Que for Ozzies in Thailand. Do you think the THB/AUD will go down?

[DavisH]

4 minutes ago, Aussieroaming said:

hahaha well i did contribute handsomely to the money pool. Maybe instead of the pension Australia can do the same as Thailand and issue us with a special badge called the tax suckers badge

The stupid thing is that its just based on residency (not the fact you paid huge sums into the system). I could go back for the next 20 years and live on the dole, qualify for the pension, then return to LoS. I have no intention of even going back to work there though. The thought of 40% tax or more puts me right off:)

[Aussieroaming]

1 minute ago, DavisH said:

The stupid thing is that its just based on residency (not the fact you paid huge sums into the system). I could go back for the next 20 years and live on the dole, qualify for the pension, then return to LoS. I have no intention of even going back to work there though. The thought of 40% tax or more puts me right off:)

The tax drove me out. I was literally working 7 days a week, 12 hours a day and the taxman was taking the optimal amount. Totally waste of energy and the Super Fund I was in was doing a great job of decimating my super. 

[bazza73]

10 minutes ago, Aussieroaming said:

Me either, hence why I'm setting my own pension funds up with stocks. To be frank who can guarantee what the Aussie pension would look like in 15 years anyway. I would rather sustain myself than rely on the pension system if given the choice.

That's all well, provided the stocks don't tank as well. I'm trying to diversify by putting money into peer-to-peer lending.

[bazza73]

43 minutes ago, GreasyFingers said:

Sorry Bazza but you are not correct. You have to prove that you reside in Aus. Even though I had a company there, all my bank accounts there, still paying taxes, I failed the reside clause as I had benn in Thailand on and off for three years before. I was in Aus when i made the appication and failed again with three reviews.

You're right. I was referring to those people who maintain residency in Australia, but are not in Australia when they become eligible.

[Aussieroaming]

1 minute ago, bazza73 said:

That's all well, provided the stocks don't tank as well. I'm trying to diversify by putting money into peer-to-peer lending.

We day trade and have long term stocks, plus term deposits.  Get Jack from the term deposit but if it covers the inflation rate we arent actually going backwards

[weegee]

13 minutes ago, Aussieroaming said:

We day trade and have long term stocks, plus term deposits.  Get Jack from the term deposit but if it covers the inflation rate we arent actually going backwards

Excuse me....could you tell me please, which term deposit supplies JACK (Daniels). I would like to join....

[bazza73]

16 minutes ago, Aussieroaming said:

We day trade and have long term stocks, plus term deposits.  Get Jack from the term deposit but if it covers the inflation rate we arent actually going backwards

Unless the term deposit is 3 or 5 years, you probably are going backwards.

[owl sees all]

Bitcoin

 

PMC ounce

[StevieAus]

On 11/22/2017 at 5:51 AM, bazza73 said:

The deficit has grown under the Liberals. National Broadband has degraded under Abbott/Turnbull, and is now a laughing stock in Asian countries. Offshore detention costs about $9 billion a year. It would be cheaper to give each arrival half a million dollars to piss off.  Negative gearing, CGT discounts and family trusts have completely deformed the Australian tax system. The budget deficit would be resolved overnight just by eliminating negative gearing.

If you want to believe Coalition BS, go ahead. I can't wait to vote the incompetent pricks out.

And another thing - the Liberals are definitely NOT an OA pensioner's friend.

My My you socialists have short memories, Labor introduced the National Broadband which was always going to be a disaster, blew a huge surplus that they inherited and of course they never attempted to abolish negative gearing or any of the other points you raise whilst in government.

As far as immigration is concerned would you rather have the Angela Merkel solution and the massive social problems it has created?

I don’t believe the coalition bullshit because Turnbull is useless and should be in the Labor party.

Totally agree the way they have treated pensioners is appalling and for that reason deserve to be punished I don’t receive the pension as I realized many many years ago I would need to look after myself and am happy that I can live here

Anyhow as with religion like politics we will agree to disagree !!

 

[bazza73]

4 minutes ago, StevieAus said:

My My you socialists have short memories, Labor introduced the National Broadband which was always going to be a disaster, blew a huge surplus that they inherited and of course they never attempted to abolish negative gearing or any of the other points you raise whilst in government.

As far as immigration is concerned would you rather have the Angela Merkel solution and the massive social problems it has created?

I don’t believe the coalition bullshit because Turnbull is useless and should be in the Labor party.

Totally agree the way they have treated pensioners is appalling and for that reason deserve to be punished I don’t receive the pension as I realized many many years ago I would need to look after myself and am happy that I can live here

Anyhow as with religion like politics we will agree to disagree !!

