Australian Aged Pension

[4MyEgo]

18 minutes ago, David Walden said:

My soon to be next trip to Thailand is with Scoot from Perth to BKK good price Aus$139+16 for meal. They charged me $20 transaction about 15% fee, of the fare (now $175) that was before 1/8/17.  From that date they can only charge you the cost they incur from the fee the banks charge which is usually about 1.0% which should now be only about $1.50. on a ticket like this now.

 

By contrast I am returning to Perth from KL in December on AirAsia $92 plus $2.00 transaction fee (real cheap bought this ticket after 1/8/2017)) Train Cha-am to KL for fun.  You used to be able to use PayPal for AirAsia to pay for tickets, there was no fee at all, AirAsia stopped that because they were not making any money from gouging customers with disgusting credit card fees.  The ACCC  (consumer affairs) in Aus seems to have already had an effect on Airlines ripping off customers with outrageous credit card fees.  When AisAsia stopped accepting Paypal payments a couple of years ago the credit card fee was about 15% above the price of the ticket this now appears to have stopped?? and is now about 1 or 2%

Hmmmmmmm??? Maybe until they think of something else.

 

I was aware that there was something in the pipeline back then, great to see the ACCC has delivered, however not sure if this applies to international fees, i.e. Thai Airways for example are in Thailand, and charge their 2.5% for example which is passed onto the banks, get my drift

[keithpa]

3 minutes ago, 4MyEgo said:

I was aware that there was something in the pipeline back then, great to see the ACCC has delivered, however not sure if this applies to international fees, i.e. Thai Airways for example are in Thailand, and charge their 2.5% for example which is passed onto the banks, get my drift

Australian Age Pension!

[SplitInfinitive]

7 minutes ago, giddyup said:

I have my pension paid into an Aussie bank, I just do an online transfer when necessary to my Thai bank, then I withdraw from local ATM's using the Thai bank's cash card, no fees.

You get a free online international transfer?

Could I ask which banks you use?

 

I need to transfer some funds and the fees offered are high enough to almost warrant flying back and returning with it in cash. 

[giddyup]

29 minutes ago, SplitInfinitive said:

You get a free online international transfer?

Could I ask which banks you use?

 

I need to transfer some funds and the fees offered are high enough to almost warrant flying back and returning with it in cash. 

No, not free. It costs $18 to transfer a max of $10,000, but I only need to do it twice a year.

[David Walden]

On 9/18/2017 at 11:38 AM, 4MyEgo said:

There is a way around this is your willing, prior to reaching the retirement age, say about 3 years, if you have money over the threshold, reduce it by taking a big slice of it out and putting it into your wife's account in Thailand, you could say you decided to build a house for your wife's mother, your kid/s or whatever, then 2 years prior to the OAP age, you can book a single ticket to Australia, rent a place, and apply for a divorce.

 

Wife can also come back to the country week or so later and move in with you, although CentreLink could find out she is in the country, well that's news to me, must have followed me back, but haven't seen or heard from her, besides she is an Aussie citizen and as long as she doesn't ask me for more money, then I am fine Mr CentreLink.

 

Now 2 years later Mr CentreLink gives me my OAP and I am off to Thailand to start living again as I was once before, the wife can join me the day after when she jets out of Australia.

 

Well that's the plan and if it works in 12 years time and I remember, I will update the post.

 

As my wife is 21 years my junior, it would be a long time coming before she gets the pension, and I will be long gone by then, that or be a miserable old coot 555

Yes that may work but it's better if you said you blew at the races in Thailand (sorry I've got a problem), people keep on stealing money from me boo hoo.  If your assets are suddenly reduced and appear to bring you back to the threshold by more then $10,000 per year or $30,000 immediately to apply to the next 5 years.  Centrelink will want to know what happened to it.  You can only gift the amounts shown above perhaps if you gave it away this might help.  Even if you gift more then $10,000 per year or $30,000 max over 5 years Centrelink will treat this as divested assets and treat the money given a way as still part of you assets.  

