Australian Aged Pension

[David Walden]

28 minutes ago, giddyup said:

I know I made the right choice, I have already been paid out more than I put in. If your uncle is single what difference does it make if he leaves nothing? Some distant relative who hardly know him gets a big payout? I don't think so.

Never a truer word spoken.  My uncle was always fit an worked out often all his life he is happy (more a friend then an uncle only 6 years older then me calls himself  "change of life baby").  However now he is not well had a stroke. this complicates think now for him getting into a care facility.  He does own a small unit in East Sydney which he has up for sale, that will mostly pay for a room at the care facility he seeks?  If he had the million dollar in the super still all would be a piece of cake.

[David Walden]

15 hours ago, David Walden said:

If you are living off your super I would suggest you seek someone who knows about these things.  The house you talk about is hers on her land (yes).  This may be a good point as if you don't own a house you live in you can have $456,750 in assets and still get the Aus single full pension.  You can be the star boarder.  You can only have  $253,000 in assets if you do own a house you live in.  Assets can be a car, super or anything.  And, you are not married we all know that? and only have a casual relation with your lady friend in Thailand? yes. ( maybe 3 kids as well, don't laugh maybe it's true? lovely).  You should be looking for ways to establish your Australian residency.  If you play your card right and your assets (super and all) is under $456,750 and you have the required residency you will get the Australian pension in full and be able to keep you super down load of at least 5% per year.  And live very comfortable in Thailand.  You additional super on top of you pension will be tax free also if you are under the tax threshold.

 

There are lots of ignorant people who contribute to this site who will say I'm all BS.  Don't worry about them they never go away.  You appear to be a nice relationship with a Thai Lady (or lady boy...joke 555) there will likely be that you will have to spend some time back in Aus. to qualify for a full pension.  How you handle that may well be your biggest hurdle (you can get over hurdles, just jump!) lots to plan and think about but doable with a little pain and patients...good luck.  Mr Moojar

 

 

Further to my above ravings, it appears by 100 weeks to go you are 63.5 y/o and married to a Thai Lady.  If you return to Aus to confirm your 2 residency you may well to ask to see a Centrelink Social Adviser and ask that some flexibility be applied to your situation as you are married to a Thai living in Thailand.  You should insist that being away from your wife and family would place great strain on your relationship and may likely to fail as a result. (lay it on thick). Social Workers with Centrelink can make recommendations which may allow you to spend much of your qualifying time in Thailand  and long holidays after granting of the pension, and satisfy the residency requirements. Centrelink Social Advisers under circumstances like this are rarely ignored by Centrelink Staff when considering your application.  This situation is quite common with Centrelink applicants and usually turn out for the better.  The marriage is saved.

 

If you are legally married to Thai and all goes well for you when granted the pension, you will only get half the married rate and lose most of the pension supplement.  This is still OK around 340 p/w, this together with your $600 super payment could put you on clover in Thailand.  If for this unlikely situation you and your wife separate down the road.  You will receive the full pension rate less the supplement of about $425 P/W and keep all your super if your assets are under $456,750 and no house...happy days.  

Edited May 24, 2018 by David Walden

[moojar]

18 hours ago, giddyup said:

I've been retired more than 10 years, can't add any money to my indexed super now.  My income in Thai Baht is around 24,000, or A$600 per week, we (my Thai lady and I) live very comfortably on that, with money actually accruing in my Aussie bank account. I buy whatever kind of food I want, enjoy a couple of bottles of red a month, new TV if I need one, run a late model pickup, own our own house etc. The only thing that could knock a hole in my income/assets would be a serious illness as I have no health cover, because of prohibitive premiums at my age.

Thanks for that, my budget might be a little light on then.  I would have been in Thailand for 10 years by the time I reach OAP age, so might be ready by then to spend a couple of years back in Oz to qualify for portability.  

 

I thought due to rule changes you may now be able to open a new Super account in a different fund, but I was wrong - it is more restrictive than I realised:  

Quote

Retirees aged between 65 and 74 with a superannuation balance below $300,000 will be allowed to make voluntary super contributions for the first year that they no longer meet the work test requirements. 

