4MyEgo

This whole age pension tax thing living overseas is a huge balls up and confusing, but once you have a read of this, your not going to like it. It's a real eye opener. https://www.smsfmate.com.au/how-long-can-australian-pensioners-stay-overseas-without-losing-their-pension/#:~:text=The Age Pension and Taxation,-As an age&text=The pension is considered taxable,deduct tax from your payments. And then there is SAPTO https://www.ato.gov.au/individuals/income-deductions-offsets-and-records/tax-offsets/seniors-and-pensioners-tax-offset/#Incomelimits From my reading, they can take $0.32.5c in every $, no threshold as you are deemed a non resident, then they credit you SAPTO, $2,230, so this means you can lose a big chunk of your pension. You don't have to be a resident to claim SAPTO, but you have to qualify for it to get it, it's not automatic. Then if your like me, and have just enough assets to show you qualify, you get a double wammy, they apply a Deeming Rate of 2.5% on that, but allow you an income of $204 per fortnight. At then end of the day in my case it works at at half the pension, so not worth it, others might want to do there calculations as well to see if it's worth it. Maybe I can get rid of some of these assets in the next 4 years without them knowing ? At then end of the day, we can all play dumb and when the time comes, ah yeh, $50 per fortnight should be doable.

Who is saying we are not going to be separated, we will be, I am following the rules, to obtain the single pension, you have to be single, i.e. separated will suffice Vs getting divorced as it costs $1,000. This is not fraud, this is simply following the rules, if I remained married, i.e. not separated, they would provide me with less, e.g. half of the married pension, and of course I want more, so we have to separate, this is legal. After two years in Australia, I might find myself back in Thailand on the single pension of course, Badda Bing, Badda Bang, Badda BOOOOM, we have to play by the rules, their rules.

Fat chance of that happening as there are currently about 1.5 million people in the age range of 60-64 years of age with 16.9% already over 65 years of age. Say they did lower it to 65, and those aged 60-64 were coming to pension age, that would mean that they would have to fork out $26,000 per single person when they reach 65, now do the math on that, not including married couples. From my calculations if we assume 375,000 of them came onto the pension per year, that comes to 10 billion $'s a year or $40 billion in 4 years. Like I said, fat chance that is going to happen because the Social Security System is already forking out 20% of the Commonwealth Budget, i.e. $135 Billion in 2022-2023 and the government isn't just going to fork out $10 billion more a year just for votes, fat chance, but I'm in if they do, but....... ????

As far as I see it, if you say your separated, then your separated, as long as you follow the rules, i.e. the government provides a set of rules that states what they will accept as living under the same roof. As for holidaying in Thailand together, well, I would think getting on the same plane might be a bit suspect, perhaps sitting at separate seats might please you, that said, there are no set rules as far as I know about where you travel, who with, e.g. separated partner or where you sit, so there is no fraud or level of criminality that I see ????

It is best to read the rental car companies driver licence acceptance policy, that said, sounds like your USA drivers license and IDP should qualify. Also if you have a Thai drivers license some car rental companies and states accept that. I believe some car rental companies include insurance, but the excess/waiver is on you, normally $4,000AUS, you can buy the excess/waiver, but be prepared to pay for it, some don't include insurance so best to read the policy on the website of the rental car company. The above said, if you are thinking about taking out travel insurance, which I highly recommend, there are some policies that include an excess waiver amount up to $4,000AUS which is what I do as it's cheaper online than getting it from the car rental company, plus you get other cover for emergencies.

I recently had the Coolant replaced (5 litres) and want to know if it's ok for the Coolant level to be below the minimum level when the motor is cold. When the car is running, the Coolant level rises to above the maximum line and the temperature gauge doesn't go past midway, and when the car is left overnight, the Coolant level is below the minimum line, literally where the inlet hose connects to the Reservoir. Went back to the dealership and they said, it's ok to be like that, but the owners Manuel says otherwise, i.e. the Coolant level should be between the minimum and maximum level, so I am just wondering what others think as I can't say I trust the mechanics that I have dealt with here before, long of the short, they have said the problem with other things at times was this, and that, but it wasn't. Last but not least, the Coolant has changed colour from light pink to a purple colour and yes I know it runs through the motor and that maybe the cause, so just asking, if this normal as I am old school, pre-alloy heads. The mechanic drained and changed the Coolant because there was a warning light stating Coolant overheating and the temperature gauge was at 3/4's, hence the reason the Coolant was drained and new Coolant added, and the temperature gauge is back to where it usually is, i.e. 1/2 way, however when I put my hand on the side guard, either side, the guard's are really hot and I am thinking maybe time to change the thermostat as the car is a 2016 pickup and has 200 + clicks on it. As usual, appreciate any feedback. EDIT: I did add a litre of the same Coolant and another litre of distilled water at another time, but back to the same level when the engine is cold. There are no leaks that I can see.

