Hello there.
I just want to check with you guys whether I need to declare my MPF from Hong Kong here in Australia. I recently withdrew all my MPF money in Hong Kong and transferred them here in Australia. I’m an Australia PR and just want to check whether I need to declare this before I file my tax return (2022-2023)
Thank you very much in advance for your response.
Hey @zeroboy1205
I would imagine you would need to take up hosting a Manchester Punk Festival with your local council, wait that’s the wrong MPF!
This will depend on how you have withdrawn funds from your MPF. If you transfer to an Australian super fund, then in short this would be considered a member contribution but there are other conditions that need to be made for this too be considered.
If you have withdrawn a lump sum, then there are rules relating to when you ceased your employment and became a resident. With the lump sum being tax-free if specific conditions are met.
If you need further clarification based on your situation let us know.
Hey @zeroboy1205
I would imagine you would need to take up hosting a Manchester Punk Festival with your local council, wait that’s the wrong MPF!
This will depend on how you have withdrawn funds from your MPF. If you transfer to an Australian super fund, then in short this would be considered a member contribution but there are other conditions that need to be made for this too be considered.
If you have withdrawn a lump sum, then there are rules relating to when you ceased your employment and became a resident. With the lump sum being tax-free if specific conditions are met.
If you need further clarification based on your situation let us know.
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