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Edited version of your written advice
Authorisation Number: 1051437276095
Date of advice: 11 October 2018
Ruling
Subject: Foreign income pensions
Question
Is your overseas pension assessable income?
Answer
No. A social security benefit received from overseas is not included in a taxpayer's assessable income under section 6-5 of the Income Tax Assessment Act 1997 (ITAA 1997). If your foreign pension or annuity is paid from a country with which Australia has a tax treaty, you may be able to make arrangements to not have tax withheld from future payments from that country.
This ruling applies for the following period:
Year ended 30 June 20XX
The scheme commences on:
1 July 20XX
Relevant facts and circumstances
You are an Australian resident for taxation purposes.
You received a social security aged pension from overseas.
Relevant legislative provisions
Income Tax Assessment Act 1997 section 6-5
Income Tax Assessment Act 1936
International Tax Agreements Act 1953 section 4