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GuestPoster240623

Hi folks, Don't know if anyone can help me. I plan to move to Portugal this year with my partner. Both she and I are retired, and I've applied for my Portuguese passport. I'm an Australian national, my partner is Romanian (stuck here since Covid started).
The issue I have is that all my money is tied up in Aussie Super (I'm a self-funded retiree). I don't know what the Portuguese rules are regarding an ex-pat's tax status, and whether I can continue to live off my Aussie Super. I don't understand enough about Super to really know what to do for the best.
Has anyone who's retired to Portugal been in the same situation? I'd really appreciate any advice you can give. Thanks, Orlando

See also

The tax system in Portugal Taxes for 做厙輦⑹s in PortugalDouble tax treaty UK/PortugalNIF online for EU citizenTax Accountant - NHR
couta c25

Hi Orlando,
Unfortunately I don't have a concrete answer for you, but just to clarify.. do you mean applied for Portuguese residence ? Normally to apply for a Portuguese passport = Portuguese national, you would have to prove some sort of ties to the country and these ties can be various including: Portuguese heritage, own property in Portugal, have some command of the language, etc. - I know this for a fact as
partner is in consulate / embassy area.
Are you a dual citizen of an EU country?

I am not retired yet but also have Aussie Super, and once that time comes, I'll personally take it all out in cash and use that. I believe that if you take it all out, before you reach Portugal, then you may be alleviated on the tax front. If you just draw funds on a regular basis earned outside Portugal, you may want to look up the NHR system.
sorry cant be of any concrete help, but will subscribe to this thread to see how it develops. I hope that someone on this forum has gone through this exercise

GuestPoster240623

Thanks for the super-quick reply - I really appreciate it! I guess I should have clarified my citizenship status. I'm applying for Portuguese citizenship on the basis of heritage - my late mother was Portuguese. Mind you, if you think it's just a rubber stamp, think again. I handed in all my papers to the Sydney Consulate in July last year; and as of November, they hadn't even been submitted to Lisbon. God knows what hoops you have to jump through if you're NOT automatically entitled to citizenship! Phew!
Anyway, I had heard, as you alluded to, that it's better to shut down your Super before leaving the country; otherwise there may be hefty tax implications on moving to Portugal. The thing is, I'd love to know the facts - after all, I don't want to dismantle my Super only to find out that there are 'workarounds'. I mean, different countries have different reciprocal arrangements with Oz, for example, government pensions. If I were to move to Romania (where my girlfriend is from), I couldn't get my Aussie pension; apparently in Portugal I can (just fyi - I'm still two and a half years off getting my pension).
If you've got any more info - or if anyone else is following this thread - I'd love to hear from you (the beers are on me if I can sort this out - ;) ) Thanks so much, Orlando

RobLane

If youre on Facebook, look up Bruno Alfonso. Hes an accountant who we are using to get our NIFs. Hes very highly recommended and has been really helpful so far. Im sure he can advise you.

couta c25

hi Orlando,

my parents who are in Portugal are receiving their pension from OZ ( mind you that started 15 years though) . Nevertheless, I would triple check that Portugal is still one of the countries that you can get paid yr pension... rumours that I heard ( for what its worth ), this is stopping. Aussie govt pension people, have told / written that if my folks they enter Australia again as residents ( they are also ozzie citizens ), they would continue getting their pension in oz, but if they decided to depart once again, they would no longer get paid.
.. saying so and in my honest opinion, I still think that outright money in your pocket is better than in some fund ... but thats everyones prerogative

good luck with it all

GuestPoster240623

Certainly will Rob, thanks so much

GuestPoster240623

Hi, thanks again. you can be sure I will be checking everything thoroughly.

Cheers (can't keep calling you couta c25 )

GuestPoster240623

Hi Rob, is he the Bruno Alfonso whose FB page has a quote - "que o nosso bem fa癟a" ? Cheers

Carla Gomes26

Hi,

It織s not Bruno Alfonso [/b]but BRUNO AFONSO.


Hope this helps.

RobLane

[link moderated]

GuestPoster240623

Thank you Carla. I found a Bruno Afonso in Vila Velha - hopefully he's the one!

RobLane

I stand corrected.

enterprisetrust

Interested in this also, but from the perspective of applying for the D7 Visa.

The clarification I am seeking is whether an 'Income Stream' purchased from Superannuation, is considered a pension income by Portugal for the purpose of the NHR. i.e. it is not a government pension as such, but a self funded income stream that just happens to be tax exempt under Australian law, as it is deemed to have been 'taxed' at the contribution stage in to the original Superannuation fund.

The lack of a DTA between Portugal and Australia does not help to clarify things!

Is there anyone here from Australia residing in Portugal under NHR status that is receiving an income stream in this manner and can provide advice?

Thanks.