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Posted

Could use some helpful advice please.

Been around here based out of remote Issan for many years.

Worked away mostly and unfortuneately put all into land via my Thai wife to save for retirement.

Yeah yeah I know.

Surprise mostly gone!

I have about 500k in Aus in super and at nearly 70 was thinking of going home to Perth close to the grandkids etc.

My plan was to use the super to buy a simple unit in Perth and then get the old age pension to live.

I am told I must stay in Aust no break for 2 years but can get the pension straight away.

Worked in Aust paying tax till 97 but non resident since.

Inputs please

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Posted

Sounds as though you have sufficient funds to buy an apartment and car, with money to spare. Should you wish to return to Thailand or visit elsewhere overseas for a few weeks at a time during the two year period you can do so. Obviously the decision to return to Oz is yours alone, but if you have good friends / family who love you why not return. Plus of course as you get older you will not have to worry about medical costs. Note Australia is not cheap to live, prices nave gone up, but pensioner concession card reduces some costs e.g. energy bills, public transport and so on.

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Posted
49 minutes ago, GregBow said:

Could use some helpful advice please.

Been around here based out of remote Issan for many years.

Worked away mostly and unfortuneately put all into land via my Thai wife to save for retirement.

Yeah yeah I know.

Surprise mostly gone!

I have about 500k in Aus in super and at nearly 70 was thinking of going home to Perth close to the grandkids etc.

My plan was to use the super to buy a simple unit in Perth and then get the old age pension to live.

I am told I must stay in Aust no break for 2 years but can get the pension straight away.

Worked in Aust paying tax till 97 but non resident since.

Inputs please

400k for unit in Perth, 10-15k for a car, 80k stand by cash in high interest account like Ubank and full OAP... should work ok for you. You don't need to be tax resident to get a pension and seems that you lived long enough in Australia to qualify...just turn up at Centrelink and demand pension asap. You can set up camp pretty easily, probably would take you a week or two to get Medicare card and open bank accounts.

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Posted
1 hour ago, GregBow said:

Worked away mostly and unfortuneately put all into land via my Thai wife to save for retirement.

Yeah yeah I know.

Surprise mostly gone!

 

So, when you posted on Thaivisa 20 years ago that you want to retire in Isaan and buy a house did people tell you not to be a fool and did you say to them mine is different?

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Posted
21 minutes ago, gearbox said:

400k for unit in Perth, 10-15k for a car, 80k stand by cash in high interest account like Ubank and full OAP... should work ok for you. You don't need to be tax resident to get a pension and seems that you lived long enough in Australia to qualify...just turn up at Centrelink and demand pension asap. You can set up camp pretty easily, probably would take you a week or two to get Medicare card and open bank accounts.

Thank you all for advice.

I was born in Aus, Tassie boy but I think my hippie days like my issan days are best left behind ;)

I have an Aust bank account still I have been using to get the super paid monthly which will stop when I cash it out to buy a unit

Dont drive anymore, I admit my lack of competence.

One query, the 2 years I need to stay in Aust does that mean I cannot leave at all for that time? 

I did try use the centrelink site but it confused me.

Thanks again

 

Greg

 

Posted (edited)
1 hour ago, gearbox said:

400k for unit in Perth, 10-15k for a car, 80k stand by cash in high interest account like Ubank and full OAP... should work ok for you. You don't need to be tax resident to get a pension and seems that you lived long enough in Australia to qualify...just turn up at Centrelink and demand pension asap. You can set up camp pretty easily, probably would take you a week or two to get Medicare card and open bank accounts.

 

Are you sure this is a good idea?

 

In Canada, condo fees double (or triple) every 10 years. 

 

Here is a breakdown of all the feel I googled on a 400k condo. Interest rates won't stay high forever.

 

Strata $2650 per quarter including $1029 into reserve fund.
Council $1592 per annum
Water $1160 per annum

 

If Perth is anything like a major Canadian city, living downtown would negate any need for a car. I assume public transport is very good over there,

 

Edited by Celsius
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Posted
16 hours ago, GregBow said:

Thank you all for advice.

I was born in Aus, Tassie boy but I think my hippie days like my issan days are best left behind ;)

I have an Aust bank account still I have been using to get the super paid monthly which will stop when I cash it out to buy a unit

Dont drive anymore, I admit my lack of competence.

One query, the 2 years I need to stay in Aust does that mean I cannot leave at all for that time? 

I did try use the centrelink site but it confused me.

Thanks again

 

Greg

 

Leaving Australia will only affect your portability I think.

So if you're intending to stay in Australia you shouldn't have a problem in holidaying.

 

 

All the best mate.

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Posted
33 minutes ago, Will27 said:

Leaving Australia will only affect your portability I think.

So if you're intending to stay in Australia you shouldn't have a problem in holidaying.

 

 

All the best mate.

Thanks all.

Another thought is as I have family to stay with could I just leave the super where it is as an asset and not have a home?

Is there any agent or company in Aust you could recommend to show me the best options before I broach Centrelink again?

