Australian Aged Pension

[Nemises]

Just now, giddyup said:

Can you open a TransferWise account online?

Yes mate, very easily and quickly but you need an AU address and photo ID. 

[giddyup]

Just now, Nemises said:

Yes mate, very easily and quickly but you need an AU address and photo ID. 

That let's me out. Have an Aussie passport but no longer any address in Oz after 11 years in Thailand.

[rhodie]

17 minutes ago, giddyup said:

That let's me out. Have an Aussie passport but no longer any address in Oz after 11 years in Thailand.

 

Have you not got family or a friend who's address you can use? That will work. All correspondence is online so the address is in name only.

 

Edit: Not sure if you have to have photo ID with address. I joined a long time ago. That will stymie things unfortunately.

[ripstanley]

3 hours ago, giddyup said:

That let's me out. Have an Aussie passport but no longer any address in Oz after 11 years in Thailand.

I opened  a Transferwise account  3 years ago using my Thai address.

[RJRS1301]

5 hours ago, giddyup said:

That let's me out. Have an Aussie passport but no longer any address in Oz after 11 years in Thailand.

Use the address  you used for your passport if it was an Aust one.

[eagleo]

Australian Age Pension -Residential Home in Thailand asset or not?

I'm on the Australian Age Pension and trying to find out if I buy a residential property (condominium) in Thailand and would use this as principal place of residence, would that be excluded from the Centrelink asset test?  Slowly getting too old to travel back and forth on a regular basis and want to settle more permanent in Thailand.

I simply can't find any information on this online. 
Has anyone any idea?

[UncleMhee]

Income and assets from outside Australia

If you or your partner get income from, or have assets outside Australia, this could affect your Age Pension.

 

How is it calculated

We include any income or assets you or your partner have in another country. We do this when we assess your rate of Age Pension.

 

We use exchange rates to work out what your overseas income or assets are worth in Australia. If you have too much, it can reduce the amount of Age Pension you get.

 

To ask about these rates, either:

Call the foreign income line if you’re in Australia

Call our international phone numbers if you’re outside Australia. Freecall: (exit code) 0018006114136

 

https://www.servicesaustralia.gov.au/individuals/services/centrelink/age-pension/how-much-you-can-get/income-and-assets-from-outside-australia

[eagleo]

^ thanks @UncleMhee but I was wondering how a principal residence overseas is assessed. Is it an asset or is it excluded from the asset test? 

If the principal residence is in Australia then it is excluded from the asset test and and as such will not reduce the pension.

I can nowhere find how this works when the principal home is overseas.

[Artisi]

5 minutes ago, eagleo said:

^ thanks @UncleMhee but I was wondering how a principal residence overseas is assessed. Is it an asset or is it excluded from the asset test? 

If the principal residence is in Australia then it is excluded from the asset test and and as such will not reduce the pension.

I can nowhere find how this works when the principal home is overseas.

Think you will find that it's treated as an asset, considering you don't live it is and can be an income earner which is taxable. 

It's a double got-you ????????????

[Salerno]

8 minutes ago, Artisi said:

Think you will find that it's treated as an asset, considering you don't live it is and can be an income earner which is taxable. 

It's a double got-you ????????????

 

2 hours ago, eagleo said:

I'm on the Australian Age Pension and trying to find out if I buy a residential property (condominium) in Thailand and would use this as principal place of residence,

 

[Artisi]

40 minutes ago, Salerno said:

 

 

Sorry, misread your post. 

don't tell them about an O/S residence is the best way. 

I was asked a couple of years back to update my assets / income for previous years - I supplied tax returns and property details in Australia, without checking back I can't remember if I included the few  assets I have there - but certainly didn't mention  any Thai property 

 

[RJRS1301]

4 hours ago, eagleo said:

Australian Age Pension -Residential Home in Thailand asset or not?

I'm on the Australian Age Pension and trying to find out if I buy a residential property (condominium) in Thailand and would use this as principal place of residence, would that be excluded from the Centrelink asset test?  Slowly getting too old to travel back and forth on a regular basis and want to settle more permanent in Thailand.

I simply can't find any information on this online. 
Has anyone any idea?

FIrstly do have poratbility for your pension?

Do you have properties in Australia?

What address does Centrelink have for you currently?

