Australian Aged Pension

[Olmate]

1 hour ago, Olmate said:

Err😂yep, bit blurry that,! See if I.can  improve the shot.

See.next posting KH, from Los Lobo, cheers

[KhunHeineken]

On 2/26/2025 at 2:36 AM, Olmate said:

See.next posting KH, from Los Lobo, cheers

"If you own a home in Australia and you are away from it for more than 12 months or leave it permanently, it will be treated as an asset."

 

"If you rent out your home in Australia or buy a home in another country, your payment may be affected."

 

Doesn't look good, Olmate. 

 

Buy a home (condo in Thailand) in another country, your payment may be affected.

 

Surely Albo can change this. 

 

[KhunHeineken]

14 hours ago, Olmate said:

Pigs 'may' fly KH.  Albo is busy right now helping Trump write his next welcome back to the USA speech for ZalenskiI!! 

But what about all the Aussie pensioners that have bought a property in Thailand and "their payment may be affected." 

 

Why would their payment be affected, Olmate?  

 

Could it be because they are non residents of Australia for tax purposes?  Surely not, Olmate, because a member posted on this forum some time ago that such laws were "only for guys like Paul Hogan." 

[Olmate]

9 hours ago, KhunHeineken said:

But what about all the Aussie pensioners that have bought a property in Thailand and "their payment may be affected." 

 

Why would their payment be affected, Olmate?  

 

Could it be because they are non residents of Australia for tax purposes?  Surely not, Olmate, because a member posted on this forum some time ago that such laws were "only for guys like Paul Hogan." 

Long bow, straw clutching, hole digging, can kicking KH, still shooting behinds, not goals.!.. 'SFA' nouse on the ALP has left you bereft of an ounce of cred! Not long to wait now tho, off to the Oz Embassy lad, get registered, show us what a hypocrit looks like! lol.

[Will27]

5 minutes ago, Lacessit said:

What about them? How is Centrelink going to know if a pensioner owns a condo in Thailand, unless the pensioner tells them him/herself?

 

You think the Thai authorities have a hotline to Centrelink, telling them every time a pensioner buys property?

 

Get back in your hen coop, Chicken Little.

 

 

I don't bother with him anymore, it's pointless.

 

He once said that Immigration is going to send the movements of every person in and out Australia to the ATO. 

[KhunHeineken]

On 3/5/2025 at 12:16 AM, Lacessit said:

How is Centrelink going to know if a pensioner owns a condo in Thailand, unless the pensioner tells them him/herself?

Are you suggesting people make a false declaration to Centerlink on their application for a pension? 

 

On 3/5/2025 at 12:16 AM, Lacessit said:

You think the Thai authorities have a hotline to Centrelink, telling them every time a pensioner buys property?

 

Nothing to do with Thai authorities.  Immigration know you have been outside of Australia for 183 days, therefore, a non resident for tax purposed, thus 30% reduction in pension. 

 

 

[KhunHeineken]

On 3/5/2025 at 12:23 AM, Will27 said:

He once said that Immigration is going to send the movements of every person in and out Australia to the ATO. 

The ATO already know this.  Been going on for decades.  Ever heard of a guy called "Paul Hogan?" 

[KhunHeineken]

On 3/4/2025 at 11:57 PM, Olmate said:

Long bow, straw clutching, hole digging, can kicking KH, still shooting behinds, not goals.!.. 'SFA' nouse on the ALP has left you bereft of an ounce of cred! Not long to wait now tho, off to the Oz Embassy lad, get registered, show us what a hypocrit looks like! lol.

Yeah, I'm sure you will be voting at the Embassy. 

 

My prediction is a a big swing away from the two major parties, possibly a hung parliament.  Either way, Albo is in trouble. 

[Lacessit]

33 minutes ago, KhunHeineken said:

Are you suggesting people make a false declaration to Centerlink on their application for a pension? 

 

Nothing to do with Thai authorities.  Immigration know you have been outside of Australia for 183 days, therefore, a non resident for tax purposed, thus 30% reduction in pension. 

 

 

I am suggesting people who have got their pension, and subsequently buy property in Thailand, won't necessarily report the purchase to Centrelink.

 

Centrelink won't know, the Thai authorities won't be telling them.

 

As I have not had 30% of my pension go missing, I can only assume you are spouting the same tired old BS which has been discredited multiple times.

 

Cash is king for a reason. Who do you know that is dumb enough to report any cash they are holding to Centrelink?

 

Now go away and work yourself into a proper tizz.