They are a little difficult to navigate through.

Thanks again

Posted (edited)
25 minutes ago, GregBow said:

Thanks all.

Another thought is as I have family to stay with could I just leave the super where it is as an asset and not have a home?

Is there any agent or company in Aust you could recommend to show me the best options before I broach Centrelink again?

They are a little difficult to navigate through.

Thanks again

could I just leave the super where it is as an asset and not have a home?

 

 

YES

 

https://www.servicesaustralia.gov.au/assets-test-for-age-pension?context=22526

 

 

Edited by Nemises
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Posted

Now I live in Perth as well just on my pension, you still can find cheap apartments I am renting since I lost everything in Thailand just don't rent a house, it will set you back just over 500.000 AUD to buy a decent 3-bedroom apartment. I am paying since 7 years just 240 AUD. The Australian pension is about 1200 AUD per fortnight. (for a single person including rent assistance and electricity assistance.) You get Medicare for free cheap medications discounted bus and train fares. I lost all my super when I moved to Thailand, so I live on my OAP. But I still can travel once or twice every year to Thailand. Never move to the Eastern States you could not live on your pension. Perth is the best city to live in. You are lucky you still have your super.

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Posted
17 hours ago, GammaGlobulin said:

Sorry to hear you lost your land in Thailand.

 

How can you lose land that you can never really own in Thailand? 

 

The purchase money just gets redistributed to Thai's, one way or another. 

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Posted
On 1/22/2024 at 5:19 AM, still kicking said:

Now I live in Perth as well just on my pension, you still can find cheap apartments I am renting since I lost everything in Thailand just don't rent a house, it will set you back just over 500.000 AUD to buy a decent 3-bedroom apartment. I am paying since 7 years just 240 AUD. The Australian pension is about 1200 AUD per fortnight. (for a single person including rent assistance and electricity assistance.) You get Medicare for free cheap medications discounted bus and train fares. I lost all my super when I moved to Thailand, so I live on my OAP. But I still can travel once or twice every year to Thailand. Never move to the Eastern States you could not live on your pension. Perth is the best city to live in. You are lucky you still have your super.

How did you lose everything in Thailand?

Omg you even lost your super?

I guess that's why your so bitter in here ? Understandable now 

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Posted
5 minutes ago, georgegeorgia said:

How did you lose everything in Thailand?

Omg you even lost your super?

I guess that's why your so bitter in here ? Understandable now 

I am not bitter at all I still have Thai family in Thailand been married to a Thai for 20 years and travel to Thailand ones or twice every year.

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Posted (edited)
4 minutes ago, still kicking said:

I am not bitter at all I still have Thai family in Thailand been married to a Thai for 20 years and travel to Thailand ones or twice every year.

I have nothing but empathy for you🩷 ,you worked hard all your life and lost all your savings and superannuation in Thailand somehow ,

now your back in Australia at nearly 80 forced to rent a house and wash dishes in a restaurant on a Saturday night .

 

Mate I would be bitter too , I hope it works out for you old-timer ,enjoy your trips although it's not the same as living there obviously,all the best 😉

Edited by georgegeorgia
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Posted
2 minutes ago, georgegeorgia said:

I have nothing but empathy for you🩷 ,you worked hard all your life and lost all your savings and superannuation in Thailand somehow ,

now your back in Australia at nearly 80 forced to rent a house and wash dishes in a restaurant on a Saturday night .

 

Mate I would be bitter too , I hope it works out for you old-timer 

You got it wrong

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Posted

I would go back to Perth to get the pension but don't buy an apartment with the super. After 2 years leave and go back to Thailand or another cheap/fun place to live. 

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Posted
6 minutes ago, Furioso said:

I would go back to Perth to get the pension but don't buy an apartment with the super. After 2 years leave and go back to Thailand or another cheap/fun place to live. 

I guess toy haven't read the whole story.

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Posted (edited)
On 1/27/2024 at 12:24 AM, still kicking said:

You got it wrong

Your old timer has this

 

IMG_20200706_0004.jpg

Edited by still kicking
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Posted

Still kicking if you own those how would you get the old age pension?

 

You can live in one that's ok your own house is not counted,so you don't declare the investment property's?

Posted (edited)
On 1/20/2024 at 4:16 PM, gearbox said:

400k for unit in Perth,

 

If Aus is anything like the USA, it's not the same place we left many years ago.

 

Not sure someone would want to tie up 80% of their assets in buying a home, especially given that he hasn't lived in Aus for many years.  He may want to spend a year or 3 getting the lay of the land before he ties himself so firmly to one location.  There's also a reasonable chance that he may decide he's better off back in Thailand, just not in the same situation. 

 

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Posted
14 hours ago, georgegeorgia said:

Still kicking if you own those how would you get the old age pension?

 

You can live in one that's ok your own house is not counted,so you don't declare the investment property's?

Don't mention any possible fraudulent activity, or tax evasion, someone might beg the Mods to have you banned for life.   :cheesy:

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