BaanOz

12 hours ago, ELVIS123456 said:

buy within a super fund

OK found some info explaining about how franking credits are distributed within superannuation funds...

https://cuffelinks.com.au/direct-investment-options-deal-franking-credits/
 

Quote

The Fund uses its total franking credits to offset the total tax liabilities it pays. It achieves this because the assets supporting each investment option across the accumulation and pension phases are combined in the one entity. The franking credits are then allocated to the investment options that have exposure to Australian equities. For example, franking credits received in the Member Direct investment option are attributed to members in the option so they receive their respective benefit of the credits.

Basically, what I'm getting at is (it seems) if investing money within super as a non resident I will receive a few percent more income due to franking credits ?
 

...unless Labor get their way.
 

10 hours ago, ELVIS123456 said:

I assume you are meaning a self-managed Super fund?

Thanks Elvis,
 

No, a SMSF becomes "non complient" if trustees become non residents.

I think it's possible if you make a trustee a resident but they are meant to make decisions about the SMSF in Australia. Might have to have meeting too I'm not sure.

As a non resident it is easier to have a normal Australian superfund.

What I meant if you had money outside of super and investing long term for income, it might be better for tax (for non resident) if you did it within an Australian superannuation fund. Really need professional advice but say you invested in for example some Vanguard ETFs (for income) outside of super, you could do the same within. Some fund allow direct investment rather than the cash, conservative, balanced, growth, high growth.

Yes the government can stuff around with super but if retired you could pull it out. I wouldn't be adding money if I was young :)

On 3/31/2018 at 11:54 AM, ELVIS123456 said:

Funds taken from a normal Super fund are not taxed - doesnt matter if you are resident or non-resident.

Was also wondering if it's possible our tax free super could be taxed in Thailand. I don't think so.

If all things being equal (fees or brokerage, returns etc), comparing $'s inside and outside of super as a non-resident, I'm thinking better off inside of super.

Reason why, unfranked dividend being taxed as a non-resident plus no franking credits which are built into the returns of the super funds.

Also, you can do your own buying within some super funds and take advantage of the tax situation. Any thoughts?
 

22 minutes ago, scorecard said:

 

Decades ago both of my parents used the Public Trustee office (I guess it's now called NSW Trustee and Guardian).

Thanks, yes it's the same thing. Just a name change and now they charge for wills ?. Back then I don't think they did.

Anyway I've a feeling it's the NSW Trustee and Guardian (Public Trustee) only way to go for us. Unless you have relos back home, I'm guessing expats here would use them (or similar) too.

 

On 6/6/2018 at 2:01 AM, baansgr said:

Exactly, that's why people should try to have their affairs  in order

Our cash is and will stay put in Australia and we living in Thailand. My Aussie/Thai wife and I are thinking to use NSW Trustee & Guardian and as executor. Everything going to her family if we "go" together and if I go first want to make it easier for Mrs Baanoz.

Wife has no family in Australia and I am the youngest of my siblings. We have no other family I would trust to be executor. Whoever is the executor would have to sort out and transfer to the wifes family.

Anyone with ideas about this and wondering what others have done, is there any other options other than using the Australian Public Trustee? I'm thinking using a solicitor/lawyer as an executor could be riskier.
 

4 hours ago, 4MyEgo said:

I just looked up the renewal form that I completed (attached link) and it says you can do it once from overseas, oh well guess I will plan another trip around the time its due for renewal and get it done when in Aus in two years (60) when I go to cash in my super (happy days).

 

http://www.rms.nsw.gov.au/documents/about/forms/45070563-photo-kit-nsw-licensee-temp-overseas.pdf

Just had a look at this form.
I'm curious, who do you get to witness? I'm thinking best place is an Australian Embassy.

 

Quote

The witness must be from overseas and one of the following:

1. The Head, Australian Defence Staff or Commanding Officer or Officer Commanding an overseas Australian Defence Force contingent, unit, ship or establishment.

2. A person appointed or acting, in a country or place outside Australia, as the Australian: Ambassador, High Commissioner, Trade Commissioner, Commissioner, Head of Mission, Charge d'Affaires, or Consul-General, Consul, Vice-Consul, Consular Agent, or Counsellor, Secretary or Attache at an Embassy, High Commission.