[metisdead]

Posts and replies with personal insults have been removed:

• Be polite and respectful to other users.
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[Olmate]

11 hours ago, KhunHeineken said:

Yeah, I'm sure you will be voting at the Embassy. 

 

My prediction is a a big swing away from the two major parties, possibly a hung parliament.  Either way, Albo is in trouble. 

"Whats its all about, Alfie"?? 😭

[KhunHeineken]

10 hours ago, Olmate said:

"Whats its all about, Alfie"?? 😭

He used "The Voice" as a distraction for the economy going down the toilet.  He's is bound by law to declare an election, so using Alfie as a another distraction isn't going to work. 

[KhunHeineken]

21 hours ago, Lacessit said:

I am suggesting people who have got their pension, and subsequently buy property in Thailand, won't necessarily report the purchase to Centrelink.

That would be illegal. 

 

https://www.servicesaustralia.gov.au/how-to-manage-your-age-pension-payment?context=22526#:~:text=You must tell us within,employment%2C regardless of the amount.

 

"There are a few things you need to tell us so we can pay you the right amount of Age Pension. You must tell us within 14 days if:

your circumstances change, including changes to your income and assets"

 

https://www.servicesaustralia.gov.au/change-circumstances-when-you-get-age-pension?context=22526

 

Read the bottom bullet point and the bottom line.   

What to tell us

You must tell us if any of the following happens:

• you change or correct your name
• your address changes
• you sell your principal home
• your income or assets change
• your partner’s income or assets change
• you stop living with your partner
• you marry or start living with your partner
• your partner dies
• you’re leaving the country temporarily or to live somewhere else.

You have 14 days to tell us about the changes. If you don’t do this, we may pay you too much and you may have to pay the money back.

If you deliberately don’t tell us about changes, we could charge you with fraud.

 

 

 

[KhunHeineken]

21 hours ago, Lacessit said:

Centrelink won't know, the Thai authorities won't be telling them.

You have a duty to disclose. 

 

See the links in the post above. 

 

21 hours ago, Lacessit said:

As I have not had 30% of my pension go missing, I can only assume you are spouting the same tired old BS which has been discredited multiple times.

The proposed changes to tax residency have not been passed yet. 

 

21 hours ago, Lacessit said:

Cash is king for a reason. Who do you know that is dumb enough to report any cash they are holding to Centrelink?

How do they get it to Thailand? 

 

Sure, they can take out $9,999 dollars each time they return and leave Australia, but where would they keep it? 

 

21 hours ago, Lacessit said:

Now go away and work yourself into a proper tizz.

You are suggesting to members to defraud Centerlink which is not only poor advice, but against forum rules.  

 

 

[Lacessit]

2 minutes ago, KhunHeineken said:

That would be illegal. 

 

https://www.servicesaustralia.gov.au/how-to-manage-your-age-pension-payment?context=22526#:~:text=You must tell us within,employment%2C regardless of the amount.

 

"There are a few things you need to tell us so we can pay you the right amount of Age Pension. You must tell us within 14 days if:

your circumstances change, including changes to your income and assets"

 

https://www.servicesaustralia.gov.au/change-circumstances-when-you-get-age-pension?context=22526

 

Read the bottom bullet point and the bottom line.   

What to tell us

You must tell us if any of the following happens:

• you change or correct your name
• your address changes
• you sell your principal home
• your income or assets change
• your partner’s income or assets change
• you stop living with your partner
• you marry or start living with your partner
• your partner dies
• you’re leaving the country temporarily or to live somewhere else.

You have 14 days to tell us about the changes. If you don’t do this, we may pay you too much and you may have to pay the money back.

If you deliberately don’t tell us about changes, we could charge you with fraud.

 

 

 

I have not updated my asset details with Centrelink for about 5 years.

 

While I trade in and out of stocks and precious metals, my asset balance does not change. I spend pension income and investment income as I get it.

 

If Centrelink really cared, I am sure I would have been contacted by now.

[Artisi]

2 minutes ago, Lacessit said:

I have not updated my asset details with Centrelink for about 5 years.

 

While I trade in and out of stocks and precious metals, my asset balance does not change. I spend pension income and investment income as I get it.

 

If Centrelink really cared, I am sure I would have been contacted by now.

Yes, they seem to be a bit hit and miss on seeking updates - I've only been asked once in many years. 

[Lacessit]

11 minutes ago, KhunHeineken said:

You have a duty to disclose. 

 

See the links in the post above. 

 

The proposed changes to tax residency have not been passed yet. 