As a foreign resident, I don't have to lodge a tax return in my old country, so good luck getting anything out of me ???? If ever queried, well, it's savings, see, look at my banks account, not bank accounts ????

If you purchased a property in Australia 10 years ago, yes it would have probably doubled, however, would you be having the LIFE you have in Thailand, or would you be working to survive, i.e. having using all of your savings to purchase that property. On the other hand, is you purchase a property in Oz as an investment, $0.32c in the $ would be taxed, and you wouldn't be able to claim anything against the property, i.e. rates, insurances, repairs, agents commission, etc, etc, and then you would be up for capital gains tax from the very 1st day you purchased it, e.g. 2010, not when you left the country as it used to be, legislative changes in 2020, so you would be giving a HUGE slice of that capital gains on your investment to the government, on top of the 1/3rd in taxes that you collect in rent. The above said, I did the exercise recently having sold up 8 years ago and seeing the my old property resold, and I am well ahead for that 8 year period vs holding onto the property, as my investments are tax free and capital gains tax free. Nothing wrong with that, you lived in it mortgage free, rent free and can re-coupe your money if you ever decided to sell. Don't forget, you have LIVED a different LIFE here vs back in Oz. In my opinion, you can have your cake and eat it too with the right tax free investments vs owning property back in Oz and paying taxes and sacrificing this lifestyle if living in Oz, it just depends on what you want in life, for me, no amount of money can replace my freedom to choose what I want to do, when I want to do it and how I want to do it, never a slaveagain. It it not an over-capitalisation, it is debt free, no mortgage, no rent to pay, it's yours (or your wife's) and you can re-coupe the money paid for it when and if you sell up. It's the sacrifice you make for the lifestyle change. To me, building this big house for 2 mil was worth every penny spent, i other words, it has cost me about $200 per week to live here, 6 beds, 3 baths, well insulated and cool. If I was living in the place I sold back in Oz, it would cost me a minimum $700 per week to rent it, that said, I did own it outright, however my money was tied up in it, so my lifestyle would be to work to survive vs using that money to invest and receive a tax free income here, with no capital gains tax payable and I LIVE the life I want, like I said, no more a slave. I knew when I built this place that I would more or less be worth what I paid for it, that said, that said, at the time, back in Oz you could probably build a one bedroom granny flat or a double brick double width garage for the same outlay, so to me, it was the freedom factor, the living off of my life savings as opposed to being asset rich, cash poor. Haven't regretted it one bit, that said, you have to have money to live anywhere and keep earning as living on the pension would be restrictive, regardless, so using your sale of your assets via tax free investments gives you a good quality lifestyle here.

Why would that be a big risk, are you up to date with the tax legislation in Australia for non residents ? So what your suggesting is because we sold our principal place of residence, we lost out on the increased value, I believe you haven't done the math, you see as a non resident, you pay 1/3rd of the rent in tax from the very 1st dollar and you can not claim anything on the property, like rates, repairs, levies if strata title, etc and then you will be up for, get ready for it, capital gains tax from the very 1st day you purchased the property, not the day you left Australia, those rules changed in 2020, so if you purchased your property in 1980 and sold it in 2021, your capital gains tax will go back to the very beginning, i.e. what you paid for it, not the value of it when you left Australia, so in my opinion, unless one was absolutely going to return to Australia to live, they would have rocks in their heads as a non resident to hang onto their property. Now as you mentioned above, people "selling" their property, would mean that they are asset poor, cash rich, so why would they regret it, I mean there are income streams and other investments that provide tax free earnings vs holding onto property which is taxed to the hilt if you hung onto it. I have zero regrets selling my place, actually it resold this year again, I sold it some 8 years ago when I came here and when I did the calculations on the increase of value vs the capital gains tax that I would have had to pay as a non resident, not to mention the 32c in the $ from rent in tax, I am miles ahead from having sold up and investing elsewhere as it's been tax free and capital gains tax free ride. If you have a property m8 and are living here as a non resident, you will have regrets when you sell up, so would be taking the bigger risk ?

