Australian Aged Pension

[Olmate]

8 hours ago, georgegeorgia said:

AWOL

In GG,s scenario. JAD  "just a dream"! 

[G_Money]

12 hours ago, Lacessit said:

IIRC you are not Australian. If you want to troll, do it somewhere else. This thread is for Australians only.

Yeah right!  Same as US political threads are for Americans only.

 

When you practice what you preach, so will I.

[Lacessit]

23 hours ago, gearbox said:

It is not entitlement, it is welfare. The motive to go away from the current system usually 99% is lack of money.

The age pension is both entitlement and welfare. Any Australian who meets the age and financial criteria is entitled to it.

 

The current situation is a self-inflicted wound. Before, during and after the GFC, hundreds of thousands of Australians lost their life savings to thieves, mainly due to the abject incompetence of ASIC. They were then forced to apply for part or full pensions to make up the shortfall.

 

I guess victim blaming is popular among people who don't like the concept of welfare for those less fortunate.

 

When Joe Hockey said the age of entitlement is over, he certainly was not talking about the tax breaks he was giving to the wealthy. Or himself, the fat turd.

 

BTW, what's your BMI?

[gearbox]

14 minutes ago, Lacessit said:

The age pension is both entitlement and welfare. Any Australian who meets the age and financial criteria is entitled to it.

 

The current situation is a self-inflicted wound. Before, during and after the GFC, hundreds of thousands of Australians lost their life savings to thieves, mainly due to the abject incompetence of ASIC. They were then forced to apply for part or full pensions to make up the shortfall.

 

I guess victim blaming is popular among people who don't like the concept of welfare for those less fortunate.

 

When Joe Hockey said the age of entitlement is over, he certainly was not talking about the tax breaks he was giving to the wealthy. Or himself, the fat turd.

 

BTW, what's your BMI?

My BMI is good enough.... thanks for worrying. I travel mainly as a long distance bikepacker or kayaker, that has put me on top of the cardiovascular health for my age.

[Lacessit]

7 minutes ago, gearbox said:

My BMI is good enough.... thanks for worrying. I travel mainly as a long distance bikepacker or kayaker, that has put me on top of the cardiovascular health for my age.

Your in good physical shape, then. Perhaps I should worry more about your mental health.

[KhunHeineken]

On 1/5/2025 at 7:49 PM, georgegeorgia said:

I just had a look at all the posters in this thread many haven't logged on for years?

Can you give an example?

 

Seems like the usual suspects to me.

[KhunHeineken]

On 1/6/2025 at 1:14 AM, gearbox said:

In most of the countries of the world the pension is not based on lifestyle, it is based on age, number of years worked, and the size of pension contributions. Sooner or later the Aussie OAP will be retrofitted in this way.

There will be no Aussie aged pension in the future for people who have worked throughout their life.

 

Their super will push them over any means testing, so no pension for them. 

 

Same old, same old.  The workers paying for those who can, but don't work, ever.  

[KhunHeineken]

On 1/6/2025 at 2:27 AM, gearbox said:

It is not entitlement, it is welfare. The motive to go away from the current system usually 99% is lack of money.

One is "entitled" to apply for it based on age.  Whether they are approved to receive it, or part of it, is a different story. 

[georgegeorgia]

5 hours ago, KhunHeineken said:

Can you give an example?

 

Seems like the usual suspects to me.

Ummmm.....the OP?

[KhunHeineken]

On 1/10/2025 at 5:12 PM, georgegeorgia said:

Ummmm.....the OP?

Voiceover from 2008????

[rhodie]

A mate that is doing the 2 years to make his pension portable got the document below when he asked them for proof in writing that he can leave for a holiday overseas during the 2 years.

 

[rhodie]

I found this on FB. Reason for post here, even though it is about Thai Tax, is it refers to Australian Super and I am sure Australian Pension will be treated the same. Note that the TRD told him he doesn't need to file a return because his income is from Super which is great. I know things can change and different offices have different views but this is a factual positive.

 

At this stage it looks like Aussie pensioners will not need to file a tax return in TH.

[KhunHeineken]

1 hour ago, rhodie said:

I found this on FB. Reason for post here, even though it is about Thai Tax, is it refers to Australian Super and I am sure Australian Pension will be treated the same. Note that the TRD told him he doesn't need to file a return because his income is from Super which is great. I know things can change and different offices have different views but this is a factual positive.

 

At this stage it looks like Aussie pensioners will not need to file a tax return in TH.

There's a few recent youtube videos from law and accounting firms in the other threads about this.  They have qualified Thai tax experts saying otherwise.

 

Who should we believe, a low ranked TRD staff member, or the various Thai tax experts? 

 

If it all turned pear shaped, do you think the TRD staff member would admit to giving the incorrect advice? 

 

If the same guy went to a different province and asked someone in the TRD there the same questions, and got different answers, which version would / should he accept? 

 

 

[LosLobo]

1 hour ago, rhodie said:

I found this on FB. Reason for post here, even though it is about Thai Tax, is it refers to Australian Super and I am sure Australian Pension will be treated the same. Note that the TRD told him he doesn't need to file a return because his income is from Super which is great. I know things can change and different offices have different views but this is a factual positive.

 

At this stage it looks like Aussie pensioners will not need to file a tax return in TH.

Most retired Australians don’t receive a government superannuation pension; that benefit is typically limited to former government public servants. Instead, most retirees are likely to rely on the Aged Pension and/or their own private superannuation, allocated pensions, or annuities.
 

As a result, Article 19 of the Double Tax Agreement (DTA) may not be applicable; it’s more likely that Article 20 would apply in these cases.
 

To play devil's advocate here, it’s possible that the Aged Pension could be subject to taxation. With respect to private superannuation payments, I would suggest that only the income or gains earned in 2024, rather than the original capital or gains accrued up to 2023, would be taxable.

[KhunHeineken]

20 minutes ago, LosLobo said:

To play devil's advocate here, it’s possible that the Aged Pension could be subject to taxation.

The aged pension is not covered by the DTA.  The aged pension is assessable in Thailand.  If all of the aged pension is remitted to Thailand, it goes over the threshold. 

 

Whilst the tax liability on an aged pension in Thailand would not be too much, it's more than what has had to be paid before, which was zero.