KhunHeineken
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Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
I would not be surprised if the same thing happens in this case. The politicians will think everyone living overs are like Paul Hogan, and vote it in. -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
This goes to the heart of the matter. Those on a full pension may or may not be screwed, depends on whether pensions will be exempt. Those on a part pension will also be screwed, because, for example, say they rent their house out back in Australia, but still qualify for a part pension. That rent, and the part pension, are still income derived in Australia, and up for 32% non resident tax. Same with bank interest, share dividends, owning a business etc. It's not just about pensions, it all and any "income" derived in Australia if you are outside of Australia for 183 days. They will remove the gray area that many have been in for years, if not decades. The "pint half full" will have to be in assets / means testing, or a threshold, or exemption, none of which are mentioned in the proposed changes. I guess why go to the trouble and expense to draft legislation that catches as many people and dollars as possible, just to let them and their money go again by creating another gray area that can be manipulated? -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
No, I can just see the government, doesn't matter with party is in power, eventually passing these laws. It's already on Albo's radar. https://www.afr.com/policy/tax-and-super/assistant-treasurer-flags-new-tax-residency-rules-20220826-p5bd1v "Expats could get some relief from a proposed new tax regime, with the Albanese government reviewing the number of days those living outside the country could visit Australia before being slugged income tax." -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
So, 183 days outside of Australia sees you automatically be deemed a non resident for taxation purposes, and the Australian pension you receive is deemed to be an income derived from Australia, and the non resident tax rate is 32% from $1 to $120,000, and this would be of little concern to you. Why is that? -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
Simply saying, ill depends who has an interest in knowing what money is going where, and for what purpose. Eg. money laundering, financing terrorism, tax evasion, defrauding Centrelink. -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
Good point, and one that I can relate to, and I'm sure many others well, but I doubt the government cares. -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
Food, accommodation, travel, (petrol) entertainment etc etc. Close to all of the pension would would be spend on living expenses, especially in the current economic climate. GST, tax and excise, licenses, fees, tolls, levies etc etc, all clawed back out of the fortnightly pension, if the pensioner is inside Australia. -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
Is the below link, which is one of many, a hypothetical? Do you see any means / asset tests or exemptions mentioned in it? https://hlb.com.au/tax-residency-changes-for-individuals/ Perhaps you should start a new topic, "Am I like an ostrich with my head in the sand?" Here's that link again for you to comment on. https://hlb.com.au/tax-residency-changes-for-individuals/ Perhaps you should email the company and tell them to stick to the facts on their website. -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
Why would they care? If those pensioners were informed, through the media, "The government is ensuring Australian pensions are spent in Australia, to benefit the Australian economy, and create jobs in Australia" would they like a headline like that, or still vote it down, even if, and that's a big if, it became an election issue? Even Jacqui Lambie, with her patriotic slant on politics, would be for it. I suppose the question is, what's more important to Australians inside Australia, money in the Australia economy, or Australian citizens living overseas. Who would you bet on to vote which way? My bet would be on people inside Australia voting for anything that benefits Australia and the Australian economy, as they would see expats as a minority group, which we are, spending money to support foreign economies, and creating jobs in foreign countries. -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
I think it's you who seems to be confused. I clarified it for you. This is what I said: "I posted the links as examples just to show how quickly, and sometimes how easily, a new tax can be introduced, or an existing tax increased, or broadened to include more tax payers. It's not really about the tax concessions on super." Let me be more clearer. Those links have nothing to do with non resident for taxation purposes laws. Whilst the super tax concessions may affect some planning to retire overseas in the future, it is not relevant to the sub topic of non resident for taxation purposes. Once again, I posted those links to show how easily, and how quickly, a new tax, or an increase to an existing tax, or broadening a current tax to scoop up more people, can happen. In other words, you wake up one morning and read about proposed changes to the non resident tax laws. You wake up another morning and find they have been passed, and will come into force starting on the next 1st July. No protests, no election issue to vote on, no letters to MP's etc. This is the point I am making when I posted those links. Again, nothing to do with the topic of super tax concessions when viewed on their own. The savings from them would be billions, and ongoing, forever. It could, in effect, ensure Australian pensions are spent in Australia, supporting the Australian economy, and creating jobs for Australians. How's