 - Got that from: https://www.industrysuper.com/understand-super/super-changes/proposed-changes/

 

[moojar]

2 hours ago, David Walden said:

Further to my above ravings, it appears by 100 weeks to go you are 63.5 y/o and married to a Thai Lady.  If you return to Aus to confirm your 2 residency you may well to ask to see a Centrelink Social Adviser and ask that some flexibility be applied to your situation as you are married to a Thai living in Thailand.  You should insist that being away from your wife and family would place great strain on your relationship and may likely to fail as a result. (lay it on thick). Social Workers with Centrelink can make recommendations which may allow you to spend much of your qualifying time in Thailand  and long holidays after granting of the pension, and satisfy the residency requirements. Centrelink Social Advisers under circumstances like this are rarely ignored by Centrelink Staff when considering your application.  This situation is quite common with Centrelink applicants and usually turn out for the better.  The marriage is saved.

 

If you are legally married to Thai and all goes well for you when granted the pension, you will only get half the married rate and lose most of the pension supplement.  This is still OK around 340 p/w, this together with your $600 super payment could put you on clover in Thailand.  If for this unlikely situation you and your wife separate down the road.  You will receive the full pension rate less the supplement of about $425 P/W and keep all your super if your assets are under $456,750 and no house...happy days.  

Hi David,

 

Thanks for that.  But no, I'm only in my mid fifties - trying to plan ahead but the goal posts keep shifting on me.  I'm in IT, a young man's game and one severely impacted by the 457 visa rorts. I will take early retirement around the time I reach Super preservation age, if I don't get retrenched first. 

 

My wife and I have been married for over 25 years, married here in Oz then a village wedding with her family.  Yep, good woman, a keeper.  ?   So there's no hiding that marriage from C/L!  ?

 

My wife has been a citizen for over 20 years now, we will apply for OAP as a couple - there are only one and a half years difference in our ages, but because of where our birthdays fall we will reach pension age two years apart, if the proposed raising of the age to 70 goes ahead.  That's a bit of a nuisance, I guess one of us must go on the dole for two years before reaching OAP age while the other is serving their two years portability period.  PITA.

 

Thanks for the tip re Centrelink Social Advisors, I'd not heard of them before.  My wife's grandmother lived until her mid-90s, every chance her mother will do the same.  Which would tie in nicely with what you suggest re laying it on thick.  Would not have to pretend either, my wife is the eldest child and that comes with great responsibility within a Thai family.   She is feeling that pressure as her mother ages. 

 

I read in a forum post once something along the lines of "my wife has lived in my country all of our married life, I will take her home to her country to live out our retirement years".   I found that quite touching, and appropriate.  

 

Cheers.

[Ban Phe Dezza]

30 minutes ago, moojar said:

Hi David,

 

Thanks for that.  But no, I'm only in my mid fifties - trying to plan ahead but the goal posts keep shifting on me.  I'm in IT, a young man's game and one severely impacted by the 457 visa rorts. I will take early retirement around the time I reach Super preservation age, if I don't get retrenched first. 

 

My wife and I have been married for over 25 years, married here in Oz then a village wedding with her family.  Yep, good woman, a keeper.  ?   So there's no hiding that marriage from C/L!  ?

 

My wife has been a citizen for over 20 years now, we will apply for OAP as a couple - there are only one and a half years difference in our ages, but because of where our birthdays fall we will reach pension age two years apart, if the proposed raising of the age to 70 goes ahead.  That's a bit of a nuisance, I guess one of us must go on the dole for two years before reaching OAP age while the other is serving their two years portability period.  PITA.

 

Thanks for the tip re Centrelink Social Advisors, I'd not heard of them before.  My wife's grandmother lived until her mid-90s, every chance her mother will do the same.  Which would tie in nicely with what you suggest re laying it on thick.  Would not have to pretend either, my wife is the eldest child and that comes with great responsibility within a Thai family.   She is feeling that pressure as her mother ages. 

 

I read in a forum post once something along the lines of "my wife has lived in my country all of our married life, I will take her home to her country to live out our retirement years".   I found that quite touching, and appropriate.  

 

Cheers.

as a foot note to your posts I have a friend in Thailand married to a Thai lady,  she spent 15 years in Australia so her husband gets the Married rate and she gets 15/35 of the married rate should hubby die first the she would then get 15 thirty fifths  of the Single rate

[David Walden]

1 hour ago, Ban Phe Dezza said:

as a foot note to your posts I have a friend in Thailand married to a Thai lady,  she spent 15 years in Australia so her husband gets the Married rate and she gets 15/35 of the married rate should hubby die first the she would then get 15 thirty fifths  of the Single rate

I not sure of it but as far as I understand the 35 year residence transition is being introduced over a 20 year period.  That is that the entitlement date extend six months for each 2 years of residence up to 35 years. Perhaps I'm wrong but rarely does Centrelink have a cut off date so dramatic as that???  Can't see any protests from the audience. Time to study Centrelink Web site for some clues.

