KhunHeineken

If you can afford cask wine, surely you can afford some Mama Noodles to compliment such fine wine.

No error. I've set it out for you. It becomes a simple physical presence and time based model. I have said I could do 46 days inside Australia a year and meeting the factor tests is no problem for me. I wouldn't be happy about it, but I could do it. However, Labor are looking at increasing the days possibly to 60 days, but probably 90 days. (link previously posted) 90 days would change the game for me. In any case, how is this relevant to your typical Aussie expat retiree that hasn't been back to Australia in some years? How can they possibly argue they are still a resident of Australia for tax purposes?

From Westpac. "CRS is an Organisation of Economic Cooperation and Development (OECD) initiative to address income tax evasion. The global agreement requires financial institutions to obtain and report foreign tax residency information of account holders, and their associated parties, to their local tax authority. The local tax authorities of participating countries will exchange reported information on an annual basis." So, the ATO talks to the banks, and the banks talk to the ATO. The ATO also talks to the tax authorities in other countries, which would be the TRD.

Adelaide Bank explain it quite well. https://www.adelaidebank.com.au/support/foreign-tax-residency/#:~:text=For individual or entity customers,about your foreign tax residency. Westpac. https://www.westpac.com.au/about-westpac/westpac-group/corporate-governance/aeoi/ "If you have an existing account or product with us, we may contact you if we have information to suggest that you are a foreign tax resident." Now, I wonder where that information would come from?

I am not derailing the thread. Look at the thread title. It's about tax residency. If you don't want to discuss the proposed changes, that leaves us discussing the current 90 year old laws that have many loopholes. Which loophole would you like to discuss? The "domicile" loophole? Here it is: https://www.ato.gov.au/individuals-and-families/coming-to-australia-or-going-overseas/residency-tests/residency-the-domicile-test "The domicile test is the first statutory test. You're an Australian resident if your domicile is in Australia, unless we're satisfied that your permanent place of abode is outside Australia." The proposed changes to tax residency are the biggest single issue to face Aussie expats in decades. No just retirees, but also Aussies working abroad. In my opinion, they will be passed into legislation. Why don't you go on the record and say they will or they will not be passed, rather than criticize and sit on the fence?

In the future, there will be no need to "change" anything. It will be a physical presence and time based model based on days inside / outside Australia. No reviews. No appeals. No grey area. All proven by immigration records. Simple as that.

For some reason you never commented on the part of my post that your highlighted, but at least you are on the record. Many just criticize and sit on the fence. I have no problem accepting your differing point of view. I, and many others, hope you are right. There was never going to be a 1000 word reply. The question I have asked others, and yet to receive an answer from anyone, and I don't expect you to answer it either, is, "For how long do you expect 90 year old laws to remain in place before they are modernized?" The current 90 year old laws can't remain forever. At some stage they will have to be updated. Whether we are at that "stage" or not, time will tell.

No, the proposed changes really are that simple. Under 45 days inside Australia, non resident. Over 45 days but under 183 days inside Australia, one must meet two out of the four factor tests. Over 183 days outside Australia, non resident. When you say "other factors" do you mean the "factor tests?" If so, here they are: "Under the Commencing Residency Test, if you were present in Australia for 45 days or more in the current income year, then you will apply the ‘factor test’ looking at whether you would be a tax resident. This includes: Rights to reside permanently in Australia: Whether you have a permanent right to reside in Australia for immigration purposes. Australian Accommodation: Whether there is a legal right or arrangement to access accommodation at any time during the income year (including rental properties, own home, living with parents or other relatives). Australian Family: Whether you have family in Australia. Australian economic Interests: Whether you have an employment contract to work in Australia or carry out a business in Australia or have direct/indirect interests in Australian assets. If you satisfy two or more factors from the above, you will be considered an Australian tax resident." The above was quoted from a random large accounting firm from a Google search.. https://www.grantthornton.com.au/insights/client-alerts/the-atos-individual-tax-residency-changes-open-for-consultation/ Just about every Aussie expat can meet the requirements of the first factor test. Many may be able to meet one or more of the other three factor tests. So, no problem for an expat who is prepared to do 46 days in Australia every year. However, if you are out of Australia for 183 days, that's the end of the story. You will be a non resident for tax purposes, and I would suggest that applies to the majority of Aussie expats in Thailand.

If you have WISE, try their virtual card.

Yes, a good result, however, many people have lost money, and have had legal battle with banks over disputed transactions. Once again, you have to deal with the bank. Ring them or wait in a queue. Cancel the card. Wait on the post for a new card. Activate the card. With the virtual cards, you just delete the current one and generate another one. Job done in a couple of minutes.

Do you disagree? Are you stating you believe the proposed changes WILL NOT be passed? Go on the record. So, pensioners who go overseas on a genuine holiday, and find they lose their supplements after 6 weeks, how does that happen? They didn't inform Centerlink of their travels. How did Centerlink know to stop their supplements?

