Australian Aged Pension

[Lacessit]

My policy is to take note of any changes that may affect me, lie low and tell Centrelink nothing. I have not updated my asset base online for two years now. I get a part pension.

It's not as if I am cheating, my asset base has shrunk a bit as I draw down on it. However, the extra few bucks I would get by updating it is simply not worth the hassle of explaining all the changes to anally-retentive officials.

[KhunHeineken]

On 6/30/2022 at 7:42 AM, deej said:

More scare mongering opinion,s, from u????????????

Without any valid  proof,  to back your crazy  assumption,s up,

All P#ss and Wind????????????

 

The proposed changes are not my opinion, they are fact.  You have links to them from many sources.   

 

The proposed changes are about residency for taxation purposes and clearly sets out that the Government wishes to simplify the criteria for classification by using 183 days inside, or outside, of Australia. 

 

They are proposed changes.  What more proof of proposed changes do you need?

 

Should they be passed into legislation, the way it reads to me is anyone inside Australia for 183 days will be deemed a resident for tax purposes, and therefore anyone outside of Australia for 183 days will be deemed a non resident for tax purposes.  That's the simplification the Government wants. 

 

I have no idea if pensions or pensioners will be effected.  I have only ever said they "could be" or "may be" or "it's possible" these changes effect expats.  

 

It was only a heads up to keep an eye on it and because it may upset the apple carts of members I have been personally attacked.   

 

Do with the information as you please, or in your case, do nothing, I couldn't care less, but the proposed changes are fact, not opinion. 

[KhunHeineken]

On 7/8/2022 at 8:49 AM, Lacessit said:

My policy is to take note of any changes that may affect me, lie low and tell Centrelink nothing.

This is a policy most of us have been implementing for years, but should the proposed changes be passed, this will allow the Government to straight away classify you as a non resident for taxation purposes, with nothing you can do about it because you have been outside Australia for 183 days.   

 

What happens after that is the unknown. 

 

Let me say that again for those who think it is scare mongering. 

 

The immigration department will know you are outside of Australia for 183 days, therefore you will be classified as a non resident for taxation purposes.  What Centerlink and the tax office do with this information, and what the proposed changes will allow them to do, and its impact on you, is unknown at this stage. 

[Will27]

21 minutes ago, KhunHeineken said:

This is a policy most of us have been implementing for years, but should the proposed changes be passed, this will allow the Government to straight away classify you as a non resident for taxation purposes, with nothing you can do about it because you have been outside Australia for 183 days.   

 

What happens after that is the unknown. 

 

Let me say that again for those who think it is scare mongering. 

 

The immigration department will know you are outside of Australia for 183 days, therefore you will be classified as a non resident for taxation purposes.  What Centerlink and the tax office do with this information, and what the proposed changes will allow them to do, and its impact on you, is unknown at this stage. 

FMD mate, you're like a dog with a bone.

How many times you going to keep saying the same thing?

 

We get the message.

[Olmate]

Change.his username to xxxx might get more likes????! 

[deej]

FWIW

From my memory approx 6 yrs ago, the Libs through the then Social Minster, the one who  adores behind,s????????????attempted to make changes to our Portable

Pension,s but was BLOCKED in the Senate by LABOUR full stop.

And status quao remains, to this point of time, IMO,with Labour  in power,  the runs are on the board, that no change is immediately forth coming and  from my observation, have seen no valid Govt,  link to immediate change

????????????

[Olmate]

September our. F.N rate expected to rise $45  and ok to work without effecting allowance inreases also. All good signs from Labour.

[scorecard]

7 hours ago, Olmate said:

September our. F.N rate expected to rise $45  and ok to work without effecting allowance inreases also. All good signs from Labour.

F.N rate ?

[ripstanley]

7 minutes ago, scorecard said:

F.N rate ?

FN is probably fortnightly. 

[scorecard]

50 minutes ago, ripstanley said:

FN is probably fortnightly. 

Thanks. so AUD45 per fortnight increase. Do you now, has this been specifically stated or is it a guess???

 

Friends in OZ have mentioned several times recently there's a lot of serious/angry discussion about pensioners / families (pensioners and non-pensioners) who are really struggling to put 3 meals on the table, pay rent, electricity, put petrol in the car etc.

 

We wait and see.

Edited July 16, 2022 by scorecard

[ripstanley]

4 minutes ago, scorecard said:

Thanks. so AUD45 per fortnight increase. Do you now, has this been specifically stated or is it a guess???

