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Edited version of private advice
Authorisation Number: 1051972288764
Date of advice: 14 April 2022
Ruling
Subject: Foreign pension
Question
Is the Country Z pension assessable in Australia?
Answer
No.
Article 18 of the Double Tax Agreement (DTA) between Country Z and Australia states:
Social security payments and other public pensions paid by one of the Contracting States to an individual who is a resident of the other Contracting State or a citizen of Country Z shall be taxable only in the first-mentioned State.
Therefore, as your pension is paid by Country Z, they have the taxing rights on the pension and it is not assessable in Australia.
This ruling applies for the following period:
Year ending 30 June 20XX
Year ending 30 June 20XX
Year ending 30 June 20XX
Year ending 30 June 20XX
The scheme commences on:
1 July 20XX
Relevant facts and circumstances
You retired in a prior year.
You subsequently became eligible to receive the Country Z pension later in the same year.
You are a dual resident of Country Z and Australia.
You have received a number of payments.
The pension is not being received in relation to government service.
Relevant legislative provisions
Income Tax Assessment Act 1997 section 6-5
International Tax Agreements Act 1953