 

How do they get it to Thailand? 

 

Sure, they can take out $9,999 dollars each time they return and leave Australia, but where would they keep it? 

 

You are suggesting to members to defraud Centerlink which is not only poor advice, but against forum rules.  

 

 

Ever heard of a money belt? I have flown cash (AUD) to Thailand multiple times. It gets exchanged at a better rate than via interbank transfer.

 

I am not suggesting anything. I am saying Centrelink has no way of knowing whether any person on a pension has purchased property in Thailand, unless that person tells them.

[KhunHeineken]

34 minutes ago, Lacessit said:

I have not updated my asset details with Centrelink for about 5 years.

 

While I trade in and out of stocks and precious metals, my asset balance does not change. I spend pension income and investment income as I get it.

 

If Centrelink really cared, I am sure I would have been contacted by now.

 

https://www.expattaxes.com.au/fifo-worker-with-a-foreign-bank-account-ato-know-about-it/#:~:text=This is done via the,office automatically every single year.

 

"Important to note is that the exchange of your information is NOT dependent on a specific request from the ATO. Instead the foreign financial institution is required to exchange that information with the ATO automatically.

 

This is done via the AEOI (the Automatic Exchange of Information) so that your foreign bank and financial account information is sent to the Australian Taxation office automatically every single year."

 

They already know. 

 

[KhunHeineken]

15 minutes ago, Lacessit said:

Ever heard of a money belt? I have flown cash (AUD) to Thailand multiple times. It gets exchanged at a better rate than via interbank transfer.

How you carry is irrelevant.  It's the amount that is relevant.  Did you take out more than $10,000AUD?  If so, did you declare it, and if you did, AUSTRAC knows about it, and if you didn't, you broke the law.

 

I have posted that there is a duty of disclosure.  You are suggesting that pensioners can buy a property in Thailand and not disclose such.  I even posted the links for you.  

 

In any case, how do the pensioners with "cash" get the cash out of Australia, without doing several "cash runs" or breaking the law?   

 

 

 

 

 

[KhunHeineken]

38 minutes ago, Artisi said:

I've only been asked once in many years. 

Did you declare truthfully?

[Lacessit]

8 minutes ago, KhunHeineken said:

Did you declare truthfully?

Ever thought of minding your own business?

[giddyup]

49 minutes ago, Artisi said:

Yes, they seem to be a bit hit and miss on seeking updates - I've only been asked once in many years. 

I have never been asked to update in 15 years here.

[Nemises]

34 minutes ago, KhunHeineken said:

In any case, how do the pensioners with "cash" get the cash out of Australia, without doing several "cash runs" or breaking the law?   

Easy. Transfer it overseas 5 years BEFORE obtaining the OAP …and try hard to remember to declare that cash on the OAP application 5 years later. 

[KhunHeineken]

1 hour ago, Nemises said:

Easy. Transfer it overseas 5 years BEFORE obtaining the OAP …and try hard to remember to declare that cash on the OAP application 5 years later. 

You have to declare all assets, cash, and income, within Australia, and offshore. 

 

Did you not see the link?  Here it is again. 

 

https://www.expattaxes.com.au/fifo-worker-with-a-foreign-bank-account-ato-know-about-it/#:~:text=This is done via the,office automatically every single year.

 

"Important to note is that the exchange of your information is NOT dependent on a specific request from the ATO. Instead the foreign financial institution is required to exchange that information with the ATO automatically.

This is done via the AEOI (the Automatic Exchange of Information) so that your foreign bank and financial account information is sent to the Australian Taxation office automatically every single year."

 

 

[KhunHeineken]

2 hours ago, giddyup said:

I have never been asked to update in 15 years here.

You are due then. 

[KhunHeineken]

2 hours ago, Lacessit said:

Ever thought of minding your own business?

You are the one suggesting to members to break the law.  Poor advice. 

 

What guarantee can you give them they will never face any consequences? 

[Lacessit]

25 minutes ago, KhunHeineken said:

You are due then. 

Every day, Centrelink is fielding phone calls from people who have lost their jobs, have split up, are on Newstart etc. The average wait time is two hours for OAP's, 5-6 hours for others.

 

You can't get into a Centrelink office without making an appointment, which has to be done either with a phone, or a double visit. Walk-ins are not welcome.

 

I know it is your sick fantasy Centrelink will come after us all, which is even more sick because you are not on the OAP yourself. You need help.

 

Truth is, Centrelink has more than enough on its plate with people still in the workforce, or trying to be.

