Private ruling: Foreign income pensions
Date of advice: 11 October 2018
Published: December 2018
Ruling period: Year ended 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Is your overseas pension assessable income? | A1: No. A s ocial s ecurity 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.

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