 

If you own a house and a million dollars and and want an aged pension in Aus,  you can give away all but $382,000 to your kids (or anyone) and think you will get the pension, not so.  For the benefit of Centrelink you will be assessed as still having $970.000 what you did with it they don't care and will not be interested unless you lost it at the races or went on an extended world tour at $10,000 p/w for 14 months and blew it leaving the $382K . If you give it away they will regard it as an investment (money owed to you) and also deem it as if you were receiving about 2.5% interest on it.  If it suddenly disappears they will just regard it as divested and continue to treat it as an asset.  You will have to prove you lost it in a card game?  I've been to dinner at aThai's house and seen serious money on the able after dinner and all night...tell them that.

 

This is why last year and this year it was very hard to even get a ticket on a pricey world tour holiday anywhere from Australia, you had to queue up to talk to the travel agents.  Everyone trying to have fun whilst they could and get their assets down to the threshold ( new reduced threshold).  I know I because I was one.  You go into Flight Centre and there 20 people in front of you some  with a $20,000/100,000 bank cheque in their hand ahead of you waiting to give it to someone.   "What's the world coming too"

[4MyEgo]

14 minutes ago, David Walden said:

Yes that may work but it's better if you said you blew at the races in Thailand (sorry I've got a problem), people keep on stealing money from me boo hoo.  If your assets are suddenly reduced and appear to bring you back to the threshold by more then $10,000 per year or $30,000 immediately to apply to the next 5 years.  Centrelink will want to know what happened to it.  You can only gift the amounts shown above perhaps if you gave it away this might help.  Even if you gift more then $10,000 per year or $30,000 max over 5 years Centrelink will treat this as divested assets and treat the money given a way as still part of you assets.  

 

If you own a house and a million dollars and and want an aged pension in Aus,  you can give away all but $382,000 to your kids (or anyone) and think you will get the pension, not so.  For the benefit of Centrelink you will be assessed as still having $970.000 what you did with it they don't care and will not be interested unless you lost it at the races or went on an extended world tour at $10,000 p/w for 14 months and blew it leaving the $382K . If you give it away they will regard it as an investment (money owed to you) and also deem it as if you were receiving about 2.5% interest on it.  If it suddenly disappears they will just regard it as divested and continue to treat it as an asset.  You will have to prove you lost it in a card game?  I've been to dinner at aThai's house and seen serious money on the able after dinner and all night...tell them that.

 

This is why last year and this year it was very hard to even get a ticket on a pricey world tour holiday anywhere from Australia, you had to queue up to talk to the travel agents.  Everyone trying to have fun whilst they could and get their assets down to the threshold ( new reduced threshold).  I know I because I was one.  You go into Flight Centre and there 20 people in front of you some  with a $20,000/100,000 bank cheque in their hand ahead of you waiting to give it to someone.   "What's the world coming too"

So what your saying is you withdraw the amount required to keep you under the threshold, say 5 years prior, i.e. you took the money out to buy the kids some land and build the kids a house, unbeknown to you 3 years later you are getting a divorce, that's 2 years before you get to the CentreLink office, Mr CentreLink, I spent the money buying the kids land and building them a house, but in Thailand your not allowed to own land as a foreigner, she shafted me well and truly Mr CentreLink, well at least I have the OAP to fall back on 555

[Nemises]

4 minutes ago, 4MyEgo said:

So what your saying is you withdraw the amount required to keep you under the threshold, say 5 years prior, i.e. you took the money out to buy the kids some land and build the kids a house, unbeknown to you 3 years later you are getting a divorce, that's 2 years before you get to the CentreLink office, Mr CentreLink, I spent the money buying the kids land and building them a house, but in Thailand your not allowed to own land as a foreigner, she shafted me well and truly Mr CentreLink, well at least I have the OAP to fall back on 555

Why not buy THAI gold 5 years prior, hide it, then sell it (most likely at a far higher price) after qualifying for the OAP?

[4MyEgo]

1 minute ago, Gregster said:

Why not buy THAI gold 5 years prior, hide it, then sell it (most likely at a far higher price) after qualifying for the OAP?

I like your thinking, thanks for the heads up, that may just be a possibility, beats leaving it the safe or her bank account in Thailand for 5 years.

 

Thanks old son 555

[David Walden]

18 hours ago, Gregster said:

Why not buy THAI gold 5 years prior, hide it, then sell it (most likely at a far higher price) after qualifying for the OAP?

