If you have assets in the UK, careful planning before you move could save you thousands of dollars in tax.
As an Australian tax resident, you will be liable to pay tax on worldwide income and gains. This means that even assets outside of Australia, such as UK pensions, ISAs, and investment accounts, are assessed and liable for tax in Australia.
The retirement system also works very differently in Australia. With careful planning you can create some fantastic opportunities to mitigate tax and make the most of your future retirement. But failing to plan could lead to paying far more in tax than you need to.
Our expert team are fully licensed and regulated in both the UK and Australia. So, we are perfectly placed to help you plan for your future. Our advisers are highly qualified and have an in-depth knowledge of both the UK and Australian systems. We are here to help you set up and start your life abroad and support you and your family every step of the way.
Alexander Peter Wealth Management have assisted with hundreds of UK pension transfers and our team have years of experience in helping expats make the most of their new residency status.