 

Many factors could affect the decision, contact the Older Australian help line through Human Services they are very knowledgeable.

 

 

[RJRS1301]

1 hour ago, Artisi said:

Sorry, misread your post. 

don't tell them about an O/S residence is the best way. 

I was asked a couple of years back to update my assets / income for previous years - I supplied tax returns and property details in Australia, without checking back I can't remember if I included the few  assets I have there - but certainly didn't mention  any Thai property 

 

If they find you have not disclosed all information on assets, they can penalise you, depending on circumstances of each case.

Basically you are makig a declaration of truth when you sign those forms

[scorecard]

6 minutes ago, RJRS1301 said:

FIrstly do have poratbility for your pension?

Do you have properties in Australia?

What address does Centrelink have for you currently?

 

Many factors could affect the decision, contact the Older Australian help line through Human Services they are very knowledgeable.

 

 

If your in Australia the direct dial number for 'older Australians' is 132 300.

[Lacessit]

4 hours ago, eagleo said:

Australian Age Pension -Residential Home in Thailand asset or not?

I'm on the Australian Age Pension and trying to find out if I buy a residential property (condominium) in Thailand and would use this as principal place of residence, would that be excluded from the Centrelink asset test?  Slowly getting too old to travel back and forth on a regular basis and want to settle more permanent in Thailand.

I simply can't find any information on this online. 
Has anyone any idea?

If you claim it as your principal place of residence, it should be excluded. Having said that, convincing Centrelink that is the case may be a different story if you can't be at a Centrelink office to plead your case in person. Also be aware a residential address outside Australia means the ATO treats you as non-resident, so any taxable income you have apart from the OAP is taxed at a higher rate.

Why would you want to buy a condo here? Rents are so cheap IMO one is better off that way. If the condo has problems such as lousy neighbors, poor management etc. as a tenant you can always move. Once you have bought, you're stuck and will very probably take a bath if you decide to sell.

[norbra]

On 11/23/2020 at 11:20 AM, giddyup said:

Can you open a TransferWise account online?

Yes vert easy and can use a Thai address

[eagleo]

Thanks to all who replied. 

To clarify, I was just thinking on selling my house in Australia and buying a condo in Thailand and have that under the Centrelink rule as principal place of residence, but for the next few years I'll just rent first in Thailand as @Lacessitsuggested as rents are cheap.@scorecard @RJRS1301I have portability of pension and I live already most of the time of the year in Thailand but got stuck back in Oz this year since March.

 

 

 

 

 

[UncleMhee]

16 hours ago, eagleo said:

^ thanks @UncleMhee but I was wondering how a principal residence overseas is assessed. Is it an asset or is it excluded from the asset test? 

If the principal residence is in Australia then it is excluded from the asset test and and as such will not reduce the pension.

I can nowhere find how this works when the principal home is overseas.

After finding and having a look through this link;- https://guides.dss.gov.au/guide-social-security-law/6/1/2/40 I think the freecall number is the best place to find out what you may want to know for future reference @eagleo

Sincere commiserations re your current circumstances.....131673 is the local number for calling from within Oz to Centrelink International Services as advised in the first link provided.

 

[scorecard]

Just now, UncleMhee said:

After finding and having a look through this link;- https://guides.dss.gov.au/guide-social-security-law/6/1/2/40 I think the freecall number is the best place to find out what you want to know @eagleo

 

 

I've called the older Australians line 132 300 several times. Waiting time no longer than 10 minutes at the most, every time the officer has been very courteous/polite, good listening, very clear answers, and politely asked whether the comment given was a complete answer to my question etc. 

 

I am assuming that the calls are recorded (I suspect all such calls are recorded nowadays) therefore my questions and the responses, my further comments etc., are on record and if needed they would be used in any later determination. 

 

Welcome to the 'modern' world.

 

Good luck.

[Artisi]

14 hours ago, Seeall said:

so on the form where it asks DO YOU HOLD ANYTHING OF VALUE ANYWHERE OVERSEAS YOU SAID NO AND SIGNED IT?

Quite an assumption on your part, and no need to shout. 

[Artisi]

15 hours ago, RJRS1301 said:

If they find you have not disclosed all information on assets, they can penalise you, depending on circumstances of each case.

Basically you are makig a declaration of truth when you sign those forms

For starters, as a foreigner I don't and can't own property here, unless part of a condo or similar - and even if I did or could it would be my prime residence and excluded from assets. 

