Do I pay tax on my Pension Transfer to Australia?

When transferring your UK Pension to Australia, you may be subject to a tax charge upon transfer. Tax is based on the investment growth achieved within your UK pension plan, from the date you became an Australian resident, to the date you transferred your UK pension into Australia. It is the growth achieved during this period which would be subject to tax.

You should seek professional tax advice from a qualified adviser before transferring your funds to safeguard you from any significant charges. An adviser will put in place a transfer strategy to mitigate any potential tax liabilities.

We can introduce you to one of our financial advice partners to help you with your transfer.