It is fraught with danger if you divest yourself from your excess assets in the few years preceding your application to receive the aged pension.  You need to have a good story to tell Centrelink.  They may just put the onus back on you that you have not put it in a Swiss Bank account or other places  You can get the full Aus pension with $450K + ( no house) of assets in anything and have no worries, maybe super?  There is a sliding scale where it goes down to nothing about $600K+.   If you are going to divest yourself for what ever reason just make sure every one knows your a lousy businessman and a rotten gambler and you are good friend with a nice bank manager Hong Kong that will do.  Mums the word there.

 

People who have modest amounts of investments in super may well be worse of then people who just buy units in an investment fund.  The tax threshold for aged pensioners is about $35,000, about $60,000 for couples.  Dividend from small investor's units which are not in a super fund would not be taxable if your combined income was below low the $35,000 tax threshold.   Profits generated within super are now taxed at 15%. and there is no way of claiming it back if you are under the tax threshold.  This a govt trick all done with mirrors?

 

Just a few years ago there was no tax on super.  Mine is grandfathered, no tax applies to mine as it was in place before the tax came in.   

[Nemises]

3 hours ago, 4MyEgo said:

I like your thinking, thanks for the heads up, that may just be a possibility, beats leaving it the safe or her bank account in Thailand for 5 years.

 

Thanks old son 555

Your welcome mate. It's all part of my "CASINO GOLD" pension plan which is as follows...

 

Rather then telling Centrelink (should they ask) that I "lost all of my money" at Thai racetracks and casinos (which don't legally exist in Thailand) and card games, I intend to tell them that I "lost" it all at LEGAL various casinos located in other countries close to Thai borders and elsewhere.

 

I make a point of crossing Thai borders every now and again to obtain a personalised Players Reward Casino Card, most showing Photo ID. So far I have collected many Cards (2 from Laos, 1from Cambodia). I also so far have 2 Cards from Australian casinos and 2 from Las Vegas casinos.

 

So, even though I HATE casinos and have never bet a cent in one,  when I rock up to Centrelink to claim the OAP I intend to pull out about a dozen current and valid Players Cards to verify that I am addicted to Casinos and that they (the casinos) are to blame for the big drop of my cash assets in the 5 years leading up to claiming the OAP.

 

I will then return to Thailand with my OAP and maximum allowable threshold cash in my bank, sell my hidden gold and hopefully.... live the dream.

 

Like I say, its my plan. Time will tell...

 

 

 

 

[4MyEgo]

4 minutes ago, Gregster said:

Your welcome mate. It's all part of my "CASINO GOLD" pension plan which is as follows...

 

Rather then telling Centrelink (should they ask) that I "lost all of my money" at Thai racetracks and casinos (which don't legally exist in Thailand) and card games, I intend to tell them that I "lost" it all at LEGAL various casinos located in other countries close to Thai borders and elsewhere.

 

I make a point of crossing Thai borders every now and again to obtain a personalised Players Reward Casino Card, most showing Photo ID. So far I have collected many Cards (2 from Laos, 1from Cambodia). I also so far have 2 Cards from Australian casinos and 2 from Las Vegas casinos.

 

So, even though I HATE casinos and have never bet a cent in one,  when I rock up to Centrelink to claim the OAP I intend to pull out about a dozen current and valid Players Cards to verify that I am addicted to Casinos and that they (the casinos) are to blame for the big drop of my cash assets in the 5 years leading up to claiming the OAP.

 

I will then return to Thailand with my OAP and maximum allowable threshold cash in my bank, sell my hidden gold and hopefully.... live the dream.

 

Like I say, its my plan. Time will tell...

 

 

 

 

I dare say, that's GOLD !!!

 

Good luck with it, hope your plan works to the max for you, because without a plan, you don't have a plan 555

[ubonjoe]

I have removed several off topic posts and the resultant bickering between a few members. Time to get back on topic.

[David Walden]

You have deleted my most recent post on this site which was I presume off topic.  I was seeking other people experiences in getting the best from an "Non-immigrant O-A M visa" or a "Retirement Visa " issued   In Australia.  I will be making no further contributions to this site until it is restored.

[ubonjoe]

21 minutes ago, David Walden said:

You have deleted my most recent post on this site which was I presume off topic.  I was seeking other people experiences in getting the best from an "Non-immigrant O-A M visa" or a "Retirement Visa " issued   In Australia.  I will be making no further contributions to this site until it is restored.

It was actually removed because it was a reply to a removed post.

Asking questions about visas and extensions is off topic for the Home Country forum and certainly this topic on it.

