PPRuNe Forums - View Single Post - Emigrating to Aus - What about the Pension?
Old 2nd Sep 2002, 23:32
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TOOM
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I rteired from RAF some 18-months ago at age 55 and returned to NZ, from whence I came some 33 years previously. My Service pension was paid after UK tax until I provided proof to UK IR that I had declared the income to NZ IRD. Thereafter, all UK tax was refunded and pension paid gross and annual index linkage is appied. I could have elected to continue with UK tax and this would have been applied as a tax credit after NZ IRD had calculated my liability on worldwide earnings - thus, no advantage. As I am now self-employed it is better and easier to deal with one authority so that losses can be applied aginst total earnings.