Planning on moving to Australia from New Zealand and becoming a tax resident. I’m 68yo and want to liquidate my US based IRAs and move them to Australia. What are my tax implications?
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Hi @Antonra,
Are you planning on withdrawing your super before bringing the money to Australia or are you thinking of transferring the money from your US super fund to an Australian super fund?
Let's say you're transferring from your US super fund. The money will be treated as a member contributions.
If it's cash, there won't be any immedicate impliations. Once the money earns interest then we'll ask you to pay tax on the interest part.
Happy travels!
All replies
Hi @Antonra,
Are you planning on withdrawing your super before bringing the money to Australia or are you thinking of transferring the money from your US super fund to an Australian super fund?
Let's say you're transferring from your US super fund. The money will be treated as a member contributions.
If it's cash, there won't be any immedicate impliations. Once the money earns interest then we'll ask you to pay tax on the interest part.
Happy travels!
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