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Tax on Australian superannuation in Ireland after preservation age?

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  • 19-01-2021 5:23pm
    #1
    Registered Users Posts: 5


    I’ve lived in Australia for five years. I am an Irish and Australian dual citizen. I have returned to Ireland where I plan to live and retire. I am a PAYE earner in Ireland in the public service and will have a small pension from this along with a private pension (PRSA) I have been contributing to.

    I have an Australian Superannuation (state pension approved) account, where I paid tax on any contributions I made into the superannuation.
    I read the Citizens Information website, which states: “With regards to transferring of accumulated Superannuation funds from Australia to Ireland and based on the Double Taxation Agreement between countries, all pensions and annuities paid to an Irish resident shall be taxable in Ireland.”

    The revenue.ie website states that “Foreign occupational and social security pensions that would not be taxable if the recipient lived in the country that granted the pension.”
    Considering the above from revenue.ie, if I continued to reside in Australia I would have been able to access the superannuation tax free (up to certain amounts).

    When it comes “preservation age”, which will be 60 and I want to transfer that money back to Ireland via a lump sum will it be subject to tax in Ireland? And is the tax rate just standard Irish income tax rates?


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