Tax on income from Australia (Munich)
I am trying to understand the tax implications of a planned retirement in Germany including the effects of the New Tax Treaty signed with Germany in November Protected content . ( Protected content ).
I will initially look at residency for 12 months and then consider whether or not to extend that residency indefinitely.
I am 60 years old and considering retirement within the next 12 months.
I plan to place my superannuation savings in an allocated pension (income stream).
I may also decide to rent my main place of residence in Australia as another source of income.
Does anyone know how my income from the following sources will be taxed in Germany?
1. Industry super allocated pension (income stream). This is tax exempt in Australia as I am over 60.
2. Future government age pension when eligible. This is tax exempt in Australia.
3. Rental income from main Australian residence (no capital gains tax in Australia for the first 6 years but I would pay tax on rental income)