KhunHeineken

This is what you posted in another thread a little while ago. "This whole age pension tax thing living overseas is a huge balls up and confusing, but once you have a read of this, your not going to like it. It's a real eye opener. https://www.smsfmate.com.au/how-long-can-australian-pensioners-stay-overseas-without-losing-their-pension/#:~:text=The Age Pension and Taxation,-As an age&text=The pension is considered taxable,deduct tax from your payments. And then there is SAPTO https://www.ato.gov.au/individuals/income-deductions-offsets-and-records/tax-offsets/seniors-and-pensioners-tax-offset/#Incomelimits From my reading, they can take $0.32.5c in every $, no threshold as you are deemed a non resident, then they credit you SAPTO, $2,230, so this means you can lose a big chunk of your pension. You don't have to be a resident to claim SAPTO, but you have to qualify for it to get it, it's not automatic. Then if your like me, and have just enough assets to show you qualify, you get a double wammy, they apply a Deeming Rate of 2.5% on that, but allow you an income of $204 per fortnight. At then end of the day in my case it works at at half the pension, so not worth it, others might want to do there calculations as well to see if it's worth it. Maybe I can get rid of some of these assets in the next 4 years without them knowing ? At then end of the day, we can all play dumb and when the time comes, ah yeh, $50 per fortnight should be doable." Now, either you are trolling in one, or both threads, or you are contradicting yourself. Which one is it?

This post contradicts what you have been posting in the other thread. "From my reading, they can take $0.32.5c in every $, no threshold as you are deemed a non resident" - why are you now saying otherwise in the other thread? What has changed?

Bumping this thread for some more poll data from newer members.

It's gone up a lot for everyone else though. https://www.9news.com.au/national/gp-appointment-cost-doctors-appointments-rise-for-third-time-in-2023/5862a7ee-7a78-43e8-a01f-3710a201a10c

You are correct, Vietnam does not offer an official retirement visa, but I do have some friends living there doing visa runs every 3 months. Unlike Thailand, there is no problem with back to back tourist visas. The married guys get a great deal. They get a 3 year Temporary Resident Card for a reasonable one off fee. Yes, non resident tax brackets are a fact. There is no tax free threshold in the non resident tax brackets. I agree, the application of the current 90 years old tax residency laws are a joke. The current legislation has so many loopholes in it that it is no longer fit for purpose. Indeed, I have benefited from these loopholes, as have many other, over decades. Thus, the proposed changes, which appear to go the other way and have absolutely no loopholes to dispute as the legislation is a physical presence and time based model, backed up by immigration records which can not be refuted. Should 32.5% of pensions be withheld to non resident pensioners in the future, it may simply come down to affordability. Some neighboring countries are more affordable than Thailand. We saw in the 2008 GFC many expats from all around the world retreat to the villages up north, due to affordability. This may be an option for Aussie retirees with a diminished pension. Still, in my opinion, the countries I mentioned, despite their faults, are better then moving back to Australia.

It's you that doesn't get it. You have to look at the big picture. The money to service such debt has to come from somewhere, either in tax revenue, or cost cutting, which means all Australians either pay more, or lose an amount of services.

Don't mention any possible fraudulent activity, or tax evasion, someone might beg the Mods to have you banned for life.

Errrr, we are talking about a country, not YOU. Oh, and the debt clock is real. If you don't believe it is, post a link refuting it.

I've heard he used to be a rocket scientist. Is that true?

The main problem for many will be non resident tax rates in Australia. Options are there to move to Vietnam, Cambodia, Bali, Malaysia etc etc, BUT, the non resident tax in Australia will remain, no matter what country one may move to. You need to look past Thailand on this one, or, are you losing the plot?

How will that get around you being overseas for 183 days, thus deemed a non resident for tax purposes, and your pension / part pension? Australian immigration records have you on toast. That's the big tax. You would need a major restructuring of your finances, or implement the strategy you mentioned and go back to Australia for 6 weeks / 3 months, if it's actually worth it for you to do so.

Aren't you on a vet's pension?

Global media and governments have all stated what is occurring in Myanmar is a civil war, yet, he denies it, without any links put forward to disprove it. Too Funny.

I'm sure Mr. Khayanngan's colleagues will now allow certain people to deal drugs in their "entertainment establishment."

As soon as the media publishes "drunk" everyone automatically attributes blame to the foreigner / expat / tourist / passenger. However, even whilst quite intoxicated, one knows when they are being robbed. Some hand over the money, others defend themselves. More to this story than "just another drunk Brit."