Yeh, in the 90's I was making $20 an hour cash in hand on a Friday and Saturday night doing the Eastern suburbs runs, short burst to the City and then back, and as the morning driver wouldn't rock up till 6am, I got to keep the taxi from 3pm to 5.30am and was taking home about $300 a night, so two nights work was considered good money (tax free) for me, but wouldn't recommend those hours to anyone. I love driving, so if I could find a job driving out of Sydney, deliveries, I'd be happy with that, as long as the salary was good.

He'd have to be a resident to pay that kind of capital gains tax, i.e. if he sold his shares before 12 months, as you stated, the investment must be held for 12 months to get the 50% capital gains tax discount, after 12 months he would pay capital gains tax at the rate he is being taxed on, e.g. if he was earning $50,000 and his capital gains was $30,000/2 = $15,000, they would just add that to his salary, say $65,000 as tax it at that rate.. On the other hand if he was a non resident for tax purposes, he would pay zero capital gains tax regardless of how long he held his shares, e.g. 1 week, 1 month, 10 months, there would be no capital gains tax payable.

I learn something everyday, will test it out.

Did I mention I drove taxi's back in the day when doing my degree's, no thanks, don't want to deal with "interesting people" driving a taxi teaches you a lot.

I don't have a problem with CBA who I also use to trade shares through Commsec, there is also NAB and ANZ. As long as you let them know to apply the withholding tax, they can't do anything as it's a requirement of the ATO. That said you could ask the banks what their policies are on non residents before acting. I did have an account with ING for 2 decades and they shut me down one day saying that their policy change didn't allow for non residents anymore, fair enough, I just told them to lift the threshold limit and transferred my money in that account to the two others I was holding at that time, then opened NAB account online from here and picked up my card at the branch 6 month's later when I was due to go back to AUS for a short break. There is no tax payable or capital gains tax payable as a non resident, so if that is your angle, put money in the banks and pay 10% withholding tax on the interest, if you invest in the stock market, fully franked dividends pay the tax before paying you so there is no problem there, and there is no capital gains tax payable when you sell shares. With regards to the pension, make sure you get ride of everything except what they allow as the threshold for a non home owner, e.g. $543,750 to qualify, they will apply a Deeming Rate and reduce your pension, but that will be minimal. The only bad part is they will apply it when you go to live in Thailand as well, can't have your cake and eat it too so to speak. But when in Oz, you will get the Supplement about $80, Energy Allowance about $14 and rental assistance which is about $185, all are per fortnight, but will lose the rental assistance when you leave, and the Supplement will be reduced by at least 2/3rds after 6 weeks, with the Energy Allowance going all together. Got to do your homework, I unloaded a lot to my daughter, but I have a Caveat on the place she purchased and she can't sell it without me getting my money back, but she has a great deal rental wise, so she's happy as, besides I have also have a will stating that if I pass the Caveat is lifted as she is the beneficiary. I want to go back to get the 50k baht, I think two years back in Oz alone will do me good and make me want to come back here even more. Like I said in other posts, don't need to, but hey, "a bird in the hand is better than two in the bush" and I figure is I live for another decade whilst getting the pension that's $270k AUS for the girls here because it will be put aside for them, which works out to be about 6 million baht divided by two, not chicken feed in Thailand and will give them a good start, along with what mum will give them from her will that I made out for her. You need to do your homework, and perhaps speak to a financial planner who maybe able to set you up for the pension in years to come or do your own research as I did. My plan is going great so far, just got to get to the pension age, do the 2 years and live as long after that to maximise what the kids get.