From the main page of this forum.

Quote

Home Country Forum

Pensions, regulations, laws, etc. that affect expats living in Thailand. No visa related topics.

 

[David Walden]

Thank you as I said I will be making no further contributions to this site.

[moojar]

I'm a few pages behind, so sorry if this has been covered.  

 

The Citibank thing - I use Citibank, but my understaning is they will not cover / refund the other bank's fees.  

 

https://www.citibank.com.au/aus/banking/everyday_banking/citibank_plus.htm

 

Quote

1. Citibank Australia does not charge Citibank Plus everyday account holders a fee when they withdraw funds from an international ATM or use their Citibank Debit Card to make in-store purchases overseas. Customers may be charged by the third party provider, which Citibank Australia does not control.

 

I withdraw only from the Citibank ATMs in Bangkok.  On my next visit I shall experiment - cop a B220 fee to withdraw from a Thai bank up country and see what Citibank does with that.

 

Others may be under different terms and conditions?  "Grandfathered" T&Cs with an older account perhaps.  

 

[moojar]

^ Oops, off topic sorry.  I've just caught up.  

 

I was quite enjoying the general "Aussies retired in Thailand" conversation too.  

[fishhooks]

On 9/17/2017 at 9:58 PM, David Walden said:

Yes I just noticed that but my information is current.  It's unbelievable how much fear and miss information is on this site about  Aussie aged pensions overseas which is completely wrong.  But I thank you, I made a few replies and then noticed there are another 97 pages 

                                                        

I'm still here....Cheers

[David Walden]

9 hours ago, moojar said:

I'm a few pages behind, so sorry if this has been covered.  

 

The Citibank thing - I use Citibank, but my understaning is they will not cover / refund the other bank's fees.  

 

https://www.citibank.com.au/aus/banking/everyday_banking/citibank_plus.htm

 

 

I withdraw only from the Citibank ATMs in Bangkok.  On my next visit I shall experiment - cop a B220 fee to withdraw from a Thai bank up country and see what Citibank does with that.

 

Others may be under different terms and conditions?  "Grandfathered" T&Cs with an older account perhaps.  

 

I'm sorry I put this post on the other site I started "Getting a Thai retirement visa in Australia

I asked 5 on another site, questions which Thai visa edited out.  I usually do not continue posting to any site if moderators edit my posts.   My questions maybe more appropriate in this post.

 

I now have a "Retirement Visa" issued from The Royal Thai Embassy Canberra Australia" or technically known as a "non-immigrant  O-A  type  M visa"  (it say so on the visa).   Question   1...How many time in year a can I come and go from Thailand on this visa 2, 10 or 20 times or more?   2... Can I have this type of visa extended just before the conclusion of the 1st 12 months for another year, how?    3...Is there an immigration charge to extend it?   4...Exiting the country by train is that a problem, i.e. by train to  Cha -am to Malaysia?  5...Is a re-entry stamp required each time I exit and return to Thailand do I have to pay for it.

 

 My opening post and following responses on this site are explaining the frivolous requirements in getting a "Thai Retirement Visa" in Australia .  Nice to know if anyone can provide answers to above.

 

Other question about Citibank debit card...I have perused my Citibank statements during the last time I was in Thailand in regard their Debit Card transactions.  It used to be they added the ATM fees for each transaction and at the end of the month a credit would appear refunding all ATM fee as a single entry.   Recently that has changed and the ATM fee no longer appears.   My calculations indicate it is not included in the transactions.

 

WARNING:- Citibank Credit Card transaction are different to debit card transactions at ATMs, they are not free of fees.  Using a Citibank Credit Card in Thailand you will be slugged in fees about the same as ANZ.  I never use my Citibank credit card but it is linked to my debit card and if you press the wrong button on the ATM you can take the money from your credit card by mistake.  Taking Bt10,000 will cost you about Aus $25 the same as ANZ.

 

It's hard to decide which post to put comments on this site or the other site I started "Getting a Thai Retirement Visa in Australia"  they are much about the same the same thing    

[giddyup]

Sorry, DP

 

[giddyup]

On 9/21/2017 at 1:34 PM, David Walden said:

Thank you as I said I will be making no further contributions to this site.

Huh?

[David Walden]

26 minutes ago, giddyup said:

Huh?

