The wrong reasons to retire to Thailand?

[ChakaKhan]

18 hours ago, BTB1977 said:

If he doesn't have a life back home , why would he have one here. Does he become more interesting once he gets off the plane? 

Try asking the Airport taxi drivers......Hey....HEY! Heeeeey!!!!!!!!! you...YOU..HEY YOU!!!! where you go???!!!! okok!

[4MyEgo]

2 hours ago, Saltire said:

but one bit of advice would for sure to not sell his property too hastily.

Good replies, however Australian taxation laws and UK tax laws are different, e.g. if he hung onto his property and lived here full time, e.g. over 183 days a year, his residency status would change and he would pay tax as a non-resident, e.g. 32.5c in every $ earned from his property, then the big killer, capital gains tax when he sells at the highest tax rate, which I believe is in the 40 plus % bracket, and while holding that property, he would be paying all the associated costs, like council, water rates, insurances, repairs, agents commission and weeks rent reletting fee, advertising etc etc and that doesn't take into consideration any vacancy factors.

 

As I mentioned in my post above, he might want to do 6 months here, and 6 months in Oz to get a feel, retain his residency status, rent a couple of rooms out for cash, keep Medicare and not pay any tax on rent as it's cash, and no capital gains tax when he sells up.

 

Maybe later in life if property values increase, he might have a little more capital behind him, maybe then he might be sick on Thailand, but as you said, he should not sell his property hastily, but if he is going to live her, he MUST to avoid all the taxes.

 

You guys in the UK are on a good wicket so far, hope things don't change soon.

[AgMech Cowboy]

I'm sad for him. How can he not have friends after living and working in Australia all his life. Advise him to stay in Australia and to take up golf. Start by taking lessons at a driving range. Tell him to just go there, meet the 'Pro' and discuss with the Pro how to get started. The other great thing to do to make good friends is to go to Church. He'll be surprised at the warmth and the people will become like family. I'm sure there's a good Baptist, Methodist or nondenominational church where he lives.  All he will have in Thailand is a 'chance' at finding a good partner and even fewer chances to make good new friends.

 

Oh, and yeah, he'll get tired of the boom boom.

[AgMech Cowboy]

I sure hope you'll pass on all 11 pages of comments. ????

[jomtienisgood]

On 5/19/2020 at 10:07 AM, CharlieH said:

Everyone needs someone(mostly). He stands a much better chance of finding someone to care about and who will care for him here than there.

Assuming he rents or chooses wisely or he'll learn a hard expensive lesson.

 

Its better than being cold and lonely.(mostly) ????????

 

 

I agree but the saying remains: better alone than with bad company....

[cranki]

17 hours ago, newnative said:

So, then he's 60 and broke.  Hope he does a little more planning than that.  

No, then he's 60 and able to access his Superannuation, if he's been working most of his life, this should be a healthy little nest egg.

[Lacessit]

3 hours ago, cranki said:

No, then he's 60 and able to access his Superannuation, if he's been working most of his life, this should be a healthy little nest egg.

What superannuation? The OP does not say whether he has any, or whether it is included in his $500,000 of assets.

If he has sufficient superannuation ( $578,000, homeowner ) he will not be getting one cent of age pension.

The OP does say he would be waiting until age 67.

[Lacessit]

3 hours ago, Nemises said:

 

I think this is a misconception. As I understand it, as long as he returns to Australia prior to applying and becoming eligible for the OAP, and has 35 years residency in Australia, there is no requirement to live in Australia for two years. The ones who get caught by this rule are those who are not in Australia when they become eligible. - Lacessit

 

 

 

G'day Lacessit, I know a TV member who is in Aus now doing his 2 years "home detention" before returning to Thailand immediately after completing the required 2 years needed for returning expats wanting to obtain OAP portability.

 

Do some more research. If you still think it is a misconception, let me know, so I can advise him the results of your research. I'll then post his comments of your advice.

 

 

 

Sorry, I don't do research for other people's benefit unless I am paid to do so. My hourly rate was quite steep when I was getting paid.

All I can tell you is I know a guy who went back to Australia two weeks after he became eligible for the OAP, and was told he had to stay in Australia for two years to get it. He was also told he should have come back before he became eligible, then two years would not have applied. AFAIK he's still crying into his beer.

I made damn sure I was in Australia when I claimed a part pension, and two years' servitude was never mentioned.