Why would they change something that will cost them a lot of money, most expats (non residents) cannot vote, so it's not a threat to them, so why change things if it's not a threat. I do believe it was 12 months at one stage, not 100% sure on that, but suck it up, others have gone to the front line and so will we, you just got to plan it well beforehand and do your time, could be worse, you could be going to the Bangkok Hilton ????

If your dividends are fully franked, the tax is paid before they pay you, I believe it's a flat 30% so it shouldn't affect you. If you're shares are unfranked, you have to pay the tax on them, I believe the same rate would apply. The above said there is no capital gains tax paid on shares if you are a non resident for tax purposes so it could work out well for you if you consider yourself a good investor, that said the market has been <deleted>e for the last year or so with everything going on, but you can still make a buck.

I applied for mine online from over here and used it for the 10 days I was there last year, using the Seniors Opal Card. How are they going to know if your a resident or not, come on, sometimes you got to break the rules.

@FlorC I just checked my statements and unbeknown to me AirAsia reimbursed me the whole amount back in May, some 8 months after the flight cancellation, so got to be fair and call a spade a spade, that said, I think I should get me a credit card so as not to have to wait for such a long time in the future, as the stress is not worth it, however won't be looking at paying an annual fee is that exists.

Is it better to be single or attached in Thailand? To answer you're question to the heading: I believe attached, otherwise you could find yourself spending too much time on forums, no names mentioned ???? Really you want to know the pros and cons. As for shagging across small cities, why bother, your partner should accommodate you at least 3 times a week, and when it's that time of the month, you can go up the road if you like a bit on the side. You have this thing for bar girls don't you, been bitten have you ????

Just calling a spade a spade as opposed to giving you what you seek, that is reality. The water awaits you, "up to you" as the Thai's say, I'm sure your wife would be very happy, as another saying goes, "happy wife, happy life".

What a pitiful existence you live. I feel for your wife and when the time comes that she finds the strength to leave you for causing her so much misery, a real man wouldn't do such a thing. Alcoholics fall by the wayside every single day, you are no different, that said, I have only seen one who sought help and beat the addiction, a decade later he still feels like a drink, but stands his ground knowing and admitting that he is an alcoholic, even being sober after a decade. I have lost a brother and a father from this disease and know others who have as well, the suffering watch them endure is beyond anyone's help, as the old saying, you can lead them to water, but you can't force them to drink it. Do I have any sympathy for you, well I wouldn't be human if I didn't. The choice is yours, but please spare us all the post of your perfect day, perhaps next time change your heading to "Just a pathetic day"

That's a good question, I hear if you use a credit card the lender can will reimburse you as they will sort it with the airline, I am waiting over a year for AirAsia to reimburse me for my flight that was cancelled. Sent them heaps of emails after they said my refund was approved, provided them with all of my account details, have sent them emails but to no avail, so looks like a lose to me, but a BIGGER one to them as I won't use their airline until I get my money back, x's that by 4 of us that fly.

I didn't get a chance to break a Thai girls heart, married the 2nd bar girl I slept with the 2nd time I came to Thailand, that was 16 years ago. I also sleep with other Thai girls, does that break her heart, don't know, you'll have to ask her, she says just do what you got to do, but don't bring me any diseases, and don't leave me for a Katoye. I know, I know, true love is hard to find, for some ????

Don't get me wrong, I prefer no cops on the road vs cops on the road, but it would be nice to see them out and about sticking it to the cowboys. The corruption, well, as little as it is on my side, had to fork out 500 baht at immigration the other day to transfer the stamps onto my new passport, it's free, but you try arguing with those bozzo's, and yes it's a little amount but it still urkes me, could have used that for tonight and Saturdays drinks ???? Still an 8, but then again the weather can be a little trying at times as well as the smoke burning, don't start me or that would be another 2 off the cuff when I think about it.

Here 8 years, built a big comfy house to which I could only dream of back in the old country. We won't mention the cost of living being about 1/3rd of what it is back in the old country. I have always said this, if you have money and live in Thailand, life is good, if you're on the pension, you still have a better life than back in the old country by far, but have to budget wisely, that means no more than a meal a day to compensate you for those 10 large ones at the local water hole every night ???? Thailand 8, the reduced score is 1) because of the corruption and 2) lack of police presence on the roads to control all the idiots who can't drive/ride. The last few years in farang land, 4.