Private ruling: Pension income
Date of advice: 14 January 2021
Published: March 2021
Ruling period: Year ended 30 June 2019 | Year ended 30 June 2020 | Year ending 30 June 2021 | Year ending 30 June 2022 | Year ending 30 June 2023 | Year ending 30 June 2024
Date scheme commenced: 1 July 2018

Ruling: Q1: Are your Country Z Pensions taxable in Australia? | A1: No. Based on the information provided to the Commissioner your Country Z pensions are not taxable in Australia. The Double Tax Agreement between Australia and the Country Z gives the taxing rights to both pensions to Country Z. Therefore, the pensions are not taxable under section 6-5 of the Income Tax assessment Act 1997 (ITAA 1997).

Relevant facts and circumstances: You are a resident of Australia for taxation purposes. You have been a resident of Australia since 20XX. You are a citizen of both Australia and Country Z. You are in receipt of Country Z pensions. You declare your pensions in your Country Z tax return. You have previously declared these pensions in your Australian tax returns.

Relevant legislative provisions: Income Tax assessment Act 1997 section 6-5