If your only source of income is the aged pension then yes, you may still need to lodge a tax return. You do need to lodge a tax return if: Centrelink is withholding any tax from your aged pension payment. If there is any amount of tax withheld listed on your PAYG summary, then you should lodge a tax return.

Do you have to pay taxes when you retire from the US?

US Retirement income may also be taxable in your new country of residence. It depends on the country where you live and your visa status. There will be no double taxation, though. The US tax will be offset through the Foreign Tax Credit mechanism. Social security payments – can you receive them? and will you be taxed on them?

How are retirement distributions taxed in the US?

Retirement distributions, except for ROTH IRA, are included in your gross income in the US. This is considered “passive” income and is not eligible for the Foreign Earned Income Exclusion. US Retirement income may also be taxable in your new country of residence. It depends on the country where you live and your visa status.

Do you have to file taxes when you retire abroad?

If you do not have rental properties in your former state then then for most states you will be completely exempt from state filing obligations. Certain states will require that you continue filing after retiring abroad even if you do not have state taxable income. Examples of such states are VA, CO, MD. How much should I withdraw from my pension?

Can a foreign pension be taxed in the US?

The U.S. does have tax treaties with specific countries that have special rules on foreign pension taxes. For example, if you’re a U.S. citizen with a foreign pension in the U.K., Canada, Germany, the Netherlands, or Belgium, you’ve got a tax treaty that basically allows your foreign pension to be taxed the same as a U.S. retirement plan.