DT2713 - DT: Australia: old agreement, Article 14: Pensions and purchased annuities

This Agreement applies up to 5th April 2004 for UK income tax and up to 30th June 2004 for Australian taxes. For later periods the new Agreement applies. This can be accessed via the page Tax Treaties – in force http://www.hmrc.gov.uk/international/in_force.htm.

(14)(1) Any pension or annuity derived from sources within one of the territories by an individual who is a resident of the other territory shall be exempt from tax in the first- mentioned territory.

(2) The term 'annuity' means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time under an obligation to make the payments in return for adequate and full consideration in money or money's worth.