Edited May 25, 2018 by David Walden

[David Walden]

1 hour ago, Ban Phe Dezza said:

as a foot note to your posts I have a friend in Thailand married to a Thai lady,  she spent 15 years in Australia so her husband gets the Married rate and she gets 15/35 of the married rate should hubby die first the she would then get 15 thirty fifths  of the Single rate

Yes I have a friend in Chiang Mai who married a Thai lady in Aus on holidays, she lived in Aus 17 years so she get 17/25 of the married rate and he get the full married rate...she looks after the money gives half to the grand kids until sparks fly.  Thing sort of get back to normal for a while hmmm.  He also owns 2 Honda Clicks never sees them.  He is an unpaid taxi driver to the grand kids, he has an older car.  There is always a good? reason that he has to and pick them in his unofficial taxi...Kids in Thailand just like those in Aus.   Aaaaah wellllll.

Edited May 25, 2018 by David Walden

[LosLobo]

21 hours ago, David Walden said:

If you are living off your super I would suggest you seek someone who knows about these things.  The house you talk about is hers on her land (yes).  This may be a good point as if you don't own a house you live in you can have $456,750 in assets and still get the Aus single full pension.  You can be the star boarder.  You can only have  $253,000 in assets if you do own a house you live in.  Assets can be a car, super or anything.  And, you are not married we all know that? and only have a casual relation with your lady friend in Thailand? yes. ( maybe 3 kids as well, don't laugh maybe it's true? lovely).  You should be looking for ways to establish your Australian residency.  If you play your card right and your assets (super and all) is under $456,750 and you have the required residency you will get the Australian pension in full and be able to keep you super down load of at least 5% per year.  And live very comfortable in Thailand.  You additional super on top of you pension will be tax free also if you are under the tax threshold.

 

There are lots of ignorant people who contribute to this site who will say I'm all BS.  Don't worry about them they never go away.  You appear to be a nice relationship with a Thai Lady (or lady boy...joke 555) there will likely be that you will have to spend some time back in Aus. to qualify for a full pension.  How you handle that may well be your biggest hurdle (you can get over hurdles, just jump!) lots to plan and think about but doable with a little pain and patients...good luck.  Mr Moojar

 

 

John please stop quoting misleading information!
  
  
If you are single and own a house or not, you cannot get the full AOP if you have financial investments of more than $157,569.
  
As from 01 January 2015 new OAP pensions will be both income and asset tested by Centrelink and the pension paid will be by the method resulting in the least benefit.
 
Income from financial investments will be determined by deeming. The current deeming rates for singles are :
 
the first $50,200 of a person's financial investments are deemed to earn income at 1.75% pa and any amount above $50,200 is deemed to earn income at 3.25% pa.

 

The cut off point for full pension is income of $168 per f/n ie $168 X 26 = $4,368 pa 
  
refer https://www.humanservices.gov.au/individuals/enablers/income-test-pensions  

[Ban Phe Dezza]

3 hours ago, David Walden said:

Yes I have a friend in Chiang Mai who married a Thai lady in Aus on holidays, she lived in Aus 17 years so she get 17/25 of the married rate and he get the full married rate...she looks after the money gives half to the grand kids until sparks fly.  Thing sort of get back to normal for a while hmmm.  He also owns 2 Honda Clicks never sees them.  He is an unpaid taxi driver to the grand kids, he has an older car.  There is always a good? reason that he has to and pick them in his unofficial taxi...Kids in Thailand just like those in Aus.   Aaaaah wellllll.

was it 17 years David ? yes same person

 

[ELVIS123456]

On 5/23/2018 at 11:00 AM, Gregster said:

3 years?! Not good to hear. Have you read this somewhere or your prediction?

 

Prediction.  But I worked there for a while (Canberra).

It is an easy way to reduce the Budget, and is politically popular with the younger generation and women.

If/when Labor gets into Govt it will happen in their 1st/2nd Budget.

 

[David Walden]

13 hours ago, LosLobo said:

John please stop quoting misleading information!
  
  
If you are single and own a house or not, you cannot get the full AOP if you have financial investments of more than $157,569.
  
As from 01 January 2015 new OAP pensions will be both income and asset tested by Centrelink and the pension paid will be by the method resulting in the least benefit.
 
Income from financial investments will be determined by deeming. The current deeming rates for singles are :
 
the first $50,200 of a person's financial investments are deemed to earn income at 1.75% pa and any amount above $50,200 is deemed to earn income at 3.25% pa.

