I am a Disability Support Pension recipient under the age pension age. My pension is part paid by the New Zealand government and I receive it directly from them. The Australian contribution is tax-free and pre-filled as such on my tax return. Is the New Zealand contribution also tax-free? No tax has been deducted by New Zealand and I have anlways included it in the foreign pension section of previous Australian tax returns.
Hi @JStew88,
Most foreign pensions and annuities are taxable in Australia, even if no tax was withheld by the country making the payment. This applies to the New Zealand contribution of your disability support pension.
You've been reporting this correctly by including the New Zealand payment in the foreign pension section of your tax return. You should continue to declare this amount as assessable foreign pension income, even though no tax has been deducted by New Zealand.
Check out the information on foreign pensions and annuities on our website for guidance on how to report this income. If you need specific advice about your particular circumstances, you can contact us for assistance.
Hi @JStew88,
Most foreign pensions and annuities are taxable in Australia, even if no tax was withheld by the country making the payment. This applies to the New Zealand contribution of your disability support pension.
You've been reporting this correctly by including the New Zealand payment in the foreign pension section of your tax return. You should continue to declare this amount as assessable foreign pension income, even though no tax has been deducted by New Zealand.
Check out the information on foreign pensions and annuities on our website for guidance on how to report this income. If you need specific advice about your particular circumstances, you can contact us for assistance.
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