[deej]

To morning my Old Age pension was directly deposited to my Bangkok  Bnk AC  from Reserve Bank of Australia. Not complaining at all ,as exchange rate was 22.1 baht to the AUD

But its been yonks since the TF has come this way,perhaps they have dumped Citi Bank,i certainly hope so????

[Seeall]

16 hours ago, norbra said:

Yes vert easy and can use a Thai address

 

But then no Card!

[Seeall]

2 hours ago, Artisi said:

For starters, as a foreigner I don't and can't own property here, unless part of a condo or similar - and even if I did or could it would be my prime residence and excluded from assets. 

If your prime res in NOT AU then you receive less pension?

[Seeall]

2 hours ago, Artisi said:

Quite an assumption on your part, and no need to shout. 

 

sorry to offend your sensebilties... "I should of use exclamation marks"

 

assumption?  I have signed that thing for years!

[Inala]

7 hours ago, eagleo said:

Thanks to all who replied. 

To clarify, I was just thinking on selling my house in Australia and buying a condo in Thailand and have that under the Centrelink rule as principal place of residence, but for the next few years I'll just rent first in Thailand as @Lacessitsuggested as rents are cheap.@scorecard @RJRS1301I have portability of pension and I live already most of the time of the year in Thailand but got stuck back in Oz this year since March.

 

 

 

 

 

 

 

I agree with everyone else. Never, ever, ever, ever, sell a house in your home country where at least you are a citizen and have some rights. You're only a guest in Thailand and really have very few rights when problems arise. Look what happened in Covid. 

 

There are literally thousands upon thousands of condos for rent in Thailand and if something goes wrong you can just up and go....

 

The world is a different place to what it was 12mths ago. We've seen now how your rights can be removed with a single decree.

 

[giddyup]

16 minutes ago, Inala said:

 

I agree with everyone else. Never, ever, ever, ever, sell a house in your home country where at least you are a citizen and have some rights. You're only a guest in Thailand and really have very few rights when problems arise. Look what happened in Covid. 

 

There are literally thousands upon thousands of condos for rent in Thailand and if something goes wrong you can just up and go....

 

The world is a different place to what it was 12mths ago. We've seen now how your rights can be removed with a single decree.

 

It's different for everybody. I sold up my house in Australia before I moved to Thailand 11 years ago, and have absolutely no regrets. I used about a third of the money to but a nice house here, in my partners name of course, but I knew I could trust her 100%. I didn't want the headache of trying to maintain or rent my house in Australia whilst in Thailand. Unless there is a decree which kicks all falangs out of Thailand, I see no reason why I can't remain here until I die.

[Artisi]

On 1/10/2008 at 8:41 PM, VOICEOVER said:

I don't turn 65 for another couple of years but when I do, I was under the impression that I could claim the Australian Aged Pension while continuing to reside in Thailand.

Having paid massive amounts in Australian income tax and every other tax they can think of for my entire working life, I figured I could look forward to living reasonably well on our Aged Pension in Thailand. Problem is, according to one source, I might not be able to claim the pension if I am not living in Australia. Another says it will cut-out after 26 weeks if I am away from Oz.

Tried to get info from the so called "Seniors" Link through the Aust. Gvt. website. No USE!!

Would greatly appreciate ANY and ALL info you can offer.

Cheers,

VOICEOVER.

This particular question has been done to death over and over on thaivisa, suggest you do some homework /research and save everyman and his dog re-hashing it once again. 

 

To put it simply, you have to be in Aust. to apply and need to be classed as  a resident for 2 years prior to leaving permanently for O/S. 

[deej]

33 minutes ago, Inala said:

 

I agree with everyone else. Never, ever, ever, ever, sell a house in your home country where at least you are a citizen and have some rights. You're only a guest in Thailand and really have very few rights when problems arise. Look what happened in Covid. 

 

There are literally thousands upon thousands of condos for rent in Thailand and if something goes wrong you can just up and go....

 

The world is a different place to what it was 12mths ago. We've seen now how your rights can be removed with a single decree.

 

The Dooms Dayer report.????

[Andy from Kent]

26 minutes ago, giddyup said:

I knew I could trust her 100%.

 

 

Your partner must be different..        ????