[Odysseus123]

13 minutes ago, Lacessit said:

What superannuation? The OP does not say whether he has any, or whether it is included in his $500,000 of assets.

If he has sufficient superannuation ( $578,000, homeowner ) he will not be getting one cent of age pension.

The OP does say he would be waiting until age 67.

He will have died of depression if he continued to read this thread....????

Edited May 20, 2020 by Odysseus123

[BritManToo]

1 minute ago, Lacessit said:

All I can tell you is I know a guy who went back to Australia two weeks after he became eligible for the OAP, and was told he had to stay in Australia for two years to get it. He was also told he should have come back before he became eligible,

According to Aussie pals, it depends who you speak with.

The main office is quite harsh, but you can get wiggle room if you ask the smaller offices.

(Just repeating what he said)

Edited May 20, 2020 by BritManToo

[Lacessit]

Just now, BritManToo said:

According to Aussie pals, it depends who you speak with.

The main office is quite harsh, but you get wiggle room if you ask the smaller offices.

(Just repeating what he said)

 

1 minute ago, BritManToo said:

According to Aussie pals, it depends who you speak with.

The main office is quite harsh, but you get wiggle room if you ask the smaller offices.

(Just repeating what he said)

It depends on who you get in the smaller offices too. There was a Sikh working for Centrelink who was very laidback. On the other hand, Karen was the fat bitch from hell who obviously delighted in putting people on the rack. I refused to be toasted.

Unbiased advice can be obtained by making an appointment with a Financial Services Officer. That's their job, and they are pretty good at it.

[n00dle]

The wrong reason to retire to thailand? 

 

The notion that you will meet a docile, subservient, obedient, woman half your age who is willing to dedicate their life to your happiness and well-being on a limited budget just because you are here.

Edited May 20, 2020 by n00dle

[Nemises]

5 minutes ago, Lacessit said:

I made damn sure I was in Australia when I claimed a part pension, and two years' servitude was never mentioned.

 

Maybe not when you made your claim, but it is now.

 

Lots of mentions of the two years' servitude here...

 

 

 

 

 

 

 

 

 

[Lacessit]

3 hours ago, Nemises said:

 

Maybe not when you made your claim, but it is now.

 

Lots of mentions of the two years' servitude here...

 

 

That thread and his woes started in January 2008. I applied for the part pension in May 2008, so the two events are reasonably contemporaneous.

I did do my research quite carefully beforehand, and as I said in another post, the OP's friend should consult a Centrelink Financial Services Officer. Nothing to say, however, that the goal posts won't be moved in the next ten years.

 

 

 

 

 

 

 

[Lacessit]

3 hours ago, n00dle said:

The wrong reason to retire to thailand? 

 

The notion that you will meet a docile, subservient, obedient, woman half your age who is willing to dedicate their life to your happiness and well-being on a limited budget just because you are here.

Well, my GF is not half my age, just 24 years younger. Certainly not docile or subservient, can be a real spitfire. On the other hand, a sulk only lasts an hour maximum. She has no problem at all dedicating her life to my happiness and wellbeing, because then the ATM remains open.

I'd say as she is praying to Buddha every night for a long life for me, she's reasonably sincere.

I retired to Thailand because of the low cost of living, which included women. IMO she's been worth every baht I have given her. Can't say that about the wife and defacto I had in Australia.

[Nemises]

5 minutes ago, Lacessit said:

 

Yes, agree...always contact Centrelink direct for most up-to-date advice. 
 

Yes, that thread started back in 2008, however if the OP scrolls forward to the latest posts he will quickly see for himself that 2 years homestay is required by nearly everyone of the ‘000s who have contributed to the thread. 

[Lacessit]

1 hour ago, Nemises said:

Yes, agree...always contact Centrelink direct for most up-to-date advice. 
 

Yes, that thread started back in 2008, however if the OP scrolls forward to the latest posts he will quickly see for himself that 2 years homestay is required by nearly everyone of the ‘000s who have contributed to the thread. 

So you're saying to get the age pension, you have to be living in Australia for the two years prior to qualifying? Not a single holiday overseas? When did this particular bit of bastardry happen? Let me guess, Abbott's 2014 budget.