 

Friends in OZ have mentioned several times recently there's a lot of serious/angry discussion about pensioners / families (pensioners and non-pensioners) who are really struggling to put 3 meals on the table, pay rent, electricity, put petrol in the car etc.

 

We wait and see.

I do not know. I was only giving my thoughts of what FN may mean.

[scorecard]

Just now, ripstanley said:

I do not know. I was only giving my thoughts of what FN may mean.

Thanks. 

[ozfarang]

This article about Centrelink increases that are likely to occur in September.

 

https://www.dailymail.co.uk/news/article-11007585/Centrelink-payments-set-increase-millions-Australians.html

 

The increase depends on the CPI released towards the end of July 

Edited July 16, 2022 by ozfarang

[Lacessit]

5 minutes ago, ozfarang said:

This article about Centrelink increases that are likely to occur in September.

 

https://www.dailymail.co.uk/news/article-11007585/Centrelink-payments-set-increase-millions-Australians.html

 

The increase depends on the CPI released towards the end of July 

That's a foregone conclusion then, the CPI is going nowhere but up.

[KhunHeineken]

On 7/15/2022 at 4:07 AM, Will27 said:

FMD mate, you're like a dog with a bone.

How many times you going to keep saying the same thing?

 

We get the message.

"She'll be right, mate."  ???? 

[KhunHeineken]

On 7/16/2022 at 2:46 AM, deej said:

FWIW

From my memory approx 6 yrs ago, the Libs through the then Social Minster, the one who  adores behind,s????????????attempted to make changes to our Portable

Pension,s but was BLOCKED in the Senate by LABOUR full stop.

And status quao remains, to this point of time, IMO,with Labour  in power,  the runs are on the board, that no change is immediately forth coming and  from my observation, have seen no valid Govt,  link to immediate change

????????????

I have never once suggested pension portability would be scrapped.

 

What I have suggested is it MAY be possible that EVERY expat, that's everyone from Paul Hogan to someone on an old age pension in Thailand, will be deemed a non resident for taxation purposes because the new laws, if passed, simply classify everyone outside of Australia for 183 as a non resident, with no grey areas to argue. 

 

I have posted the non resident tax brackets previously, and they are very high, with the first bracket being $0 to $120,000, which would scoop up most expats.   Note it's from $0.  The first $18,500 is not exempt. 

 

ANY and ALL income, including pensions, MAY be taxed at non resident rates.   That's Paul Hogan's income, and that's the old age pensioner's "income" of the pension. 

 

Discussion about means testing, pensions being exempt etc have been posted, but losing portability, completely, has never been suggested, and I doubt that would ever happen.   

 

Currently, a lot of money is leaving Australian shores, legally, because the old criteria of resident / non resident had a lot of grey area one could manoeuvre around.  The new criteria, if passed, is simple, with no grey area.  In Australia 183 days, resident.  Outside Australia 183 days, non resident.  Why wouldn't the tax man want a piece of that action? 

[KhunHeineken]

On 7/15/2022 at 4:35 AM, Olmate said:

Change.his username to xxxx might get more likes????! 

I'm not posting for Likes or Thumbs Up. 

 

The changes, if passed, may, or may not, effect a few, or all of us. 

 

It's probably something most expats should be made aware of. 

[KhunHeineken]

On 7/16/2022 at 1:39 PM, Lacessit said:

That's a foregone conclusion then, the CPI is going nowhere but up.

Over the 12 months to the March 2022 quarter, up 5.1%.

 

https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/consumer-price-index-australia/latest-release#:~:text=The Consumer Price Index (CPI) rose 2.1% this quarter,Automotive fuel (%2B11.0%).

 

Edited July 18, 2022 by KhunHeineken

[Olmate]

14 minutes ago, KhunHeineken said:

I'm not posting for Likes or Thumbs Up. 

 

  OK dislikes then. Obviously not a Queenslander either.! 

[deej]

4 hours ago, KhunHeineken said:

I have never once suggested pension portability would be scrapped.

 

 

 

I

 

 

So why keep on Jawboning or Trolling 

Give me  a  break, .until it happens

[scorecard]

10 hours ago, KhunHeineken said:

"She'll be right, mate."  ???? 

Actually that's not the reaction of most posters. (But of course you must twist to gain the attention you want and to upset as many as you can.) 

 

'We wait and see' is the typical reacation many have posted. 

[KhunHeineken]

21 hours ago, Olmate said:

  OK dislikes then. Obviously not a Queenslander either.! 