that for a headline on the front page to gather support for the non resident tax changes? What true blue tax payer, the people who actually pay for the pensions, would not go for that headline, regardless of who owns the press? Once again, what votes are lost? Expats don't go to Embassies at election time, and why would pensioners, except for a very few that want to retire to Thailand in the near future, care one bit if pensioners overseas are taxed? It's beloved because it scoops up the most people, thus makes the most money for government. As another member says, and I agree, somehow, someway, pensions, and therefore pensioners, will be caught up in this one way or another. Like I said in another post, with the "one size fits all" perhaps pensioners will just be collateral damage that costs no votes, and makes a savings for Centrelink. It could also indirectly force some Australians, and their Australian dollar pensions, back into the Australian economy, for a minimum 184 days a year, or possibly for 365 days. -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
I wasn't commenting on a positive or negative effect. I am simply saying, there is a common belief that if you stay under $10,000 then an AUSTRAC notifications will not be triggered. This is not the case. Eg. try donating $5,000 to your favorite mosque, on a monthly basis, and see what happens. -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
Unless pensions are exempt, and there's no mention of that in the proposed changes, but it could be announced later, I can't see how they would not be caught up in it. You are in Oz, so if it becomes and election issue, which I doubt it will, you can vote against it. How many expats will make their way to an Embassy and vote against it, next to zero. -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
I posted the links as examples just to show how how quickly, and sometimes how easily, a new tax can be introduced, or an existing tax increased, or broadened to include more tax payers. It's not really about the tax concessions on super. I posted the links for those who seem to think that the 90 year old part of non resident tax legislation will not be overhauled, reformed, streamlined etc, and to the government's financial benefit. I agree pensioners would be low hanging fruit in the whole scheme of tightening up the non resident for taxation purposes legislation, but without any details on means / asset testing, or exemptions in the proposed changes, it's possible the tax is for the the high hanging fruit and the low hanging fruit. It very well may be a tax that does not discriminate. Outside Australia 183 days and derive an income from Australia, here's your 32% bill, or here's your reduced pension. In relation to the high hanging fruit, the wealthy, more tax to be raised because they can not hide within the 90 year old gray area, and for the low hanging fruit, the pensioners, a nice ongoing savings for Centrelink, and the possibility it indirectly forces pensioners, and their pension, back into the Australian economy for at least 184 days, possibly for 365 days. A win-win for the government even with the low hanging fruit. As said, with Australia approaching 1 trillion dollars of debt, the money has to come from somewhere, and in my opinion, the government will be chasing all the "fruit" it can, wherever they can find it. If not the current Labor government, the next Liberal government who commissioned the drafting of the legislation. So that's everyone from Paul Hogan to the pensioner, and fortunately for the government, it costs next to zero votes to put all the expat "fruit" in the same basket, because just about all expats never make our way to an Embassy at election time, so why wouldn't they make this legislation to apply to all expat "fruit?" . -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
I think the article is a good example of quick, and sometimes how easy, legislation can change to tax people. Either a completely new tax, or an increase to an existing tax. The current legislation around resident / non resident taxation is about 90 years old. Obviously, politicians think that legislation is well overdue for reform as well. Yet, some think the proposed changes will never be passed. It's interesting how, with a quick announcement, you can raise over $50 billion in tax. Where's the backlash. Why are people not up in arms? There's an interesting article on it today. Superannuation tax overhaul plans supported by crossbench senators (smh.com.au) I see one of Jacqii Lambie's group is for it. So much for cross bench members voting down any new taxes, particularly Jacqui Lambie and her group, instead of "swinging behind" new taxes? Could it be an "easy win" for Jim because this policy seems to effect the more wealthy? Aren't expat non residents, like Paul Hogan, viewed as wealthy? There's no means / asset test, or exemptions mentioned in the proposed changes, just as you mention, everyone is in the same superannuation boat. I guess all non resident expats will be taxed the same also. I wonder if the proposed changes will be passed to also "attempt to repair the budget bottom line" and raise another "X" amount of billions of dollars. Where will be the backlash? Why will pensioners in Australia not be up in arms for their fellow pensioners living overseas? Australia will soon hit a trillion dollars of debt. The money to service that debt has to come from somewhere, and the propose changes to legislation have already been drafted and paid for by the previous government. It's only a matter of time. -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