[Hanuman2547]

Not being an OZ citizen I'm not up on all the particulars of how your taxes work or qualifications for a State pension.  Like most on here, I do believe that the OP should take caution about selling up and making the move to Thailand.  I would suggest holding on to the property and, assuming that it is paid off and he owns it 100%, either rent it out himself or use a property manage company to rent it out.  Not sure where the property is located but hopefully that would be enough to finance his stay in Thailand.  

[rhodie]

1 hour ago, Lacessit said:

So you're saying to get the age pension, you have to be living in Australia for the two years prior to qualifying? Not a single holiday overseas? When did this particular bit of bastardry happen? Let me guess, Abbott's 2014 budget.

You need to be in Australia to apply for the pension when you become eligible. If you have been in Australia for 2 years before you apply, your pension is portable immediately. If however you have been living away from Australia, you can return and apply. You will need to spend 2 years in Australia before your pension becomes portable. This has been applicable for quite some time. At least 8 years.

[rhodie]

23 hours ago, Tropposurfer said:

Pension kicks in at 65

At this stage pension for him will kick in at 67, but I suspect that by the time he reaches 67 (2036 or so) it will probably have been extended to at least 70.

[frantick]

Whatever your friend decides, the first thing he should do is get a vasectomy. Nothing derails ones plans more than having unplanned children; especially at 50+.

 

(Not that children are bad, I have 2 great adult kids of my own.)

 

 

[bwpage3]

If he is lonely in his own country where they all speak the same language, image being in a country where he won't understand a thing? Can't read a thing? Etc. 

[coastguard]

For what it is worth

I heeded the siren call of a young lady and child and sold up. It didn't work out, Surprise, surprise! But i didn't lose all my money, and after a long parade of ladies, I settled in with a keeper. The first girl gave me this advice. I love you, but if you lose your money, I am gone, because I need to support my family, She said she wouldn't stay with a man she didn't have feeling for....but she had to be practical as well. Get real guys, this is reality. They DO care for us, but they have families to think of too.

My message, I found a girl 25 years younger that loves me, but conditionally. I need to take care of her and her family. It is the Asian way. I accept that. There is no such thing as unconditional love (except your mum). I am happy this way. The wild sex period of my life is over and I am glad to be free of that. There is affection and love and caring and family that matter so much more. So, good luck, find the right lady, and have some faith. 

[BritManToo]

16 minutes ago, bwpage3 said:

If he is lonely in his own country where they all speak the same language, image being in a country where he won't understand a thing? Can't read a thing? Etc. 

I read and write English on the internet all day.

My misses and 2 kids speak perfect English.

 

Imagine being in a country where everyone speaks English but no woman will talk to you, let alone have kids with you.

[DaRoadrunner]

1 hour ago, BritManToo said:

Imagine being in a country where everyone speaks English but no woman will talk to you, let alone have kids with you.

If that woman is English, with the attitude problem they have, I'd be very happy if she did not talk to me!

 

The western woman is a great example of a good reason to retire in Thailand.

Edited May 20, 2020 by DaRoadrunner

[Odysseus123]

The reality of it all is that the bloke the OP talks about is only 50 so he's got 17 years to wait for the old age pension...

...and as another poster has so astutely observed-anything can happen to the rules over such a lengthy period of time.

Edited May 20, 2020 by Odysseus123

[Martyp]

8 hours ago, coastguard said:

For what it is worth

I heeded the siren call of a young lady and child and sold up. It didn't work out, Surprise, surprise! But i didn't lose all my money, and after a long parade of ladies, I settled in with a keeper. The first girl gave me this advice. I love you, but if you lose your money, I am gone, because I need to support my family, She said she wouldn't stay with a man she didn't have feeling for....but she had to be practical as well. Get real guys, this is reality. They DO care for us, but they have families to think of too.

My message, I found a girl 25 years younger that loves me, but conditionally. I need to take care of her and her family. It is the Asian way. I accept that. There is no such thing as unconditional love (except your mum). I am happy this way. The wild sex period of my life is over and I am glad to be free of that. There is affection and love and caring and family that matter so much more. So, good luck, find the right lady, and have some faith. 

Everything you said plus, don’t think for a second that your marriage and relationships in the west don’t have a strong dependency on your financial stability. At least many Thai women are up front about the importance of money.

[Kadilo]

10 hours ago, bwpage3 said:

If he is lonely in his own country where they all speak the same language, image being in a country where he won't understand a thing? Can't read a thing? Etc. 

It’s a blessing.