 

The cut off point for full pension is income of $168 per f/n ie $168 X 26 = $4,368 pa 
  
refer https://www.humanservices.gov.au/individuals/enablers/income-test-pensions  

This site is about people who have retired and are paid the Aged Pension....Work Start and other Centrelink and tax  thresholds are quite different.

[David Walden]

8 hours ago, David Walden said:

This site is about people who have retired and are paid the Aged Pension....Work Start and other Centrelink and tax  thresholds are quite different.

Mr Loslobo your calculation appear to be correct...but these deductions you show only come into play after you exceed the threshold,  As a married couple (I was) I am now separated living under the same roof. (long story also).  I spend  most of my time away from our co-owned home in Thailand.  My estranged wife and I both get the single aged pension. (lots of other long stories about this situation but OK, better financially).  Going back to my co-owned home in Aus from time to time saves me money.  (another long story, W.A. is not far).

 

  When I drove the school bus for 10 years over a 13 year period before and after aged pension arrived.  It happened automatically without a word from me, just a letter from Centrelink confirming what had happened (more money, work bonus was added to the threshold extra $250 on top) so I do know there is a big improvement when you go from "work start" to the aged pension.  I believe just recently with the threshold and work start has gone from about $550 P/F to about $650 and it is available to self employed people (wasn't before), this is the threshold you get under "The work bonus", then the calculation start if you have a job ( another long story),  Yes under the pension you can have a job and earn about $650 P/F now and still get the full pension, if you have no other assets.  If you are married you also can use the tax free threshold offset of your unemployed partner and earn up to about $58,000 and pay no tax.  If you apply for the offset exemption and granted, your employer will pay you your gross earning in full and you won't have to even put in a tax return ( advise ATO of this if under the tax threshold).  You can claim the over payment back later if you do put a return in later but "A bird in the hand is worth 2 or 10 in the bush".

 

Don't get to excited about getting the work bonus if self employed.  I've been through this self employed bit during the 3 years I didn't drive the school bus.  i.e fortnightly profit and loss statement, depreciation schedules and lots of red tape, later 3 monthly profit and loss statements and then after 3 years Centrelink will accept your tax figures as your  Tax income statement.

 

  After 3 years Centrelink demanded photocopies of every statement and receipt for every transaction during the preceding years, also all bank statements and cheque butt copies of every  activity.  I trundled into our local Centrelink with the lot a big bag and had to witness the young lady photocopy them all.  When I showed her the letter from Centrelink to me demanding this action, she laughed and had some very funny comments about the requester, over the next 3 hours (got to know her well, small town, nice experience for an old man..thank you Centrelink) as she photocopied the near 3 hundred items separate.  Not only for Centrelink but for me as well.  Her copy had to be hard copy mine had to be hard copy also, an electronic copy was sent to the person who request this action.  I asked what will happen to the hard copy Centrelink kept, nearly 300 she said "they'll go in the shredder one by one, soon".  My copies just went in the bin when I got home.  The electronic copies she said "the requester will freak when they see all this and file it away for 7 years.  Talk about TIT (This Is Thailand) what, about TIAC , (This Is Australia Centrelink).  hmmmm.

 

PS ...sorry about the double posting of this item, this post is the final one.  Can't edit it away

Edited May 26, 2018 by David Walden

[Old Croc]

On ‎5‎/‎24‎/‎2018 at 1:43 PM, David Walden said:

Many public servants 20/30 years ago had to decide weather to take a lump sum on retirement or choose an indexed pension for life.  Much better if you expect to live to 100 y/o not so good if you kick the bucket 3 month after you start your indexed pension...you get nothing...sorry about that.   Yes Commonwealth Super Fund (subsidised by the Govt. nearly broke lots of times)

There were actually 3 benefit options when you retired on CSS: I took the first option.

[Depending on how you leave CSS, you may take your benefit as a:

CPI-indexed pension and lump sum or

combination of a CPI-indexed pension, non-indexed pension and lump sum or

combination of a CPI-indexed pension and non-indexed pension.]

 

In 2006 the government established a special fund to cover shortfalls in super payments:

[The purpose of the Australian Government Future Fund is to fully fund the future superannuation payments of public servants, which currently come from the federal budget.]

 

[Old Croc]

On ‎5‎/‎24‎/‎2018 at 12:45 PM, giddyup said:

I've been retired more than 10 years, can't add any money to my indexed super now.  My income in Thai Baht is around 24,000, or A$600 per week, we (my Thai lady and I) live very comfortably on that, with money actually accruing in my Aussie bank account. I buy whatever kind of food I want, enjoy a couple of bottles of red a month, new TV if I need one, run a late model pickup, own our own house etc. The only thing that could knock a hole in my income/assets would be a serious illness as I have no health cover, because of prohibitive premiums at my age.

