- 1
- Pensions (excluding government pensions) and retirement annuities paid to an individual who is a resident of a Party shall be taxable only in that Party. However, pensions and retirement annuities arising in a Party may be taxed in that Party where such income is not subject to tax in the other Party.
- 2
- The term “retirement annuity” means:
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- a)in the case of Australia, a superannuation annuity payment within the meaning of the taxation laws of Australia;
- b)in the case of Aruba, a stated sum payable in consequence of retirement and paid 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; and
- c)any other similar periodic payment agreed upon by the competent authorities.