Like I posted before, probably the easiest virtual card many members of AN can get is a WISE virtual card. WISE is popular with expats in Thailand. Sign into your account and you'll have one in a couple of minutes. They are free, and you can make a new one anytime you think the number may have been compromised. Here's the link for K-Banks virtual card. I have no experience with K-Bank's virtual cards, but will check it out. I would think they work the same way as every other virtual card. https://www.kasikornbank.com/en/kplus/instruction/virtual-debit-card-1-e-sa

The think is, you never know when the 4th fraudulent transaction may happen, and if it's successful, and cleans out the account, you've got some problems. The less you use your card the better.

Australia has the third highest beer and spirit tax in the world. The Lucky Country.

This is exactly what the proposed changes were designed to do, and that's certainty for the ATO, and the individual, what their tax residency status is. Under the old system, based around where one was "domiciled" your friend would have issues with the ATO, because the ATO could say you have brought a property in Thailand, so therefore you are now "domiciled" in Thailand, therefore a non resident for tax purposes of Australia. After the proposed changes are passed, basically, 183 days inside Australia, resident, 183 days outside Australia, non resident. No need for auditing this, and everyone will know the rules and where they stand. The days of arguing you are "domiciled" in Australia, despite not being back in Australia in years will be over. Thus, one will not be able to "elect" anything in the future. It changes to a physical presence and time based model.

Which would be a false declaration after the proposed changes are passed, and one has been outside of Australia for 183 days.

Everyone's financial circumstances are different. It comes down to tax residency, type of income earned, the amount earned, DTA etc etc. For some, it may be beneficial to liquidate all assets in Australia and place the money in an Australian bank account paying around 5%, informing the bank of your non resident status, and living off the interest, minus the 10% tax. Others may need to set up a more complex financial structure. There may also be some people who simply will not be able to afford to live overseas as a non resident of Australia for tax purposes without taking a major hit to their lifestyle. These tax/s will effect different people differently.

Depend who "earns" and where those "earnings" go? The population of Australia is 26,966,789. https://www.abs.gov.au/statistics/people/population/national-state-and-territory-population/latest-release The amount of employed people out of the 26 million is 14,316,400. https://www.abs.gov.au/statistics/labour/employment-and-unemployment/labour-force-australia/latest-release To be classified as "employed" you only have to work 1 hour a week. https://www.rba.gov.au/education/resources/explainers/unemployment-its-measurement-and-types.html#:~:text=Employed – includes people who are,or more in a week. So, Australia has near half the population working to support the other half. If only every Australian citizen could own a mine.

He's trolling.

Coopers is now main stream, so I no longer include it as a craft beer. The other two beers are definitely not craft beers.

Correct. Those pesky "provisions" in Article 19 that Article 18 relies upon.

Link please. Didn't you just said you can not be taxed, therefore, how can you be refunded? Another member posted a link to the thread, but here's the link to the actual youtube video. Also, a member has posted a screenshot. Have a look at around 18:50 minutes. It states there is no exclusion for the Australian aged pension in the DTA. There's also this from these from the ATO. https://community.ato.gov.au/s/question/a0J9s0000002ngF/p00172380 https://community.ato.gov.au/s/question/a0J9s000000O2y4/p00197245 In fairness, a screenshot was posted by a member that was from another ATO staff member who said no tax was payable due to the DTA, but it's a screenshot and I can't link it. Article 18 and Article 19 of the DTA relate to pensions. An aged pension is not a civil service pension.

I don't carry a virtual card on my phone. I don't do any financial transactions on my phone at all, so can't speak about shops. I have never paid with a physical card in a shop, restaurant, hotel etc, and I am the same with the virtual card. Mine is Visa, and is accepted by every online merchant that excepts a physical plastic Visa card. Flights, Agoda (hotels) etc, no problem. It's the same as sitting in front of your PC with the plastic card entering the details.

Just reread your post. I only have a virtual debit card. I'm not sure if you can get a virtual credit card. I have posted how I use it.

There are no limits on the amount of virtual cards you can generate. Obviously, if you were generating 100 a day it would raise suspicion and probably breach their fair use policy. Using your example here's how they can stop fraud. There are two ways. Firstly, you enter your virtual card number with Sri Lankan Airlines. It's a new merchant so triggers 2FA. This means you have to authorize the payment with a code. Say someone dodgy at Sri Lankan Airlines sells your virtual card details to someone in San Francisco, firstly, there's no magnetic strip to clone, but if they go shopping online it triggers the 2FA. So, straight away you know someone is trying to use your card details. Cancel the card immediately and generate a new one and you are up and running again. No messing around with a bank and postage. Second, say you are about to buy something from an online seller that could be dodgy. You purchase the item and cancel the card straight away. They still get their money and you get the item, but the virtual card is canceled seconds after you give it to the possibly dodgy website. You generate a new one and within seconds are up and running again. You can use pre paid Visa / Master Cards for this, like I used to, but with a virtual card you do it all from home. As an extra safety, I only move the amount of money for the item I am buying onto the virtual card before I buy the item. In your example, say the Sri Lankan Airlines flights were 20,000 baht. You move 20,000 baht from your savings account onto the virtual card and buy your flights. Then, the scammer in San Francisco gets "insufficient funds" for any attempted purchasing. Times are changing. Scammers are becoming more sophisticated. If you wanted to, as mentioned above, and within reason, after every single online transaction you can generate a new virtual card. That's something you can't do with a bank.