Taxation of Hong Kong pension lump sum payment

Question

 · Accepted Answer

BlakeATO · Answer

Only the applicable fund earnings will be reportable (and taxable) here. Applicable fund earnings are the amounts in your super account you've accrued since you became an Australian tax resident. The way to work out that amount is under section 305.75 (https://www.ato.gov.au/law/view/document?docid=PAC/19970038/305-75) of ITAA 1997, which you can read on our legal database. You can read about transferring amounts from foreign super fund to yourself (https://www.ato.gov.au/Individuals/Super/Foreign-super-funds/Transfer-or-withdraw-from-a-foreign-super-fund/) on our website. Bear in mind, the Hong Kong fund may be a provident fund, if so it's not looked at the same way as a super fund in Australia, nor are the transfers. You can check out prior information on our forum (https://community.ato.gov.au/s/question/a0J9s0000001CePEAU/p00024936) here.

Explore tax & super topicsExplore tax & super topics

About usAbout us