
KhunHeineken
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Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
No, just your total number of days in / out within a financial year. Thai immigration know it, that's why it's called "overstay" if you go over, yet, YOU seem to think Australia is incapable of having a computer data base that can do the same. -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
Yes, but what is the relevancy of this comment? You will still be able to have it transferred, but it MAY be 30% less money. That's because many people are using the "domiciled" and "intention" loop hole. That loop hole will close when the new laws are passed. The proposed changes are exactly that, 183 days in or out. Once again, you are talking about the current situation, not the proposed changes. Losing 30% of your Aussie pension, the Thai tax is the least of your problems. Once again, 30% is a lot of tax. Thai tax is nothing compared to what Australia MAY be finally able to tax you as a non tax resident in the future. Times, and laws, are changing. -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
That's why the laws are changing. Like I have said in the past, Centerlink is the payer, and can also be the taxer / withholder. Computers will do it all. It already happens when a pensioner is outside of Australia for 6 weeks. Supplements are cut off. No giant leap forward to withhold 30% non resident tax, in the same way the supplements are cut off. -
I maintain private health insurance in Australia, so I am covered. This is a similar issue to the non resident taxation issue. The data bases are all starting to communicate with each other, and when Australia moves to a physical presence and time based model for tax residency, for sure it will have some form of impact on the availability of Medicare for expats. Basically, the days of living overseas for years, and paying no Medicare levy, and flying back to Australia for free medical treatment, will be over, and the 5 years enforced. It will not matter if you have an "address" in Australia because they will know you are not living at that address, and in fact are living overseas. As I have said, one should not rely upon Medicare for treatment of serious injuries or illnesses.
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Really? I'm shocked.
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More poor advice from you. JP's can only perform their duty in their State of jurisdiction. They can not perform JP duties whilst interstate, or overseas. Here's the NSW JP Handbook. https://dcj.nsw.gov.au/documents/legal-and-justice/justice-of-the-peace/the-role-of-jps/jp-handbook-full.pdf "You must be physically present in NSW to exercise your functions as a JP except in certain circumstances when you are delivering JP functions via audio-visual link (see page 14). " The JP should have know this and declined to witness the document. Also, it invalidates your document. If they looked into that document, you would have been asked to resubmit, and the JP may have been stripped of their certification. They don't really have to, in order to have the Vet pension cut off, do they? The Embassy informs Births, Deaths and Marriages, and from there, other government agencies are informed, and payments stopped. However, I have been told there is usually two, or possibly three, more pension payments after death. Most likely due to the bureaucracy, with cross referencing etc.
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Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
Can you quote me where I have said any other that???? Banks accounts and automatic transfers. Huh???? Go on the record. What pension are you on???? -
No, I don't like to be critical of posters, just calling it as I see it. Last time I went to load Sly Guy's repo it wouldn't take. I gathered he may have been shut down, which is what can happen. He went from Matt Hausman to Sly Guy, so just like Matt Hausman didn't work, maybe Sly Guy doesn't anymore. I don't know. Just thought I would mention it. I went another route and gave up on it.
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Another member started a thread recently that Microsoft has now blocked the work arounds that many were using to install Windows 11 on incompatible hardware. Check it out.
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Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
I have no problem with that. Feel free to put me on your ignore list. It makes it easier for those who want to seriously discuss the issue. Funny thing is though, YOU are not on the aged pension either. -
Oz $ losing so much value to the Baht
KhunHeineken replied to scorecard's topic in Australia & Oceania Topics and Events
I might not even be able to exchange AUD there, the way it's going. -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
Firstly, the question was not put to you. The question was put to the member Scorecard, who, at various stages has posted he is on a Vet's pension, and then at other stages, has posted he's on the old aged pension, and how kind the Centerlink call center staff are when he makes inquiries about it. He's also posted a lot about portability, something Vet's don't have a problem with. In fact, I know a few Vet's in Thailand and had some brief discussions with them about it. I specifically remember him posting his 2 year stay in Australia for portability was in a Vet's village, and how easy the 2 years was for him because it. So, he's either a Vet, on a Vet's pension, or he's not. I called him out on it a while ago, and his reply was, "You are on my ignore list." Funny that. So, I, and others, smelt BS. Yet, he has never gone on the record as to, exactly, just what pension he's on, because they are VERY different pensions, with VERY different entitlements. I have posted before I am not on an aged pension. Posted it months ago. No secret. I have also posted before I will not receive an aged pension, without shifting assets, and my accountant working some magic. All legal, of course. I have no problem admitting after working and paying a lot of tax, I do feel somewhat "entitled" when that day comes. My post count on this thread is high because a long time ago I got wind of the proposed changes to Australia's 90 year old tax residency laws. I'm sure you have seen them. Basically, just like Thailand, Australia is looking to change to a physical presence and time based model, from a "domiciled" model. I posted those changes and got an avalanche of crazy reasons why it will never happen. Everything from Paul Hogan, to having a Medicare Card, even Albo has been voted in, so it's never going to happen. I replied to every serious post, and also every personal attack, baiting, flame, troll, abusive, hate, ridicule etc post, thus, a high post count. Also got sent on a posting holiday. As I have said, the proposed changes are the single biggest issue facing members reading this thread, and I stand by that. What's there to talk about in relation to portability? Do tell? It's been done to death. There was a lot of debate, but at the end of the day, what was established was: 1) The pension is deemed an income. 2) The pension is taxable. 