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Turning 55 and living overseas

Discussion in 'Introductions' started by almost55, 7th Apr, 2012.

  1. almost55

    almost55 New Member

    Joined:
    7th Apr, 2012
    Posts:
    1
    Location:
    Victoria, BC
    Hi
    When they passed the law that said that we don't pay tax when we take our super out, it was good news. I know that were I living in Oz, hitting 55 in a few months, I could take a percentage of my super out tax free.
    However I am living in Canada. Here people do not pay tax on their super money when they are putting it in, they pay when they take it out.
    I have been told by my H&R block guy today that if I take any money out when I hit 55, that the Canadian government will tax me! I have already paid tax on this money. I was looking forward to paying off my mortgage with the money.
    Does anyone know if this is true, or where I can go for specialist advice on this? I am just so disappointed...I paid not only the tax but the useless super surcharge on this money....now I am being told that the Canuck government wants to take a chunk..when it should be considered post tax money no matter where I am living.
    It is hard to get good advice on international tax law...my Oz accountant told me misinformation about dividends..told me that they would be virtually tax free when I became an overseas investor. That was a porky.
    Any suggestions? I am both a Canadian and an Australian citizen.
    thanks!