My situation is similar to yours.  I have a CSS indexed pension, have been retired for about 15 years, lived in Thailand for 8 years and had a large sum in an Australian bank. However, with assistance from my financial advisor, I moved  that money into a managed pension fund (nothing to do with my CSS pension). This pays me a monthly sum and it is tax free. The fund has averaged between 6-7% return and has gained in overall value. I can access funds at any time if required. 

Much preferable to leaving it in a bank with low, taxed interest!

[4MyEgo]

On 5/16/2018 at 10:40 PM, kevvy said:

Go back for 2 years... And spend more money than I will get from the OAP. No thanks I am happy living here .

Worked for over 40 years and this is how they treat you.

Cool your heals as Ron19 said to someone earlier.

 

Governments create systems to frustrate people, Xpats more so as we don't contribute to the system anymore, I am another who worked and paid taxes for 40 years of my working life.

 

Whilst I am one of the fortunate ones who not only worked hard and paid my fair share of taxes, invested in property and came off trumps to live in Thailand, take me back to Sydney and it wouldn't be pretty, suffice to say I live off 60,000 baht here a month and am 10 years shy of the OAP, and from my calculations could probably live till I am 82 doing nothing with my funds, that said, I am entitled to it, and as Elvis123456 kindly did the maths, the 2 years jail sentence is worth it, as much as its an inconvenience, I will consider doing it, even if it means relocating the kids to school, 2 of them will be adults and can work and contribute to the rent while making some coin to bring back for their future, i.e. buy some land and build a house.

 

Don't allow these idiot politicians fill their pockets up with our tax dollars, get even I say !  

[giddyup]

1 minute ago, Old Croc said:

My situation is similar to yours.  I have a CSS indexed pension, have been retired for about 15 years, lived in Thailand for 8 years and had a large sum in an Australian bank. However, with assistance from my financial advisor, I moved  that money into a managed pension fund (nothing to do with my CSS pension). This pays me a monthly sum and it is tax free. The fund has averaged between 6-7% return and has gained in overall value. I can access funds at any time if required. 

Much preferable to leaving it in a bank with low, taxed interest!

Do you still receive a OAP? It would involve me going back to Oz to open a pension fund, and quite honestly I can't be bothered.

[Old Croc]

1 minute ago, giddyup said:

Do you still receive a OAP? It would involve me going back to Oz to open a pension fund, and quite honestly I can't be bothered.

Just turned 70, never applied for the OAP. Any small pension I may be eligible for is not worth the trouble. And, I don't have to deal with Clink at all!

With the right advisor you could probably do it all on the internet. I haven't had a face to face with my advisor for nearly a decade.

[giddyup]

14 minutes ago, Old Croc said:

Just turned 70, never applied for the OAP. Any small pension I may be eligible for is not worth the trouble. And, I don't have to deal with Clink at all!

With the right advisor you could probably do it all on the internet. I haven't had a face to face with my advisor for nearly a decade.

I only dealt with C'link prior to leaving Oz 8 years ago, never had any contact since, but my part OAP goes into the bank like clockwork every month. Maybe I could squeeze an extra few dollars out if I invested my capital into a super fund, but what for, I don't spend what's coming in now, and that money can be divvied up quickly to my beneficiaries when I cark it.

[4MyEgo]

On 5/21/2018 at 10:39 AM, moojar said:

 

Some things in the article I didn't know, such as: 

Quote

Australians citizens living abroad for more than five years and permanent residents living overseas for more than 12 months forfeit the right to Medicare benefits. 

This is correct, however the thing to do if you haven't done so already is to continue to receive your Medicare card before its 5 year expiry date expires.

 

Who ever sends the card out will send it to your last known address that Medicare has on record, if it is sent back, it is highly likely that it will get cancelled, however if you do as others do, me included, (but me under 5 years thus far), use the card when I return to Australia by seeing my GP, Specialists, etc etc

 

As I also have a MyGov account, I use a mates address which is also on my drivers licence, and still kept my PO Box which Medicare has the details of for mail to be sent to me as my preference, which of course is picked up by a friend monthly, that said, if they sent it to my mates address, he would let me know either way, now, I am due to go back to Australia in October, that would be the 2nd time in 3 years, and said to myself when there, I will go and tell them that I lost my card, which is due to be renewed in 2019, but I will be here, and I don't know if they would send me another as I am a foreign resident, that said, me got thinking, so I went to my MyGov account, clicked onto Medicare, scrolled through and there it was, "lost card replacement", so I clicked on it and filled in the details, a week later I asked my mate who empties my PO Box monthly to go by, he sent me a photo on LINE of my new card with the expiry date in  5 years, i.e. 2023..........too easy, so the thing is to keep it active, I know guys that have been doing this for decades, so they say as the system is not linked up yet to say you are a foreign resident.

