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Re: Overseas savings .

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Newbie

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I am an Australian citizen and resident . I have an bank account in the UK ,
In December 2022 I will have retired as I will be 66.5 , do I have to pay tax on my UK saving when I have it transferred to my Australian bank account??
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Devotee

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No you won’t pay tax when you bring the money in. If you start earning income on it somehow like through bank interest you would potentially pay tax on the earnings. 

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Most helpful response

Devotee

Replies 0

No you won’t pay tax when you bring the money in. If you start earning income on it somehow like through bank interest you would potentially pay tax on the earnings.