Hi, I am over 60 and receiving monthly payments from my French pension. Am I only taxable at 15% within my superannuation account if I transfer the payments into my Australian superannuation account and how do I declare those in my income tax return?
Thanks
If you treat these payments as concessional contributions then that would be the case. They are claimed as a tax deduction. See how to do this below
Personal super contributions | Australian Taxation Office
Note concessional caps and eligibility rules for claiming personal contributions as a tax deduction. (as outlined in link). Also be aware of unused past concessional caps that can be used if required.
Concessional contributions cap | Australian Taxation Office
So pension is declared as income in tax return. Personal contributions claimed as tax deduction.
If you treat these payments as concessional contributions then that would be the case. They are claimed as a tax deduction. See how to do this below
Personal super contributions | Australian Taxation Office
Note concessional caps and eligibility rules for claiming personal contributions as a tax deduction. (as outlined in link). Also be aware of unused past concessional caps that can be used if required.
Concessional contributions cap | Australian Taxation Office
So pension is declared as income in tax return. Personal contributions claimed as tax deduction.
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