BTW enjoy that super cash! :)

 
I was 55 at the time, never had an eye test, just paid the fee and put in a photo, now to think of the last time I took an eye test is frightening, as my renewals would come in and I would just go and pay, and cannot remember doing an eye test.
 
This must be a recent change ? 
 
I just looked up the renewal form that I completed (attached link) and it says you can do it once from overseas, oh well guess I will plan another trip around the time its due for renewal and get it done when in Aus in two years (60) when I go to cash in my super (happy days).
 
http://www.rms.nsw.gov.au/documents/about/forms/45070563-photo-kit-nsw-licensee-temp-overseas.pdf

Haha, yes the eye test is frightening.

Woman sitting on the other side of the counter asked me to read the bottom line (there are 3). Must have got at least one wrong. Asked to read the middle and must have guessed right :)

There is one more line on top and not sure if you read that one ok then you pass. If that is the case I think I’d be ok. There is some eye test standard and rta has it written somewhere but not sure if it’s the top line.

Anyway thanks, good to know you can apply once from Thailand :)

I can wait until Google, Facebook, You Tube,Twitter or any other net management party choose to provide the service for free based on the volumes of tedious information collected - I'm not holding my breath [emoji16]

Fair enough collecting data these being free to use sites but if I can turn off data collection or block it then that’s my choice. It’s not hard.

All of the data collecting afaik can be turned off your Google account but can break stuff. I turned off the voice recording and my Google Mini stopped working.

I turned it off because the Google Mini was next to our TV and the TV occasionally sets it off (thinks it heard Hey Google from the TV). When that happens it can record our conversation and store on Google.

Will turn recording back on but move the Mini away from the TV :)

On 6/1/2018 at 8:04 AM, ELVIS123456 said:

As pointed out, every post you make using your mobile phone network can be 'traced' to you,

You can use a VPN on your mobile too. I use one at work while on their wifi but can leave it on all the time.

Also, on a PC to cover Microsoft have a look at Spybot Anti-Beacon. A few clicks and your done ?

On 5/24/2018 at 2:28 AM, BEVUP said:

Yes good old Auss, way behind the times

Under 45 your ok & can get a 10 yr Lisc. 

Over 45 you have to do a an eye test every 5 yrs (at a motor registry ) & only get lisc. for 5yr - Now why cant these fools except a medical cert. from a Doct ( not that they would believe an out of country one anyway ), so it can be done on line.

The Lisc. shall be sent to your Home land address - You can only apply once out of state (not back to back )

No Auss institute sends overseas

 

 

Do you want the good news or the reeeally good news?

Just been for the NSW car licence renewal and the good news is it was half price (A$90) as I have had no demerit points in 5 years.

The really good news is I passed the eye test after the woman said "ohh your squinting a lot" hahaha. Middle line was a bit of a blur but must have guessed it correctly. Yay?

BTW if you have a condition on your licence "glasses" and get pulled over not wearing them it's around a A$450 fine.

Next time in 5 years, a good chance I'll need them ?

Edit: 5 years ago (and every previous) I waited a bit and got the licence on the spot. This time I got a temporary paper licence and the plastic one is sent to your home address within 5 days.

Not sure of your circumstances but its usually no eyesight test (or photo) is required if the last one was under 10 years ago.

 

Over 45 it’s every 5 years for eye test. Yes 10 for photo.

 

I always get the max 5 year licence so it’s a check every time for me.

 

 

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Not sure of your circumstances but its usually no eyesight test (or photo) is required if the last one was under 10 years ago.

Over 45 it’s every 5 years.

I always get the max 5 year licence so it’s a check every time for me.


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You can do NSW online, a couple of friends have done it.
 
https://www.service.nsw.gov.au/transaction/renew-nsw-driver-licence

Yes, just checked and I can’t do online. Need an eye test. Damn!


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I renewed my Queensland licence online last last year - no problems.

 

Ahh maybe just NSW behind the times. I have the renewal in front of me and no online option. Have to show up for a photo and eye test.

 

You can get a 1, 3, 5, 10 year expiry but with the 10 must be under 44 [emoji20]

 

Edit: ohh I need my glasses! ...a small box saying “you may be eligible to renew online”. Will try.

 

 

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Just renewed my U.K licence, took 5 mins online... I prefer to have both Thai and home country valid at all times..

 

Thant is good you can do it online.