 

But to be honest, I believe it has more to do with you being absent from Australia for more than 5 years, i.e. not returning in that period when they wipe you, that said I intend to keep going back every couple of years for a holiday....and to get my lollies on PBS........lol, why not, I have paid 40 years worth of taxes !

Edited May 26, 2018 by 4MyEgo

[giddyup]

4 minutes ago, 4MyEgo said:

This is correct, however the thing to do if you haven't done so already is to continue to receive your Medicare card before its 5 year expiry date expires.

 

Who ever sends the card out will send it to your last known address that Medicare has on record, if it is sent back, it is highly likely that it will get cancelled, however if you do as others do, me included, (but me under 5 years thus far), use the card when I return to Australia by seeing my GP, Specialists, etc etc

 

 

I have replaced my Medicare card twice since living in Thailand, by phone from Thailand both times. I have the new card sent to a mates address in Oz. I don't know what would happen if I rocked up to a hospital looking for medical treatment, would they knock me back or not? Hopefully will never have to put it to the test.

[BEVUP]

20 minutes ago, giddyup said:

I have replaced my Medicare card twice since living in Thailand, by phone from Thailand both times. I have the new card sent to a mates address in Oz. I don't know what would happen if I rocked up to a hospital looking for medical treatment, would they knock me back or not? Hopefully will never have to put it to the test.

I don't think so because your still maintaning an address in Auss

 

[4MyEgo]

50 minutes ago, giddyup said:

I have replaced my Medicare card twice since living in Thailand, by phone from Thailand both times. I have the new card sent to a mates address in Oz. I don't know what would happen if I rocked up to a hospital looking for medical treatment, would they knock me back or not? Hopefully will never have to put it to the test.

I think that if you have the card, your in with a chance, i.e. renewing it means, you have it, so your entitled to it, not renewing it, means you don't have it, don't need it and they will cancel it.

 

The reason you are getting it renewed tells me that you are still on their register, keep it up.

[4MyEgo]

On 5/21/2018 at 11:55 PM, totally thaied up said:

 

In all honesty, I feel they could get everything and over time they do. Just a marriage visa in your passport would do it.

 

I heard a long time back of a person that has been off Medicare (too long out of the country) but got expensive drugs shipped over to the Philippines (the drugs got sent to the old address and then sent over to the Philippines). The Medicare Card was invalid but somehow, it all went through. It all got caught up with in the end and way back then, they faced a pretty big payback fine for the FULL cost of drugs.

 

You cannot scam the Australian Government forever. In the end, they will find out if and when they want to.

So your saying let the Australian government scam us ?

 

Not having a dig at you, but come on, who mate up this idiot law, Australian Citizens, born in Australia and paid taxes for 40 years are being hard done by because we decide we want to retire at 55 and overseas, so to get the OAP, you have to go back to jail for 2 years because you have been a bad boy, not working and paying taxes anymore while we struggle to throw money at all these immigrants coming in and milking the system, how dare you Mr Xpat.......give me a break !

 

This is a scam, and the excuse is, oh, well years ago Europeans came and worked here and then after a certain period they left and got to take their pensions with them costing the Australian tax payer too much money annually, so we have had to clamp down by introducing this 2 year period, which no doubt will have an impact.

 

Sure it will, why the hell don't they say, to get an Australian old age pension, you have to be an Australian Citizen by birth for it to be made portable, i.e. anyone not born in Australia has to remain in Australia to get the pension, sure would put a few noses out of joint here on TVF, but fair suck of the sav, why should we true blue Ozzies cop it up the rear because Europeans took advantage of a system that was there for the taking ?

 

I won't say that I will lie, but will only provide what they require on a need to know basis, and if I have to distort the truth a little to get what I am entitled too, I will, fark the lot of them 555

 

That's my grip !

Edited May 26, 2018 by 4MyEgo

[4MyEgo]

On 5/24/2018 at 5:34 AM, David Walden said:

Working back on your pension payments as disclosed above of about $1,900 to $700 p/m. To calculate how much you have in a bank a/c.  $1,900 pension down to $700 p/m indicates you are losing $1,200 p/m in Centrelink Pension payments.  This being so suggests you have about $250,000 in a bank a/c and at least $400,000 in super as well (both assets) and no house you live in. You must be well above the asset threshold.  Your information suggest your asset level with no home to live in is about $650,000...do you have some problems with that?...poor thing.

