KhunHeineken

How so? What makes you think the implementation of the changes are so far away in the future? No, just wondering why you are so confident the changes will either not be passed at all, or if passed, they will be passed so many years from now that you would have died, hence they will have no impact on you. What would your comment be if they are in the May budget, which is less than a week away?

Australia's debt clock. https://australiandebtclock.com.au

With electricity set to rise between 20% and 31% on the 1st July, that's going to see a surge in inflation that will not be easy to tame. https://www.afr.com/companies/energy/power-bills-to-rise-by-20-per-cent-from-july-1-20230314-p5crzg

Sadly, I think you are correct. Everyone voting for individual financial benefit, not the benefit of the country.

Australia was well on its way to over $1 Trillion dollars in debt before the pandemic.

$2.5 million an hour in interest. https://www.smh.com.au/politics/federal/trillion-dollar-debt-delayed-but-interest-bill-accelerates-to-2-5m-an-hour-20230504-p5d5kj.html

That's the power of the Great British Pound in Thailand.

Why are you so confident the Labor government will not implement the changes? I've posted a link showing the Assistant Treasurer of the Labor Party informing expats at a meeting in Singapore that the proposed changes are in the government's "in-tray" and that they were looking at the 45 days part of the legislation. This says to me that the changes are not dead in the water under Labor.

That's the only accurate post you've made lately.

I've heard that when the Brit got his gear off, the old Aussie guy thought he was in Boyz Town and went to place a 100 baht note in between the Brit's a** cheeks, which he took offence to, so hit him with his beer bottle. Don't know how true it is.

There's always winners and losers on budget night, however, with the Australian economy the way it is, I think there will be more losers than winners for the foreseeable future. The government needs to collect more money. Simple as that. We may all dodge a bullet on the 9th May, but in my opinion, it's only a matter of time before those tax residency laws are passed.

That's a bit rich coming from you with all your hate speech, personal attacks, abuse and trolling. How has discussion about this serious tax facing every expat turned this thread into a dogs breakfast? It's you, and many others, that caused the thread to descend into the gutter. Talk about the pot and kettle. I posted the proposed changes and everyone went off like a bomb, as if it was my fault for drafting them. Some of the replies as to why they will either not come in, or come in with little effect on expats, were ridiculous. The simple fact is, a high percentage of expat retirees have never paid non resident tax, and that includes myself. We have fallen through the gray area net in the 90 year old law. The proposed changes, with the 183 day law was designed to turn the net into a scoop, so no holes for any expat to fall through. This should have been the focus of most discussion, but it became clear a lot of expats had no real idea of their tax residency status and their current tax liability. Once told of the harsh reality in these changes, well, it wasn't difficult to see the psychology behind the personal attacks, abuse and trolling. Take it up with Bob and Blake from the ATO in YOUR link. One can only wonder what may have come of this discussion if you posted that link 20 pages ago.

Price, Waterhouse, Coopers keeping an eye on the May budget for the government's intentions in relation to the proposed changes. https://www.pwc.com.au/publications/federal-budget-2023/analysis-and-insights/multinational-tax-updates.html "We also hope to see the Government indicate its intentions with respect to the former Government's announced but unenacted measures, for which a decision was not made in the October 2022 Budget, including the patent box regime, corporate and individual residency changes and whether we will see any reforms to the deemed dividend rules affecting private companies." Of course, it could just be the opinion of their staff, and they are scaremongering.

I didn't forget about self managed funds, but I would hardly call them mainstream for PAYG workers. That's not to say PAYG workers can't do it, just that it's not widely adopted by them, probably because of all the establishing and annual reporting necessary. I don't know every detail about the British system, but I believe you pay into it, and it's government guaranteed to you upon retirement. At least this way you know it can't be lost to you, and you know exactly what you will be getting in your retirement. There's something wrong with a system that people pay into for all their working lives, and when they are just about to hit retirement age, something like the GFC or Covid hits, and they have to keep working for years after. Fraud is also another concern, and there has been a lot of it. False signatures on forms requesting the fund move the money from a low risk portfolio to an aggressive portfolio so the manager gets a bigger commission saw retirees losing the lot is just one example.

Like I said, beaches forum rules, but I will not be reporting you, despite your admissions. If we took a poll in Nazi Germany back in the day about whether Hitler was a good guy or not, would it be a true indication of his character? I just addressed this in another post. Members jump into this sub topic of the thread on the current page. They doing scroll back and see previous links and read previous discussion. I've just posted the non resident tax brackets for a member for about the fifth or sixth time on this thread. Should I tell him to just scroll back, as they have been posted before? You got me. This post is six sentences. I know it's difficult for readers to maintain attention for two extra sentences.

They are 15 years behind in Sakon Nakon.

Other way around. No one likes The Tax Man, but as we can see in this thread, no one like the poster that tells you about The Tax Man.