I think Australians need a photo and eye test.

 

 

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On 23/04/2018 at 4:13 PM, Suradit69 said:

Generally the non-imm O-A can only be applied for in your home country or country of legal residence,

 

After you've exploited the two years  stay in Thailand on one O-A visa, you can apply for a yearly extension of stay at immigration in Thailand. Some people prefer to get a new visa, but for most it's easier just to rely on annual extensions in Thailand rather than go back to your home country and go through the process of getting a new visa.

Thanks Suradit, was thinking a reason to go visit the relos in Australia every 2 years plus good not having the 800K in a Thai bank.

Although, I have read at the Australian Embassy just a signature on a statutary declaration with no evidence of the 65K/month income. So my second point of showing 800K baht is a pointless! :)

Just a thought, if you need a police check everytime you apply for this visa, I wonder if you can apply outside of Australia otherwise that holiday in Oz might be extended up to 5 weeks or more.

23 minutes ago, ubonjoe said:

It is not an extension. It is a visa that allows unlimited one year entries for a year from the date of issue.

Ahh makes sence thanks.

Seems for me a good way to stay long term is to apply in Australian and get 2 years in Thailand.

Every 2 years return for a holiday in Australian for a week or two and apply for another visa.

Good things, money left in Australia (800K) and just the AUD$275 visa fee. Also, sounds like I can leave and return as many time if I like. Nice :)

I understand if you do an extension based on retirement in Thailand that extension does not allow mulitple exits without some other requirement (not sure what).

 

Cheers.

 

 
I thought I'd share my experience in obtaining an O-A in Australia.

Good info thanks!

Just wondering how you get 2 years out of this extension please?

Before end of 12 months you leave by airport or border and when you return it’s extended again? How’s that work?

Cheers



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8 hours ago, swissie said:

Farangs picking up Soi Dog droppings!

 

Ahh Soi Dog Foundation. I recently asked them about volunteering and even seems perfectly fine on a 30 day visa exemption

"Great to hear that you are thinking of coming to volunteer.

 

Most people who come to Thailand and as part of their trip want to volunteer at Soi Dog, do so on a tourist visa, which is perfectly legitimate.

 

I am attaching the volunteer guidelines for you reference - just let me know if you have any other questions".

All this tax talk, was wondering if anyone knows if there is any issues (tax) receiving a pension from an Australian super fund as a non-resident. I understand some funds don't allow non-residents but mine does.

Reason I ask is I was thinking to drop a non-concessional contribution to bump it up and get a pension from it when the time comes. Wondering if there would be a difference doing that or investing that money outside of super as a non-resident.

AFAIK there would be no tax either way except as a non-resident receiving dividends that are not 100% franked you would pay tax. I guess you can invest in cash/interest within a super fund and pay no tax too whereas outside as a non-resident pay 10%.

This is a question today before/if the government fiddle with the franking business!
If that happens who knows what will be left of the super fund.

On 08/11/2017 at 1:30 AM, AboutThaim said:

I calculated it used to cost me about $40 to withdraw about $500 AUD from any ATM here.  That included the fee charged by my Oz bank, conversion to baht and ATM fee.  I started using Transfer Wise, opened an account (Kasikorn) and got a debit card.  Now the only charge is for transfer from Oz to my Thai account which is less than $10 for my pension.  Transfer Wise gives the market rate for exchange.  If my card is used away from the local area there is a 15 baht charge.

I did have a problem opening a local account until I told them I had to have money in a Thai bank to apply for an extension (as advised by the local IO). 

So if you are here to stay open an account and get a card.

This is the only post in this thread mentioning an amazingly brilliant idea to avoid the B220 fee and I'm wondering why people don't do this, am I missing something?

Why not open a local account and transfer money using a no fee/good exchange rate international transfer from your "home country" bank.

Hide away your "home country" debit card and use the local ATM card. If anything happens to the local card, much easier to sort out.

Isn't this the best way to avoid that fee?

After 25+ years living with a Thai, after all this time still telling her to turn the extraction fan on HIGH when she starts cooking but never does until I'm running to open all doors and windows.

Cooking stuff that chokes all others yet she doesn't notice :D

 

9 hours ago, eezergood said:

Honda BIg Wing

 

Ahhh thanks, know the spot but didn't know a school.

 

Cheers!