This is what I am talking about, this guy has worked all his life and saved all his money, but is without a house, so he gets farked over, take him back to Sydney for example and he would be lucky to buy a two bedroom unit for that.

 

I suppose them, because he has a unit, i.e. there is no way he is going to by a house for that money, he will be entitled to a full pension.

 

Do you see where I am going with this?

 

Your final remarks are condescending, do I detect jealousy in the air?

[kevvy]

2 hours ago, 4MyEgo said:

Cool your heals as Ron19 said to someone earlier.

 

Governments create systems to frustrate people, Xpats more so as we don't contribute to the system anymore, I am another who worked and paid taxes for 40 years of my working life.

 

Whilst I am one of the fortunate ones who not only worked hard and paid my fair share of taxes, invested in property and came off trumps to live in Thailand, take me back to Sydney and it wouldn't be pretty, suffice to say I live off 60,000 baht here a month and am 10 years shy of the OAP, and from my calculations could probably live till I am 82 doing nothing with my funds, that said, I am entitled to it, and as Elvis123456 kindly did the maths, the 2 years jail sentence is worth it, as much as its an inconvenience, I will consider doing it, even if it means relocating the kids to school, 2 of them will be adults and can work and contribute to the rent while making some coin to bring back for their future, i.e. buy some land and build a house.

 

Don't allow these idiot politicians fill their pockets up with our tax dollars, get even I say !  

Thailand has been good to me , my wife and I build a 38 house village near rayong , which we sold out in 18 months. That set us for life . no need to go back to get the pension . And we did not make a concrete jungle , we put in a park and palm trees . I couldn't be away from my little bit of paradise here in chiang rai for 2 years.

[kevvy]

2 hours ago, 4MyEgo said:

Cool your heals as Ron19 said to someone earlier.

 

Governments create systems to frustrate people, Xpats more so as we don't contribute to the system anymore, I am another who worked and paid taxes for 40 years of my working life.

 

Whilst I am one of the fortunate ones who not only worked hard and paid my fair share of taxes, invested in property and came off trumps to live in Thailand, take me back to Sydney and it wouldn't be pretty, suffice to say I live off 60,000 baht here a month and am 10 years shy of the OAP, and from my calculations could probably live till I am 82 doing nothing with my funds, that said, I am entitled to it, and as Elvis123456 kindly did the maths, the 2 years jail sentence is worth it, as much as its an inconvenience, I will consider doing it, even if it means relocating the kids to school, 2 of them will be adults and can work and contribute to the rent while making some coin to bring back for their future, i.e. buy some land and build a house.

 

Don't allow these idiot politicians fill their pockets up with our tax dollars, get even I say !  

I am one of the lucky ones , have a great wife , good life and I am happy.

Edited May 26, 2018 by kevvy

[David Walden]

11 minutes ago, 4MyEgo said:

This is what I am talking about, this guy has worked all his life and saved all his money, but is without a house, so he gets farked over, take him back to Sydney for example and he would be lucky to buy a two bedroom unit for that.

 

I suppose them, because he has a unit, i.e. there is no way he is going to by a house for that money, he will be entitled to a full pension.

 

Do you see where I am going with this?

 

Your final remarks are condescending, do I detect jealousy in the air?

Your post is really about politics and as I said  in a previous post all political parties in Australia have the same agenda.  If you are fairly well off and saved your money for retirement you get nothing.  If you are poor spent all your money  you will receive $520 per week indexed for the rest of your life and free medical services till the end, yes to the end. In a hospice if required.  A bit less if you go and live in Thailand and no free medical.  Not fair claimed by lots but the good thing about it is if you don't choke yourself with cigarettes and alcohol you can live a OK life in Aus without poverty and the Govt. will look after you till the end of your days...all, sort of OK?...get used to it it's never gunna change.  Poor people as most pensioners are have a vote also.

 

PS...A lady friend of mine who did die at 53y/o,  She died in a hospice, much over weight smoked 30 a day maybe 1 to 2 bottles of wine each day for years, laughed a lo, made others laugh also.  3 months she was there had a party every night she was all fun, not sure about when she was alone in her bed at night.  The funeral had 500 people turn up it took over an hour for the mourners to tell all the funny stories about her life. She was a sales rep for a large food distribution company had to try all the products and for free.  "How can you tell people what it taste like if you haven't tried it yourself".  I can still hear he laugh up in the sky somewhere.  The nurses at the hospice use to joke that she was the best customer they ever had.  They would kick people out at 10 pm so the parties had to start earlier, the staff never complained and encouraged it.  The Aussie Govt didn't quite know but they paid for it all.  no one has complained.