Interesting article. Federal budget 2023: Superannuation tax concessions in Jim Chalmers’ sights (smh.com.au) "Superannuation tax concessions worth $53 billion could be overhauled by Treasurer Jim Chalmers in an attempt to repair the budget bottom line, as the government moves towards blocking early access to retirement savings." I had no idea the tax concessions amounted to so much. It's almost as much as the aged pension. "Tax concessions on super are forecast to cost the budget $52.6 billion in 2022-23, just under the total cost of the age pension at $55.3 billion, according to an analysis of the October budget by the Australia Institute." -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
They call it "the 2 year prison sentence." -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
Didn't you say a "prolonged" stay would be fine? -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
You have to go back to the member's original post a few pages ago that stated this sub topic, It read to me, and some others, that he did not qualify for the pension, so transferred his money to Thailand, then went to Centrelink and said I have no assets / cash, so give me the pension. It was pointing out that this was an offense, but he shortly clarified his actions and it was left at that. Say you have $600,000 in the bank but you want to receive a full pension. (as per below) It's not as simple as transferring $320,000 to a Thai bank account and then saying to Centrelink I now only have $280,000 in the bank, therefore, I now qualify for the full pension. You can spend your hard earned, you just can hide it and then put your hand out. Well, you can, but if caught, there are consequences. When your assets are more than the limit for your situation, your pension will reduce. If you’re a member of a couple, the limit is for both you and your partner’s assets combined, not each of you. Your situation Homeowner Non-homeowner Single $280,000 $504,500 A couple, combined $419,000 $643,500 A couple, separated due to illness, combined $419,000 $643,500 A couple, one partner eligible, combined $419,000 $643,500 -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
As posted, try making several transfers of $9,999 and see what happens. It still triggers notification. The whole AUSTRAC discussion is off topic. A member pointed out that AUSTRAC tracks transfers over $10,000. Another member disagreed, stating AUSTRAC informs no other department of such transfers. So what is the purpose of AUSTRAC? -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
I agree, they will not be concerned by small amounts being transferred by an expat, to himself, on a fortnightly or monthly basis. A large amount, transferred out of Australia, so then the expat can cry poor to Centrelink and put their hand out for a pension, is different. Even many transfers of $9,9999 triggers notification. I am simply replying to the member/s that may think that if you are over the threshold in assets / cash to claim a pension, you can transfer that money to a Thai bank account and then cry poor to Centrelink. AUSTRAC knows how much money you moved and where you moved it to, and you would be committing offense, not by transferring, but by claiming to Centrelink you are broke. -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
Try making several transactions of $9,999 and see what happens. -
Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
Everyone's circumstances are different, and it's not about scare tactics. We are just discussing some proposed changes to government policy that may effect Aussie expats, no matter what age they are. -
VPN vs Cloud Computers for connecting to home from Thailand
KhunHeineken replied to WaveHunter's topic in IT and Computers
What's the name of the app? -
VPN vs Cloud Computers for connecting to home from Thailand
KhunHeineken replied to WaveHunter's topic in IT and Computers
I've actually found their sales and support quite responsive. Remember, they are on a different time zone. When I got mine, I was anxious to test them, so plugged them both into my network. They worked, but of course this is totally useless as you get the same IP address regardless. This was not for pairing. Your sister could move out of her house to another house, with another IP address, plug the home proxy dongle in, and it still works for you in Thailand. Like I said, these dongles don't do anything people have been setting up for years, with different hardware. I could buy a small travel router with VPN capability (I have posted a link to some previously) you could buy the same travel router. I set up the VPN, email you the config' file, you enter it into your router, and you have the same as what these dongles do. These dongles come as a pair, already configured for you. I then took the companion dongle to a relative's house and done a proper test and they worked well. I then traveled with the companion dongle to Thailand, and I have posted the results previously. The dongles maintain their configuration and settings after a power outage. I actually have my router and home proxy dongle plugged into a UPS in my home country, so can still connect for a while, despite a power outage. After you plug it in (flip up the little antenna or screw it on) it will give out a WiFi signal that is on a sticker on the bottom. On your laptop, when you search for a WiFi signal, you will have many to chose from. Your own, your neighbor's, Kiss Bar, Love U Bar, Big Boom Bar etc etc. Chose the dongle's WiFi and enter the password, also on the bottom of the dongle. You are now connected to your sister's network. I suggest you you change the SSID and Password to something more easily identifiable and easy to remember. On the first connection, select "automatically connect" or whatever it is on your router. That's it. When I just need fast local Thai internet, I unplug the companion dongle from power and just let it sit next to the router. When I need the IP address from my home country, I plug in the companion dongle and power it up and connect to it and job done.