Negative publicity is still publicity.  ????

 

Seriously though, talk about shoot the messenger.  

 

 

 

 

Edited July 19, 2022 by KhunHeineken

[KhunHeineken]

17 hours ago, deej said:

So why keep on Jawboning or Trolling 

Give me  a  break, .until it happens

Probably because you keep replying to a totally different topic to what I post about, or misquote me on a topic I haven't posted about.  Example: pension portability. 

[KhunHeineken]

11 hours ago, scorecard said:

Actually that's not the reaction of most posters. (But of course you must twist to gain the attention you want and to upset as many as you can.) 

 

'We wait and see' is the typical reacation many have posted. 

If you scroll back to when this topic first came up, you will see many posts along the lines of:

 

"the Government would never do that. " 

 

"that will never happen." 

 

"Centerlink told me 6 years ago..................."

 

"there would be too much bad publicity for the Government."

 

"there would be a big backlash by pensioners." 

 

"I use a VPN when accessing the MyGov website." 

 

"that's only for people like Paul Hogan."  

 

"they can't tax a pension."

 

"I'm still a resident because I am using an address in Australia." 

 

"I didn't tick the box leaving permanently on the departure card."

 

"I told my Australian bank I am still a resident of Australia." 

 

"I'm on a veteran's pension. It's different." 

 

"I'm still a resident because I go back to Australia for a couple of weeks every year." 

 

"it would cost too many votes." 

 

"I still have a Medicare card so I am still a resident." 

 

"My mate told me................................"

 

There were many others among these gems. 

 

Now, it's:

 

"wait and see"

 

"cross that bridge when I come to it"

 

Quite a turn around, don't you think? 

 

Edited July 19, 2022 by KhunHeineken

[Olmate]

29 minutes ago, KhunHeineken said:

Negative publicity is still publicity.  ????

 

Seriously though, talk about shoot the messenger.  

 

 

 

 

Dont kid.yourself on themessenger bit.????

[KhunHeineken]

2 minutes ago, Olmate said:

Dont kid.yourself on themessenger bit.????

Let's hope they remain "in limbo." 

 

https://www.wolterskluwer.com/en-au/expert-insights/proposed-tax-residency-changes-now-in-limbo

[Will27]

4 minutes ago, KhunHeineken said:

Let's hope they remain "in limbo." 

 

https://www.wolterskluwer.com/en-au/expert-insights/proposed-tax-residency-changes-now-in-limbo

I'm sure you'll keep us all up to date.

[RJRS1301]

31 minutes ago, KhunHeineken said:

If you scroll back to when this topic first came up, you will see many posts along the lines of:

 

"the Government would never do that. " 

 

"that will never happen." 

 

"Centerlink told me 6 years ago..................."

 

"there would be too much bad publicity for the Government."

 

"there would be a big backlash by pensioners." 

 

"I use a VPN when accessing the MyGov website." 

 

"that's only for people like Paul Hogan."  

 

"they can't tax a pension."

 

"I'm still a resident because I am using an address in Australia." 

 

"I didn't tick the box leaving permanently on the departure card."

 

"I told my Australian bank I am still a resident of Australia." 

 

"I'm on a veteran's pension. It's different." 

 

"I'm still a resident because I go back to Australia for a couple of weeks every year." 

 

"it would cost too many votes." 

 

"I still have a Medicare card so I am still a resident." 

 

"My mate told me................................"

 

There were many others among these gems. 

 

Now, it's:

 

"wait and see"

 

"cross that bridge when I come to it"

 

Quite a turn around, don't you think? 

 

Give up and take your meds please

[scorecard]

5 hours ago, KhunHeineken said:

Let's hope they remain "in limbo." 

 

https://www.wolterskluwer.com/en-au/expert-insights/proposed-tax-residency-changes-now-in-limbo

 

From your own list:

 

- "I use a VPN when accessing the MyGov website." 

 

On your topic or off your topic?

 

[KhunHeineken]

On 7/19/2022 at 1:21 AM, Will27 said:

I'm sure you'll keep us all up to date.

No updates, thus far. 

 

I have contacted my accountant and asked them to inform me if they hear anything.

 

The Tax Institute has "broadly welcomed the Government's willingness to reform the rules."

 

https://www.taxinstitute.com.au/insights/articles/our-submission-on-the-proposed-changes-to-the-individual-tax-res

 

 

Edited August 22, 2022 by KhunHeineken