[totally thaied up]

59 minutes ago, 4MyEgo said:

Not having a dig at you, but come on, who mate up this idiot law, Australian Citizens, born in Australia and paid taxes for 40 years are being hard done by because we decide we want to retire at 55 and overseas

 

I did not make any of the laws up (and hate them) and believe me if you knew half of what I know about portability (and I have been through the system more than most here over my getting portability), if the Government decided to pick a bone with you, you better have a very big dog with you.

 

The biggest bit of advice I can give anyone here is not to lose an Australian address.  

 

14 minutes ago, kevvy said:

Thailand has been good to me , my wife and I built a 38 house village near rayong

Congratulations! I love a great investment story like that!

 

My parents bought up big on the canal areas of the Sunshine Coast in the very late 70's/early 80s. When they sold my Grandmothers house before her death and she moved in with us, that one canal house paid for all those blocks they bought. Average block price then was around 40K - how things change.
 

Land is a great investment. My wife has some land here and with the proposed CM Airport, we are very near to it all and hope to do well with it. Looking at a sub-division in the future. Once my parents pop-off, I won't be anywhere near a pension again for the rest of my life but my old man is 80 now and my Mum 79. Grandmother was 99 when she popped off and I hope my oldies can at least get another 10 years in.

[4MyEgo]

55 minutes ago, kevvy said:

Thailand has been good to me , my wife and I build a 38 house village near rayong , which we sold out in 18 months. That set us for life . no need to go back to get the pension . And we did not make a concrete jungle , we put in a park and palm trees . I couldn't be away from my little bit of paradise here in chiang rai for 2 years.

Well done mate, and I know what you mean, me personally on the other hand have been planning, now it might well be that I transfer some funds to the Mrs a few years before hand so that I am under the $456,750 no house threshold, return to Australia 2 years earlier, go on Newstart, or work, depends on what the work is and income, the apply for divorce, i.e. is only a piece of paper.

 

Mrs can fly in a month later with the kids, I didn't know she followed me, she can rent a place, two of the 4 kids go to school, the other 2 work, we can see each other here and there, but live separately except for when we need to stay together, when the 2 years is up, get my portable pension and fly back to the bush in the LOS, wife could have left a month prior or after, "up to here", then hopefully I will continue to receive my single pension till the I cark it, no doubt the wife will be quick to tell them, or so the plan goes 555

 

She will have to because she will require a death certificate to be able to claim the life insurance, and for those who haven't mentioned the word "death certificate" to their Mrs, DO IT, mine was just going to cremate me, without the death certificate, I said, you would probably be up <deleted> creek if that happened 555 

Edited May 26, 2018 by 4MyEgo

[4MyEgo]

On 5/25/2018 at 3:05 PM, LosLobo said:

John please stop quoting misleading information!
  
  
If you are single and own a house or not, you cannot get the full AOP if you have financial investments of more than $157,569.
  
As from 01 January 2015 new OAP pensions will be both income and asset tested by Centrelink and the pension paid will be by the method resulting in the least benefit.
 
Income from financial investments will be determined by deeming. The current deeming rates for singles are :
 
the first $50,200 of a person's financial investments are deemed to earn income at 1.75% pa and any amount above $50,200 is deemed to earn income at 3.25% pa.

 

The cut off point for full pension is income of $168 per f/n ie $168 X 26 = $4,368 pa 
  
refer https://www.humanservices.gov.au/individuals/enablers/income-test-pensions  

Others have said a few things bout your post Loslobo, I think you should be careful that you don't misquote as you have above, the ASSET threshold for a single bloke going on the old age pension is $456,750 if he doesn't own a house.

 

I believe what you are talking about is WORKING threshold, two totally separate things, maybe you will learn a thing or two here, as we all have, but careful when quoting to back it up with the correct website, as I have done below for your perusal. 

 

https://www.humanservices.gov.au/individuals/enablers/assets/30621#assetstestlimits

 

Full pension

From 20 March  2018, pensions reduce when your assets are more than the amounts below.

If you're	Homeowner	Non-homeowner
Single	$253,750	$456,750
A couple, combined	$380,500	$583,500
A couple, separated due to illness, combined	$380,500	$583,500
A couple, 1 partner eligible, combined	$380,500	$583,500