I am retired. Australian resident for tax purposes. Worked in US may years. I have an IRA that I withdrew from yearly to pay my living expenses. How Australia tax IRA withdrewals?
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Hi @Retired.person,
You'll need to declare this as foreign income in your Australian tax return.
I'm assuming the IRS is withholding tax at the time you make the withdrawals?
We have a tax treaty with the United States so you may be able to claim a foreign income tax offset on your return so you're not paying double tax.
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