 

The National Broadband under Labor was going to be on a par with most other countries. The cut-rate version Abbott forced on Turnbull when he was Communications Minister resulted in the mess we have now.

Your memory is short too. Labor blew the surplus in order to protect Australians from the worst effects of the GFC, and we survived a hell of a lot better than many other countries.

Shorten went to the last election with a proposal to restrict negative gearing to new properties only. The hysterical reaction from the Liberals said it all.

I don't know what the solution to illegal immigration is; however, keeping people locked up for years at huge cost to make a political point

doesn't make sense to me. Perhaps if we scrapped the legal 457 visas which take jobs from Australians, we would have more room. Oh sorry, I forgot - businesses couldn't get cheap labour then.

As I've said before, the Liberals are not any pensioner's friend. You are lucky to be able to support yourself. So would I be, if it had not been for the abject incompetence of ASIC in protecting investors from the con men and shonks that still infest the Australian financial markets. Bridgecorp, Shakespeare Haney, Provident Capital, Hastings Capital, Elderslie Finance, MFS, City Pacific.... the list goes on and on.

I do appreciate the fact we can disagree without getting personal. I don't mind being called a socialist. That conversion happens when one is legally robbed of a considerable part of their retirement savings.

 

[Peterw42]

3 minutes ago, bazza73 said:

The National Broadband under Labor was going to be on a par with most other countries

The NBN under labor was a Debt funded private company, in simple terms the Gov set up a private company and told them to "borrow" 40 billion dollars to build a network. Thats the same as the gov setting up a "trips to the moon" company and telling them to borrow money and do trips to the moon.

As a private company, the NBN could not service the 40 billion dollar debt unless they already had Australia wired up, and were collecting money. It was never going to work.

 

9 minutes ago, bazza73 said:

Labor blew the surplus in order to protect Australians from the worst effects of the GFC, and we survived a hell of a lot better than many other countries.

No, labor was "printing money" to protect from the GFC. A bit like having a shop and taking money out of the till and walking around the counter to buy your own product, to stay in business. And we are still paying for it.

 

12 minutes ago, bazza73 said:

Shorten went to the last election with a proposal to restrict negative gearing to new properties only. The hysterical reaction from the Liberals said it all.

Negative gearing is nothing more than running your rental property as a business, the same as if you own a truck and claim the truck repayments against your income. No negative gearing and the rental market goes underground, no tax when the properties become positively geared or sold.

 

17 minutes ago, bazza73 said:

Perhaps if we scrapped the legal 457 visas which take jobs from Australians, we would have more room. Oh sorry, I forgot - businesses couldn't get cheap labour then.

Australia is the only country in the world that does not manufacturer whitegoods, no access to cheap labor, in fact the highest paid factory workers in the world. All manufacturing countries have access to cheap labour, who do you think assembles BMWs, cheap migrant workers. 

 

23 minutes ago, bazza73 said:

As I've said before, the Liberals are not any pensioner's friend.

Coudnt agree more, going after pensions and super is economic la la land.

[bazza73]

1 hour ago, Peterw42 said:

The NBN under labor was a Debt funded private company, in simple terms the Gov set up a private company and told them to "borrow" 40 billion dollars to build a network. Thats the same as the gov setting up a "trips to the moon" company and telling them to borrow money and do trips to the moon.

As a private company, the NBN could not service the 40 billion dollar debt unless they already had Australia wired up, and were collecting money. It was never going to work.

 

No, labor was "printing money" to protect from the GFC. A bit like having a shop and taking money out of the till and walking around the counter to buy your own product, to stay in business. And we are still paying for it.

 

Negative gearing is nothing more than running your rental property as a business, the same as if you own a truck and claim the truck repayments against your income. No negative gearing and the rental market goes underground, no tax when the properties become positively geared or sold.

 

Australia is the only country in the world that does not manufacturer whitegoods, no access to cheap labor, in fact the highest paid factory workers in the world. All manufacturing countries have access to cheap labour, who do you think assembles BMWs, cheap migrant workers. 

 

Coudnt agree more, going after pensions and super is economic la la land.

The last time I looked at the ASX, there were plenty of private companies with debt. It would have worked but for the sheer negativity of Abbott and his right-wing cronies.

 

Every country was printing money during the GFC. In hindsight, we probably should have printed more to match the Yanks. We are paying for it now because Abbott and Hockey destroyed the Australian automotive industry. It only cost the Minerals Council $20 million in advertising to ensure Australian resources would not be taxed as they should be. Peanuts to the likes of BHP Billiton, Rio and Glencore.

