British expats looking to retire in Australia can now avoid UK taxes through a QROPS (Qualifying Recognized Overseas Pension Scheme Transfer) pension transfer. If you are going to emigrate to Australia or looking at how to emigrate to Australia, please contact us for advice about how to protect your UK worldwide assets from taxation. If you are moving to Australia from the UK, then we can help you.
If you are going to move to Australia from the UK, you can either have your pension transferred to a QROPS in Australia where it is exchanged into Australian Dollars or you can transfer it to a QROPS in Malta which has a double taxation agreement (DTA) with Australia. This allows the pension to grow tax free in Malta and is paid out gross. This avoids UK taxes and allows your pension to grow in an environment where you have freedom of investment. This allows you to try to target a higher return and be outside the UK tax net, so you avoid the 55% tax upon death and UK income taxes. For more info, please click the link below.