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I'm a Swiss national with permanent residence in Australia…

Customer Question
I'm a Swiss national...

I'm a Swiss national with permanent residence in Australia and may only income is my old age and professional pension from Switzerland. I believe I am taxed for investment income from abroad instead of pension. Is there a different tax rate or tax free threshold for pension income?

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How much?

Accountant's Assistant: What state are you in? It matters because laws vary by location.

Queensland

Accountant's Assistant: Has anything been filed or reported?

No

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Dont think so...

Submitted: 7 months ago.Category: Tax
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10/2/2017
Tax Professional: Barbara, Enrolled Agent replied 7 months ago
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 6,011
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Your Swiss old age and professional pensions are taxable in Australia because you are an Australian resident for tax purposes. The tax treaty in place between Australia and Switzerland provides that the pensions are taxable in the recipient's country of residence, which in your case, is Australia. If you are paying tax to Switzerland on the pensions, you can receive a credit on your Australian tax return for any taxes you paid to Switzerland.

https://www.ato.gov.au/Individuals/Income-and-deductions/Income-you-must-declare/Foreign-income/

There is no different tax rate in Australia for pensions vs. investment income. The individual income tax rates in Australia can be found in the following link: https://www.ato.gov.au/rates/individual-income-tax-rates/

Please let me know if I can assist you further.

Thank you and best regards,

Barb

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Barbara
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