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Turning 55 and living overseas

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

  1. almost55

    almost55 New Member

    7th Apr, 2012
    Victoria, BC
    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 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 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.