I took my Avatar down instead .  I though to prefer that better

[giddyup]

1 minute ago, David Walden said:

I took my Avatar down instead .  I though to prefer that better

(Read) I couldn't stay away. Hope you don't have more comebacks than John Farnham.

[halloween]

On 9/20/2017 at 2:23 PM, SplitInfinitive said:

You get a free online international transfer?

Could I ask which banks you use?

 

I need to transfer some funds and the fees offered are high enough to almost warrant flying back and returning with it in cash. 

I was just looking at exchange rates for my last bank transfer and found a phone app called Currencies Direct. They are currently offering B26.397/AUD with no fees, which is considerably better than my fee free CU account which is giving 25.6. Pay in from Bank a/c or debit card, payout to bank a/c.

[David Walden]

2 hours ago, giddyup said:

(Read) I couldn't stay away. Hope you don't have more comebacks than John Farnham.

Yes and it was so good when John Farnham came out of retirement for about the 10th time.  I did see 3 of his concerts he is pretty good on the stage.   Would you like me to restore my avatar?

[giddyup]

23 minutes ago, David Walden said:

Yes and it was so good when John Farnham came out of retirement for about the 10th time.  I did see 3 of his concerts he is pretty good on the stage.   Would you like me to restore my avatar?

Up to you, but before you have another hissy fit and vow never to return, you might consider how silly it looks when you do.

[David Walden]

37 minutes ago, giddyup said:

Up to you, but before you have another hissy fit and vow never to return, you might consider how silly it looks when you do.

What is a hissy fit?

[kkerry]

On 9/21/2017 at 1:34 PM, David Walden said:

Thank you as I said I will be making no further contributions to this site.

 

[David Walden]

3 minutes ago, kkerry said:

 

Never let the truth get in the way of a good story...good to see a few tongues wagging.

[mark5335]

19 hours ago, David Walden said:

I'm sorry I put this post on the other site I started "Getting a Thai retirement visa in Australia

I asked 5 on another site, questions which Thai visa edited out.  I usually do not continue posting to any site if moderators edit my posts.   My questions maybe more appropriate in this post.

 

I now have a "Retirement Visa" issued from The Royal Thai Embassy Canberra Australia" or technically known as a "non-immigrant  O-A  type  M visa"  (it say so on the visa).   Question   1...How many time in year a can I come and go from Thailand on this visa 2, 10 or 20 times or more?   2... Can I have this type of visa extended just before the conclusion of the 1st 12 months for another year, how?    3...Is there an immigration charge to extend it?   4...Exiting the country by train is that a problem, i.e. by train to  Cha -am to Malaysia?  5...Is a re-entry stamp required each time I exit and return to Thailand do I have to pay for it.

 

 My opening post and following responses on this site are explaining the frivolous requirements in getting a "Thai Retirement Visa" in Australia .  Nice to know if anyone can provide answers to above.

 

Other question about Citibank debit card...I have perused my Citibank statements during the last time I was in Thailand in regard their Debit Card transactions.  It used to be they added the ATM fees for each transaction and at the end of the month a credit would appear refunding all ATM fee as a single entry.   Recently that has changed and the ATM fee no longer appears.   My calculations indicate it is not included in the transactions.

 

WARNING:- Citibank Credit Card transaction are different to debit card transactions at ATMs, they are not free of fees.  Using a Citibank Credit Card in Thailand you will be slugged in fees about the same as ANZ.  I never use my Citibank credit card but it is linked to my debit card and if you press the wrong button on the ATM you can take the money from your credit card by mistake.  Taking Bt10,000 will cost you about Aus $25 the same as ANZ.

 

It's hard to decide which post to put comments on this site or the other site I started "Getting a Thai Retirement Visa in Australia"  they are much about the same the same thing    

Since you have a Mulitple Entry Visa ("M") you don't need a Re-Entry permit during the validity of the visa. It's good for an unlimited number of visits of up to 90 days each during its validity (with entry by various modes of transport.) The visa can be extended for 12months during the final 30 days of your last 90 day visit, if you depart and return just prior to the expiry date you still get another 90 days stay . Once extended for 12 months you will then need a multi Re-Entry permit. Fees for extending and for the multi re-entry permit are not substantial (something like 1,900 baht + 3,800 baht).

 

(By the way, this question should  be in the Thai Visas, Residency and Work permit Sub-Forum and not the Home Country Sub-Forum).