Bank accounts in Thailand know to Australian Tax Office?

[OzMan]

I have two bank accounts in Thailand with the same bank. Centrelink in Australia has asked for details of my overseas accounts. Does the Australian government receive details of bank accounts in Thailand held by its citizens overseas?

[Olmate]

3 minutes ago, OzMan said:

I have two bank accounts in Thailand with the same bank. Centrelink in Australia has asked for details of my overseas accounts. Does the Australian government receive details of bank accounts in Thailand held by its citizens overseas?

How would they know,did u volunteer the fact on tax return? On pension?

[Grumpy one]

5 minutes ago, OzMan said:

I have two bank accounts in Thailand with the same bank. Centrelink in Australia has asked for details of my overseas accounts. Does the Australian government receive details of bank accounts in Thailand held by its citizens overseas?

Not unless you tell them

If they insist on your bank details, open another account in a different bank and leave a 1000 baht in it, then show this account

It keeps them happy and no hassles for you

[BEVUP]

He may be transfering money into them from his Auss acount

So lets say they pick that up from his Auss statements (or could he say its a friends account )

[OzMan]

Thanks. I have two bank accounts, one for living expenses, the other to keep 800,000 baht permanently for my retirement visa. The living expenses one I told them about, not the 800,000 baht account.

 

[OzMan]

Found out today that Centrelink has cancelled my Medicare card since they believe I am no longer living in Australia. How long does it take to get a new Medicare card when I return?

[ozfarang]

57 minutes ago, OzMan said:

Found out today that Centrelink has cancelled my Medicare card since they believe I am no longer living in Australia. How long does it take to get a new Medicare card when I return?

After living overseas for 5 years your Medicare card will be cancelled and you need to re-enrol again when you return to Australia. 

You have to prove your residency back in Australia with documents from a list on Services Australia web site.

Go to this link for more info,

 

https://www.servicesaustralia.gov.au/individuals/subjects/how-enrol-and-get-started-medicare/enrolling-medicare/if-youre-australian-citizen

 

Hope this is of some help.

[OzMan]

Thanks. It helps. The web page says how to get a new Medicare card after living overseas for longer than 5 years. I have only been out of the country 20 months, I do not believe they should have taken it away.

 

[ozfarang]

21 minutes ago, OzMan said:

 I have only been out of the country 20 months, I do not believe they should have taken it away.

 

Prior to being out of the country for 20 months you were living in Australia?

Or make short visits to Australia over a period of 5 years or more?

Edited November 12, 2020 by ozfarang

[Olmate]

48 minutes ago, ozfarang said:

Prior to being out of the country for 20 months you were living in Australia?

Or make short visits to Australia over a period of 5 years or more?

And whats ops connection with Clink.Pension? 

[ozfarang]

What OzMan needs to do to get a medicare card issued is to prove he is living in Australia or to file an appeal to the AAT regarding the cancellation of his medicare card.

Edited November 12, 2020 by ozfarang

[Fat is a type of crazy]

Austrac has details of bank transfers to and from Australia. This is available to some staff.

They will have details of accounts if you have transferred funds to and from Australia. 

Edited November 12, 2020 by Fat is a type of crazy

[simple1]

1 hour ago, ozfarang said:

What OzMan needs to do to get a medicare card issued is to prove he is living in Australia or to file an appeal to the AAT regarding the cancellation of his medicare card.

 

Lot simpler to just reapply for medicare card upon return to OZ. Appeal could take months to process

[OzMan]

17 hours ago, ozfarang said:

Prior to being out of the country for 20 months you were living in Australia?

Or make short visits to Australia over a period of 5 years or more?

I lived permanently in Australia until January 2018, then moved to Bangkok. I told Centrelink I planned to return last April if COVID had not interupted flights.

[taxout]

Both Thailand and Australia are party to the Common Reporting Standard "CRS" and will at some point be exchanging bank account information on their residents. (Thailand's a bit slow implementing CRS.)

 

As Australia describes it:

 

"The Common Reporting Standard (CRS) is the single global standard for the collection, reporting and exchange of financial account information on foreign tax residents. Under it, banks and other financial institutions will collect and report to us financial account information on non-residents. We will exchange this information with the participating foreign tax authorities of those non-residents.

 

"In return, we will receive financial account information on Australian residents from other countries' tax authorities. This will help ensure that Australian residents with financial accounts in other countries are complying with Australian tax law and act as a deterrent to tax evasion."

 

https://www.ato.gov.au/General/International-tax-agreements/In-detail/Common-Reporting-Standard/