Thanks for the responses. If I had millions I would split it in 3 offshores and claim residence in a country with zero income tax, but I don't.
4MyEgo sounds like our plans and motivations are similar. I hope mate that you have enough that you don't need to go back at 67. Do you mind me asking which banks allowed term deposits and being non resident? I have money in Ubank, Macquarrie and AMP, but am concerned, they could cancel them, if they knew I wasn't residing in oz. My plan is to go back to Oz next month and move money from Ubank, Macquarrie into 5 year term deposits, because it looks like interest rates have peaked. Would make sense to diversify and buy some dividend stocks, but no idea what to buy.
FYI, last month Commonwealth bank asked me to confirm address after only 8 months out of the country and threatened to limit transactions, when I tried to ignore their request.
It seems the consensus is to maintain residency and assets in oz. For anyone who has become non resident, what was the rationale? How is that going to play out in regards to getting the pension later?