 

The evidence from three posters here is Centrelink couldn't care less whether or not we update our assets. Can you find anyone who has been prosecuted by Centrelink for failing to update?

 

Logic says people with assets are going to have them declining, as they supplement their part pension by drawing on capital. Why would Centrelink chase people, only to give them more money?

[Lacessit]

38 minutes ago, KhunHeineken said:

You have to declare all assets, cash, and income, within Australia, and offshore. 

 

Did you not see the link?  Here it is again. 

 

https://www.expattaxes.com.au/fifo-worker-with-a-foreign-bank-account-ato-know-about-it/#:~:text=This is done via the,office automatically every single year.

 

"Important to note is that the exchange of your information is NOT dependent on a specific request from the ATO. Instead the foreign financial institution is required to exchange that information with the ATO automatically.

This is done via the AEOI (the Automatic Exchange of Information) so that your foreign bank and financial account information is sent to the Australian Taxation office automatically every single year."

 

 

Wrong. Show me the field in the Centrelink assets listing that specifies cash as an asset.

[KhunHeineken]

1 hour ago, Lacessit said:

Every day, Centrelink is fielding phone calls from people who have lost their jobs, have split up, are on Newstart etc. The average wait time is two hours for OAP's, 5-6 hours for others.

 

You can't get into a Centrelink office without making an appointment, which has to be done either with a phone, or a double visit. Walk-ins are not welcome.

If you are living in Thailand, how do you know this?

 

Link please?

 

1 hour ago, Lacessit said:

I know it is your sick fantasy Centrelink will come after us all,

They don't have to come after anyone. 

 

You will be outside of Australia for more than 183 days, therefore will be a non resident for tax purposes, the tax bracket for non residents is 30% from $0 to $135,000, the pension is deemed an income, and the pension is taxable, and there are no exemptions or new tax free thresholds. 

 

You have never addressed the above.  You just continue to shoot the messenger. 

 

1 hour ago, Lacessit said:

Truth is, Centrelink has more than enough on its plate with people still in the workforce, or trying to be.

Link please.

 

It's the ATO that will inform Centerlink what Australians are non residents for tax purposes after 183 days. 

 

1 hour ago, Lacessit said:

The evidence from three posters here is Centrelink couldn't care less whether or not we update our assets. Can you find anyone who has been prosecuted by Centrelink for failing to update?

Once again, you are suggesting to members to break the law.  It's against forum rules, but more than that, it's very poor advice. 

 

Here's an example.  He did "the right thing" and look what happened to him.  You are suggesting members should do "the wrong thing." 

 

https://9now.nine.com.au/a-current-affair/lotto-numbers-pensioner-centrelink-winnings/5906339b-634e-486d-b8a3-517e1431c8d6

 

1 hour ago, Lacessit said:

Logic says people with assets are going to have them declining, as they supplement their part pension by drawing on capital. Why would Centrelink chase people, only to give them more money?

Aren't we talking about pensioners, not part pensioners?

 

Part pensioners are going to be screwed.  Simple as that.  That income that only sees them qualify for a part pension is up for 30% non resident tax.  No way out of it. 

 

You keep banging on about "chasing."  There is no chasing.  You are outside of Australia for 183 days and WILL BE deemed a non resident for tax purposes.  

 

It amazes me how many accept that being in Thailand for more than 180 days means you will be a tax resident of Thailand, yet, CAN NOT accept the day where Australia adopts a physical presence and time based model also, and being outside of Australia for 183 days means you WILL BE a non resident of Australia for tax purposes.     

[KhunHeineken]

1 hour ago, Lacessit said:

Wrong. Show me the field in the Centrelink assets listing that specifies cash as an asset.

You really have no idea. 

 

See "cash at hand - inside or outside Australia." 

 

I don't report posts, but NO ONE should listen to ANY of your advice.  You are suggesting to them to break the law. 

 

https://www.servicesaustralia.gov.au/asset-types?context=22526

 

Financial investments

Tell us about any financial investments you and your partner own, or partially own, in and outside Australia. Financial investments include any of these:

• bank, building society and credit union accounts
• cash on hand
• deeming accounts
• term deposit accounts
• uncleared cheques
• managed investments, including margin loans
• shares and securities.

They also include any of these:

• superannuation investments if you are over Age Pension age
• annuities and income streams
• money loaned
• money held in solicitor trust accounts
• bonds and debentures
• gold, silver or platinum bullion
• gifting
• Home Equity Access Scheme advance payments.

Read more about financial investments and what’s included in the test.