Check out these obscene profits. https://www.actu.org.au/media-release/back-workers-not-big-business-profits-politicians-urged/ "Recently we’ve seen the big four banks post bumper profits, with the Commonwealth Bank posting $10.2 billion, Westpac $7.2bn, NAB $7.7bn and ANZ $7.4bn. Back in August, we also saw significant profits from Coles, up 17.1% to $643 million and Woolworths, up 14% to over $900 million. IAG, Australia’s top general insurer, saw profits soar 140% to $832 million. Origin Energy, one of Australia’s biggest energy providers, grew profits by 83.5% to over a billion dollars." Price gouging, but guess what, the higher the price, the more GST the government gets, so why would they care?

I could see some years ago policy was pushing Australia into the extended family model like Europe and Asia. Basically, no chance to own your own home, so you and your wife / husband live with parents / in laws, and inherit a house. So much land in Australia, yet, there is a housing crisis. We are a laughing stock of the world. It's a man made disgrace.

There is a lot of software out there that does similar to this. Not only can the owner, in your case your former employer, wipe the drive, but they can also know your geographic location. https://homeoffice.absolute.com

Are they brave enough to revisit the inequity of the negative gearing policy? Stage 3 tax cuts: Allegra Spender, Bill Kelty call to overhaul system beyond income tax cuts (smh.com.au)

As I have said before, computer data bases will do the heavily lifting. Despite Australians voting down a National ID Card years ago, we are all still just a number, one way, or another. Eg. drivers license number, Medicare number, passport number etc. We have already established that Immigration inform Centerlink of a pensioner who is outside of Australia for 6 weeks, so their supplements are cut off. Immigration will do the same after 183 days, so the 32.5% non resident tax will be withheld. The infrastructure is already in place for it. Now, initially, the proposed changes were 45 days in Australia, followed by the factor test. If outside of Australia for 183 days that's automatic non resident. The Labor government were looking at tweaking the 45 days. There's some suggestion that it may be 90 days, in line with other countries. (links previously provided) That would mean you would have to do 3 months in Australia, plus meet two of the factor tests, which are not difficult, but 3 months in Australia would no doubt effect the bottom line of many pensioner's budgets, so much so that one member posted it may be actually financially beneficial to remain in Thailand and give up 32.5% of the pension, and that was just for the 45 days. The data base will simply calculate your combined amount of days in Australia and proceed from there, but most Aussie expat retirees will be an easy catch because they are simply outside of Australia for 183 days. Many haven't been back to Australia in years. Every member's situation is different. Some may have free accommodation back in Australia, for example. However, a forced 3 month stay is double a forced 6 week stay, should you decide to adopt that strategy. Keep your eyes on what Labor tweak. The longer tweak is good for working Aussie expats, but no good for Aussie retired expats. I guess it comes down to how much "income" one is deriving from Australia, and how cheaply they can remain in Australia for either 6 weeks or 3 months, or anything in between, as to how financially viable a return to Australia would be, in order to be deemed a resident for tax purposes for the year. Once again, it's not a new tax. It's a tax that pensioners should already have been paying, for decades. (see the Bob and Blake link, plus a new one I have recenlyt posted) As for other countries, how is that relevant? Have you seen the UK Forum what UK Banks are doing to non residents? Tell me how you think it could be legally challenged? Who's going to challenge? Have a look at the results of the petition I posted recently. I see you are still of the belief of a big protest, or backlash, or pensioners being "up in arms." It didn't happen and isn't going to happen. The legis;ation will be easily passed because it was originally put forward by the Liberals, so why would they oppose it now? No. I have skin in the game. I stand to lose, or, adopt your strategy and go home for the amount of time set in legislation, then meet two of the factor tests. I don't like either option. What has caused such great debate is that many pensioners believed it was all not applicable to them. Comments such as, "I don't earn a pension" and "the pension is not an income" and the famous " that's only for guys like Paul Hogan" etc etc. I hope the legislation never passes, but the naivety of many members on this forum is amazing. They truly need to believe none of this will have any impact on them, hence throwing rocks at the messenger in the hope the message goes away.

Just checking in on Australia's Debt Clock. That's a lot of debt for a country with only 28 million population. https://australiandebtclock.com.au

How many more links would you need before you accept Myanmar is officially in civil war? Here's the BBC. Dated 23 January. See the words "civil war" yet again? https://www.bbc.com/news/world-asia-68038513 "The man who led the 2021 coup against the elected government of Aung San Suu Kyi, provoking a catastrophic civil war, has faced plenty of international censure, and is loathed by much of Myanmar's population."

You didn't mention anything about not making the same mistake twice. Many do.

Why American is not the greatest country in the world. Australia gets a mention.

I was under the belief Aboriginal people got an annual, or bi-annual payment from their land council, which is a lump sum.