3) Someone who is living in Thailand WILL BE deemed a non resident when the proposed changes are passed. Many already are anyway, including myself. 4) The proposed changes have no means testing, thresholds, or exemptions in them. 5) Non resident tax is 30% from $0 to $135,000. Members still believe there's nothing to worry about, and that's fine. I'm just interested in why, with some more substance to their post other than Hoges, Medicare Cards, and Albo. Indeed, the psychology behind not wanting to consider the possibility these changes will have any impact, whatsoever, was also discussed. You see, pensioners may get an increase, but the pensioners back home are going backwards. Eg. electricity, gas, water, rates, food, petrol etc etc. Nothing that we care about here, because it's cheap living, but the government, who is in record debt, may just want a piece of the non resident tax pie, and that could include pensioners, possibly as collateral damage. Yet, no one wants to put the jigsaw puzzle with the five things above together to even think it's possible. We already know Immigration inform Centerlink after 6 weeks out, so supplements are cut off. Is putting the ATO in that loop such a giant step forward that is too far for a computer to do???? The Brit expats get their pension frozen when they leave. Maybe Australia wants to tax pensions. Same Same, but different. Who knows? What I do know is times are changing, Australia is in record debt, and chasing every dollar they can get. Members posted, "they will not target pensioners." I never said expat pensioners will be "targeted." All I have ever said is they very well may be collateral damage. Members posted, "pensioners will be up in arms." I asked, who went to the Embassy in Bangkok last election and voted. No reply. So why would pensioners in Australia give a sh*t about pensioners living it up in Thailand and Bali etc? So, to summarize, there's been a lot of funny posts put forward why it will not / can not happen, but little in the way of substance as to why, hence, one more post to my count on this thread. Now, if you can post a reason why all the above five things WILL NOT line up to cause pensioners ANY grief at all, I'm all eyes. -
Not sure what country you are from, but in my home country, she could open an account, and a term deposit. The term deposit accounts are currently paying around 5%. She could let it roll, all have the interest put into a current account annually, that can be pulled out with an ATM card in Thailand. Or, through internet banking. Eg. Wise, also. You could probably get an account that pays a bit less interest, but interest transferred to the current account monthly, so available for use on a monthly basis, with the capital still sitting there. Of course, I would inquire about how she could close the account from overseas, when that day come for you, thus, no visa for her. Simple. Solid. Easy. Guaranteed. Just check on the closing of the account from abroad, and of course, the interest rate may not be always 5%, but better than Thailand rates, and no speculation in stock markets. Just something to consider.
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Baht strength - How long?
KhunHeineken replied to gejohesch's topic in Jobs, Economy, Banking, Business, Investments
I think you missed the point that most are concerned about. That is, their meagre pension is contracting in value. The purchasing power of their transferred funds is shrinking. Basically, their lifestyle may have to change. -
I agree. An argument lost on many members in the Australian Forum - Old Aged Pension thread, also. Article 18 of the Thai / Australia DTA relies on the "provisions" of Article 19, and Article 19 is about "government service." pensions, not "government pensions" as in, welfare, or benefits as it's known in some European countries. There is a difference. One member posted in the Australia Forum, and I quote, "Forget about Article 19" yet in this Forum, advised another Australian member he would have to pay tax under Article 19 of the DTA. Go figure. Every DTA is different, yet, have a lot of similarities, particularly when it comes to pensions.
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Answer to that problem is, tighten up on foreign ownership. Eg. more tax. Boils down to, current owners will have a declining market, and new builds/ developers a declining market also. There's already a massive oversupply of property in the market in all of the major tourist areas. The Thai's don't want to cause a "market correction." They just want more of a slice of the "market." Get the balance wrong, and, well, the market could tank, but the oversupply was already pushing prices lower anyway, yet, they keep building, and building.
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How much Superannuation is enough
KhunHeineken replied to georgegeorgia's topic in Australia & Oceania Topics and Events
I agree. Start buying land in Issan, a house, a farm, a shop, a bar etc etc, then all bets are off. Rent, and do not buy, including "company" and one could have a long and comfortable life, retiring early, Thailand. It's nothing new, and well documented. Keep it "real" here and enjoy. Start shifting liquidating assets in Australia and shifting cash here, based on emotion, and you roll the dice. -
Aussie Savings Account Interest
KhunHeineken replied to Pattaya57's topic in Australia & Oceania Topics and Events
The RBA are in a difficult position. Mortgage stress across the country is very high. https://www.mpamag.com/au/news/general/majority-of-australian-homeowners-face-mortgage-stress/489375 "More than half of Australian homeowners are grappling with mortgage stress, with research commissioned by Aussie revealing that 52.5% of them are allocating over half of their income to mortgage payments, and 16% are struggling to meet repayments due to rising interest rates." Raise rates, and they could collapse the Australian housing market Ponzi scheme. Lower rates, and inflation rises again. The inflation rate is already higher than what the RBA would like, and has been for quite a while. Whilst you may enjoy higher interest rates on your savings, just think about what happens to the AUD is the Australian housing market tanks. -
Oz $ losing so much value to the Baht
KhunHeineken replied to scorecard's topic in Australia & Oceania Topics and Events
Wait till when we lose our AAA rating and see what happens to the AUD. http://australiandebtclock.com.au -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
Can you show me. ANYWHERE, in that link where it mentions living overseas, full time? I did like this part though: " Please Note: The information in the above blog post is general in nature and should not be relied upon as detailed advice that applies to everyone. Each person’s individual circumstances will decide whether or not they need to lodge a tax return." Here's the non resident tax bracket. The pension is deemed an income. The pension is taxable. You WILL BE outside of Australia for 183 days, thus, a non resident for tax purposes. Do you see $0 to $135,000? Can you post a link, from anywhere, showing a old age pensioner does not have to pay non resident tax? Foreign resident tax rates 2024–25 Taxable income Tax on this income 0 – $135,000 30c for each $1