No, he's not, but amazing how his one post is believed, and my over 300 posts saying the same thing were not, despite me posting many links showing exactly what Blake has stated in his advice to Bob. Like I said, it was bound to be an unpopular message, thus making the messenger unpopular as well, but unlike some others on this forum, I don't care about Likes, Thumbs Ups, Scores, Ratings etc. I've discussed the psychology behind many posts with another member. Basically, attack the messenger in the hope that the message will change, and join the "herd" in the attack for safety in numbers. This is why many consistently said it was just my opinion, or I was making stuff up, or it was only my interpretation, or I was only scaremongering. This was followed by personal attacks and trolling, much of which was quite humorous, yet, nothing has changed, with the proposed changes still in the current government's "in-tray." I found being called a scaremonger interesting, because I didn't put forward a rumor, or make up the proposed changes myself, they were there in black and white, on many website, for all to see. I suggested it was the legislation scaring people, and not me scaring people, but no, apparently it was me, because I made them aware of the legislation. Once again, the psychology behind the posts. I look back and some posts were just hilarious. The "That's just for guys like Paul Hogan" and the "I still have a Medicare Card so I am still a resident" posts just instilled in me that people needed the proposed changes explained to them. A recent post by a member basically asking if he didn't pull out his money from an ATM in Thailand would the government know he is not in Australia shows people still need to be informed of what's coming their way. This was followed by a member criticizing me, and then posting completely false information by way of telling people non residents can still benefit from a tax free threshold. I posted the non resident tax brackets for about the fifth time for his benefit, and people want to have a go at me for my post count. Members needed to be informed about the impact these proposed changes will have on them. A lot of false information and myths needed to be discussed, but as I have said, any information that involves telling people they may lose some money, even if they are a pensioner, was bound to be met with anger. I thank LosLobo for posting the link. If Blake's advice to Bob in the link doesn't show the seriousness of these proposed changes, I don't know what will. Perhaps now the discussion can move forward to more constructive things like some expat pension maximization strategies for pensioners, and some expat self funded tax minimization strategies for those who are self funded. Unfortunately, other than doing 6 months in Australia every year, self funded retirees would need to completely restructure their finances to minimize this tax, something that is not easy, quick, nor cheap. I've already had a brief discussion about this with my accountant. As for pensioners, sadly, I don't see many options, because as I have said in the past, their fortnightly "payer" may also become their fortnightly "taxer" so the way I view it is the only options available to pensioners is a reduction in either lifestyle or savings, or doing 6 months in Australia. Perhaps moving to a nearby cheaper country may also be an option. They could maintain the same lifestyle, despite a 32.5% reduction in pension. In my opinion, and I'll say that again, in my opinion, I don't think the proposed changes will be in the May budget, but they could be, and even if they are, I can't see them starting on 1st July 23, so that would most likely mean 1st July 24 at the earliest. So there will be some time to plan how to deal with it. As I have said many times before, Good Luck to all of us with these proposed changes.

I think Blake in your link, who is from the ATO, has summed up Bob's situation pretty well. If Bob wants to retire full time abroad, he'll have to do so on 32.5% less pension. Or, this could be just Blake's opinion, and he's just scaremongering.

Firstly, the proposed changes have not come in yet, so whatever Centrelink and the ATO have told you may very well be irrelevant if / when they come in. Here is the resident tax brackets. This is what you are wrongly referring to for pensioners living in Thailand. Residents These rates apply to individuals who are Australian residents for tax purposes. Resident tax rates 2022–23 Resident tax rates 2022–23 Taxable income Tax on this income 0 – $18,200 Nil $18,201 – $45,000 19 cents for each $1 over $18,200 $45,001 – $120,000 $5,092 plus 32.5 cents for each $1 over $45,000 $120,001 – $180,000 $29,467 plus 37 cents for each $1 over $120,000 $180,001 and over $51,667 plus 45 cents for each $1 over $180,000 The above rates do not include the Medicare levy of 2%. Here are the non resident tax brackets. This is what applies to people who are non residents for taxation purposes. Foreign residents These rates apply to individuals who are foreign residents for tax purposes. Foreign resident tax rates 2022–23 Foreign resident tax rates 2022–23 Taxable income Tax on this income 0 – $120,000 32.5 cents for each $1 $120,001 – $180,000 $39,000 plus 37 cents for each $1 over $120,000 $180,001 and over $61,200 plus 45 cents for each $1 over $180,000 Many expats, including pensioners, have been taking advantage of the gray area that the 90 year old non resident tax laws have. The above comes from the ATO website it is not my opinion and I didn't make up the chart. You can view it on the below link. https://www.ato.gov.au/rates/individual-income-tax-rates/ Can you indicate to me where a non resident has a tax free threshold? You fail to realize that an Australian pension is deemed to be an income by the ATO. Income and assets tests These tests measure your income (how much money you get) and the value of your assets (what you own, for example, any investment properties). If your income or assets are above certain limits, your pension payment will be reduced, or you may not be eligible at all. Your income includes money from: employment pensions annuities investments earnings outside Australia salary packaging See income test for pensions on the Services Australia website. Your assets include things like: investment properties caravans, cars and boats business assets The above is not my opinion. I didn't make them up. You can view the above on the link below. https://moneysmart.gov.au/retirement-income/age-pension-and-government-benefits You state how easy it is from them to reduce your pension when outside of Australia for 6 weeks. They will have the same ease declaring you a non resident for tax purposes and reducing pensions by 32.5%, and the magic number for resident / non resident is 183 days a year, proven by immigration records. You can view the proposed changes to non resident tax in many links. Here's just one of them. https://hlb.com.au/tax-residency-changes-for-individuals/ This is the main part. "Therefore, the Government in the 2020-2021 Federal Budget announced that it will replace the current individual tax residency rules with new primary and secondary tests to determine one’s tax residency. The primarily test is the 183-day test, that is, if a person who is physically present in Australia for a period of 183 days or more in any income year, this person will be considered as a resident for Australian tax purposes." You will notice there is no mention of exemptions or a change to non resident tax free thresholds in the proposed changes. In relation to the above information, can you tell me how you propose to remain a resident of Australia for tax purposes when you are living in Thailand full time, and definitely outside of Australia for 183 days? Can you tell me how you propose to argue with the ATO that your pension is not an income? Can you tell me how you propose to argue with the ATO that resident tax brackets and not non resident tax brackets, which have no tax free threshold, should be applied to your circumstances, despite the fact you are living in Thailand? Given all of the the above, can you tell me what part of it is my "opinion" and where is the "scaremongering?"