The Liberals want to cut the company tax rate. This is a tax which is dodged by the likes of Apple, Google, News Corp etc. If you can explain the logic of cutting a tax which is avoided by most multi-nationals in Australia, you're a better man than I am.

 

Negative gearing is a tax rort. It's BS that the rental market would collapse, even the Grattan Institute admits that. Restricting it would make housing more affordable to young Australians. Perhaps you are so young and hansum you are not aware of that.

Why do you think the Liberals went apeshit when Shorten put negative gearing into play? Because a considerable number of our esteemed MP's in Federal and State parliaments are in it up to their eyeballs. From memory, one Liberal MP has 19 properties, all negatively geared. Pigs at a trough.

 

When you go to Australia and stay in a hotel, who do you think cleans your room? Filipinos. Buy petrol for your car, 90% of the time there'll be an Indian behind the counter. The vegetables and salad you eat come from a market garden where the owner employs Vietnamese. All on 457 visas to cut production costs.

 

It's not just cheap labour that enables manufacturing. Import a car into Australia, duty is zero. Import one into Thailand, 100% duty. Import one into Japan, and it will sit on the docks for 6-12 months while "safety" inspections are carried out.

 

Please continue - I enjoy watching people trying to defend the indefensible.

 

 

[davidst01]

23 hours ago, Aussieroaming said:

They call it the lucky country because they have to convince a nation that's being taxed to death that they are lucky to be there. Tell me that a person with a million dollar mortgage on a sh*tty 4x2 is lucky or that a person who hasnt had any real wage growth for 5 years is lucky. The only people there that are lucky are the politicians leeches who suck the life out of the general taxpayers

I agree. oz is no lucky country. It was 25 yrs ago

[davidst01]

On 11/21/2017 at 11:58 AM, steven100 said:

Not worth worrying about ....  you can't change it and it certainly not worth sending thousands of dollars just to get in any earlier.

AUD $1   =   24.80     

yes but what if it goes down to 22 or 20???? It is worth worrying about now

[steven100]

1 minute ago, davidst01 said:

yes but what if it goes down to 22 or 20???? It is worth worrying about now

hmmm ....  well that's certainly a worry but what are you gonna do anyway ...

[davidst01]

2 minutes ago, steven100 said:

hmmm ....  well that's certainly a worry but what are you gonna do anyway ...

transfer funds to thailand this week and get a rate of 25. 

[steven100]

3 minutes ago, davidst01 said:

transfer funds to thailand this week and get a rate of 25. 

I think it will be around the 25 near term anyway ....  It did drop some but I think a slight correction will take place .. just my opinion.

[bazza73]

1 hour ago, steven100 said:

I think it will be around the 25 near term anyway ....  It did drop some but I think a slight correction will take place .. just my opinion.

When the big boys in finance get nervous about US debt and the American dollar, Australia seems to act as a kind of proxy reserve currency. We have relative political stability ( OK, not just now ) and a consistent legal system. We could probably be a lot better with more sensible government policy on tax reform and energy. We do sit better than many other countries.

So I'm not too worried about the dollar/baht rate. I can wait until it improves. I'm happy with anything above 25. Loved it when it was 32.

 

[AlexRRR]

Mate nothing stays the same....you dont know your Buddhism do you? and why feel insecure? just do what feels right in the end its meant to be.

 

Look at it this way...if a world war was to break out and thats looking more likely day by day with  the way Australia number one ally is going about business i wouldn't t want to be in Thailand nor have a swag of money there....there history is to allow the other party to just walk in...

 

How do you feel now?

[watcharacters]

On 11/22/2017 at 5:51 PM, Aussieroaming said:

Yeah, as applies to me. After spending years paying well over a $100K/year in tax i have to re-qualify for a future pension. Given that I dont plan on returning to Aus for 2 years in order to do that I've scrapped any notion of ever receiving an Aussie pension in the future and am building my own pension plan.

 

 

Did I read that correctly?

 

YOU have,  for years,  paid OVER 100K a year in taxes

 

Quit a claim I must say..

[InMyShadow]

 
 
Did I read that correctly?
 
YOU have,  for years,  paid OVER 100K a year in taxes
 
Quit a claim I must say..

makes you wonder how will he qualify for a pension. that's basically 200k a year gross. unless he pissed it all up against the wall

[watcharacters]

53 minutes ago, InMyShadow said:

1 hour ago, watcharacters said:

 
 
Did I read that correctly?
 