The RBA moved too slow, and raised too little, from the outset. 11 months later and inflation is still around 7%. More than double where it should be. Here's an interest clip. https://9now.nine.com.au/60-minutes/what-is-sticky-inflation-and-why-is-it-pushing-more-interest-rate-rises/e9b010f4-6e46-4863-8eb1-8b394524afd0 Australia's housing market bubble may very well need to burst so it can be rebuilt again in a way that does not skew the market in favor of investors, but considering Bill Shorten was voted down on winding back negative gearing, it shows too many are now reliant on the property gravy train. What government will be brave enough to do what needs to be done in relation to Australia's the housing market?

I have always said, from the moment I had to start paying it, if the government forces you to pay superannuation, then the government should guarantee the amount paid in, with at least a small percent of earnings, similar to that of a savings account. Forcing people to put their life savings in the hands of companies that punt it on the stock market does not instill people's confidence in the system.

Have you even put forward your own opinion on the issue? Which scenario do you think will happen? 1) The changes will never come in. 2) The changes will come in and every expat will be taxed. 3) The changes will come in but with some exemptions / thresholds. The proposed changes will effect every Australian expat, even pensioners, because as they stand, there are no exemptions or thresholds. These proposed changes are very much on topic in the thread. Are all the links, particularly those to the proposed changes, that I have posted, my "opinion" also? Do you have any comment on them, or just wish to shoot the messenger because you don't like the message? Do those links "count for much" or are they just the "opinion" of economists, accountants, financial advisors, journalists etc? Here's an example. Many members thought that once Labor was voted in these proposed changes would be dead in the water. The last link I posted, just a few posts ago. https://www.afr.com/policy/tax-and-super/assistant-treasurer-flags-new-tax-residency-rules-20220826-p5bd1v See the headline: "Assistant treasurer hints at new tax residency rules." That's the Assistant Treasurer of the current Labor government and is dated August 2022, yet yourself, and others, still only think it's my "opinion." It was in Labor's "in-tray" for the October budget, and it was "being looked at." He made these comments to expats in Singapore, yet those who thought Labor would never bring in the changes still say it's only my "opinion." "Assistant Treasurer Stephen Jones told an Australian Chamber of Commerce event in Singapore this week the new rules for deciding Australian tax residency were in “the government’s in-tray” ahead of the October budget, and the day limit was “being looked at." To those who think Labor will never bring in the proposed changes, does the article carry any weight, at all? Is the Financial Review a credible news source, or is the article only the "opinion" of the journalists? Are all of these accountants, financial advisors, economists, journalists etc, who have been linked on this forum, wasting their time informing their clients and publishing the proposed changes? Have they all got it wrong? Is it all fake news? Is it a scam? What is the purpose of all the information in the links? It's easy to criticize the opinion of others when you don't have one of your own.

Once again, no "credible" rebuttal link / quote to back up what is constantly your only your opinion. Below are the forum rules. 21. You will use a valid email address to register with ASEAN NOW. You will not use temporary or disposable email addresses to register with ASEAN NOW. You will keep the email address that you register with ASEAN NOW current so that you can receive ASEAN NOW notices. 36. Multiple accounts by the same person are not allowed. Creating a duplicate account whilst under a posting suspension could lead to further suspensions being applied. If you have access issues email support (at) aseannow.com It's not about how easy it is to break forum rules, it's about the forum rules themselves. Someone with over 19.000 posts trolling someone with only 1,800 posts for posting too much is funny.

Yet the madness continues. https://www.abc.net.au/news/2023-04-30/corelogic-house-prices-rebound-interest-rates-housing-market/102284450