YOU have,  for years,  paid OVER 100K a year in taxes
 
Quit a claim I must say..

makes you wonder how will he qualify for a pension. that's basically 200k a year gross. unless he pissed it all up against the wall

 

 

 

Could it be that this mate is pulling a porky? 

 

 

 

 

 

[watcharacters]

On 11/22/2017 at 6:00 PM, Aussieroaming said:

I work in a high income bracket.....more that $500k/year after tax

 

 

 

 

Mate,   I doubt 1% of the readers of this forum believe your  claim in light of what sounds like a bunch of alcohol fueled posts.

 

Nevertheless good luck to you.

 

 

[Aussieroaming]

10 hours ago, watcharacters said:

 

 

 

 

Mate,   I doubt 1% of the readers of this forum believe your  claim in light of what sounds like a bunch of alcohol fueled posts.

 

Nevertheless good luck to you.

 

 

And why would I lie about my income you numpty, that might be more your style.

 

See below a portion of my October payslip, note that its in $US and local currency, multiply x 12 and convert to AUD and tell me whether it exceeds the $500K quoted. Add annual leave accrual and its probable closer to $600K AUD. Note that I work off-shore and pay 10% tax hence my take home pay each month is the bottom figure.

 

When you have finished crunching the numbers, crawl back under your rock and go back to sleep

 

Type			Period		Amount
2. Deducted					USD	KZT
Income tax			Oct 17		4,091.40	1,368,655.13
Total deducted					4,091.40	1,368,655.13
Company Debt at the end of the month: (Exchange Rate: 334,52)					36,822.60	12,317,895.17

[BEVUP]

10 hours ago, watcharacters said:

 

 

 

Could it be that this mate is pulling a porky? 

 

 

 

 

 

This is possible (pending)' but to be on that sort of money it would be with a lot of benifits 

Superintendants are or were able to  achieve 300,000 + p/yr from International companies that built their plants in Auss

But now everyone has to go back to realisation & except the drop in hourly wages to Ausses

I just read the OP post & notice he is in a very close knit industry

I myself was on the land side of this as a skilled labourer $200,000 + but as Auss is heading into Depression those wages will be no where acheiveable 

+ OP is lucky only paying 10 % Tax (if he was paying Ausses correct tax he would lose maybe 40 - 50 % pending )

 

[Aussieroaming]

2 hours ago, BEVUP said:

This is possible (pending)' but to be on that sort of money it would be with a lot of benifits 

Superintendants are or were able to  achieve 300,000 + p/yr from International companies that built their plants in Auss

But now everyone has to go back to realisation & except the drop in hourly wages to Ausses

I just read the OP post & notice he is in a very close knit industry

I myself was on the land side of this as a skilled labourer $200,000 + but as Auss is heading into Depression those wages will be no where acheiveable 

+ OP is lucky only paying 10 % Tax (if he was paying Ausses correct tax he would lose maybe 40 - 50 % pending )

 

My rate isnt that high if you factor resposibility and location into the equation and yes 10% tax and being paid in $USD is why I dont work in Australia, nor do I reside there anymore. My manager earns over 3 times my rate, so I'm a long way from the top end of town.

[whiteman]

we are now into my wage is bigger than your wage so boring zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz 

[davidst01]

Today there's an article in the SMH reporting that an Inv Bank thinks the AUD might go to .90c next yr. Complete opposite from what was reported at the beginning of this thread

[BEVUP]

2 hours ago, davidst01 said:

Today there's an article in the SMH reporting that an Inv Bank thinks the AUD might go to .90c next yr. Complete opposite from what was reported at the beginning of this thread

Is that 90 c against the US

Your got to be kidding

With employment set to become an all time high (maybe not for Residents while their Citz are unemployed ), & house prices falling due to lack of work I don't see that

& the old story that perth is becoming much cheaper in all ways - The government are complete idiots as anyone can see why

There are about 6000 people to come of the last big construction jobs from now through to april 2018 ' whilst the ones that lost jobs before are competing with Resident holders (that can come in & do anything - not like asia ) 

That number will double with the rest of Ausses busineses configurating 

This year alone would be an easy 100,000 lost jobs 

[bazza73]

4 hours ago, davidst01 said:

Today there's an article in the SMH reporting that an Inv Bank thinks the AUD might go to .90c next yr. Complete opposite from what was reported at the beginning of this thread

I would be short-selling shares in that investment bank if I could. As Michael Caton once said " Tell them they're dreaming".