52 yo Australian retired what to do

[theguyfromanotherforum]

I was married to an Aussie girl from Camden. It was the most enjoyable sex I ever had. Nothing came close after that.

[mcfish]

I havent read the rest , but you do NOT have to be a "Non-resident for taxation purposes" !

You are only that if YOU nominate to be so , and dont let any accountant tell you otherwise.

( Thus you pay 'normal' tax - and will/may be eligible for a pension )

Simply ALWAYS state you are on extended vacation on any Aus documentation , never ever admit you are Living O/S , and make yearly or 2 visits home , and maintain a permanent address at a friends or kids place.

No one can 'make' you be a non-resident or stop 'holidaying' , as long as you maintain thats what you are doing.

I have been doing this here for 8 years .

Dont know what the others have rec'd re the missus and biz - just dont outlay precious capital on things you cant own !

Get to know lots of people , and small jobs will fall into her hands.

Mine does laundry , cleans villas and is a casual in a restaurant - all work thats up to her and all the cash she keeps....

Finally : DO NOT BUY A HOUSE !!

2 points Firstly foreigners can't buy a house. Secondly anyone using your method of returning for short periods to Oz thinking their residancy is protected will be in shock when applying for a pension, they will get tripped up 100‰

Next shock will be Medicare

Sent from my SC-01D using Tapatalk

[docshock13]

I was married to an Aussie girl from Camden. It was the most enjoyable sex I ever had. Nothing came close after that.

AussiegirlfromCamden posts: "I was married to the guy from another forum. Least enjoyable sex I ever had. Could not let another man close to me after that. I am now a lesbian."

Hee hee

[Mansell]

You have been given a lot of good advice here which I hope you listen to.....but one thing bothered me about what you said....it was something about you "having an impression on your Oz pension plan" an impression!!!! In my opinion that isn't good enough, why would you only have an impression.....this is something you should have researched and done your due diligence, not just an impression. This tells me you should stay away from all investment schemes etc, and playing the stock market is the last thing you should be doing without many many hours of research....otherwise kiss goodbye to your money. Having an "impression" about any business venture is a recipe for disaster. Try just being happy with the money you have and don't look for any "get rich or poor schemes" to screw up your life. Good luck.

[theguyfromanotherforum]

I was married to an Aussie girl from Camden. It was the most enjoyable sex I ever had. Nothing came close after that.

AussiegirlfromCamden posts: "I was married to the guy from another forum. Least enjoyable sex I ever had. Could not let another man close to me after that. I am now a lesbian."

Hee hee

Funny thing that's exactly what she said after the divorce.

[fiddlehead]

Just an idea for you: How about a water testing service.

Small storefront where people bring in their water and you provide a test 2-3 days later.

I would be a customer (once anyway)

What sort of water would u test? Peoples tap water, bottled water, bore water? Interested but not sure who would need that service?

If I had a business like this, I would test anyone's water that brought it into the shop.

Whether that was to see how much iron was in it, bacteria, radon, hardness, sulfates, ph, etc etc etc.

UP to the homeowner, and what they want.

I used to do carpentry work for a guy back in the states that ran a small shop that did this.

He had a beautiful house and seemed to be living well.

My sister just took a sample into him again last year as her and her husband wanted to compare it to a test they did 15 years ago to see if anything changed.

He charged for different things:

Bacteria: $15

Minerals: $15 more

The others, I'm not sure of his prices but that's what I remember she wanted it tested for.

Just seems to me there's a need for it here as some people drink their water, others refuse to even brush their teeth with it.

Maybe they would just like to know.

Just my opinion of course.

If you don't care about your water quality, then don't get it checked.

[Kenny202]

Just an idea for you: How about a water testing service.

Small storefront where people bring in their water and you provide a test 2-3 days later.

I would be a customer (once anyway)

What sort of water would u test? Peoples tap water, bottled water, bore water? Interested but not sure who would need that service?

If I had a business like this, I would test anyone's water that brought it into the shop.

Whether that was to see how much iron was in it, bacteria, radon, hardness, sulfates, ph, etc etc etc.

UP to the homeowner, and what they want.

I used to do carpentry work for a guy back in the states that ran a small shop that did this.

He had a beautiful house and seemed to be living well.

My sister just took a sample into him again last year as her and her husband wanted to compare it to a test they did 15 years ago to see if anything changed.

He charged for different things:

Bacteria: $15

Minerals: $15 more

The others, I'm not sure of his prices but that's what I remember she wanted it tested for.

Just seems to me there's a need for it here as some people drink their water, others refuse to even brush their teeth with it.

Maybe they would just like to know.

Just my opinion of course.

If you don't care about your water quality, then don't get it checked.

Why I asked was that we get bottled water to drink and I'm not gonna run down and get every bottle tested. Even if I was going to drink our tap water and have it checked today it could cage overnight. I could see a need to test maybe large tanks?

[georgemandm]

You guys can't be serious, dead end business ideas, tell them too get a job, they would of had one before you showed up time they went out and got another one, why the hell you offering a free ride for?

Did your ex Aussie wife sit at some road side selling pork ribs? If she was like my ex she had a decent job earned a decent income and helped run the house.

Well a lot of what you say is true and if I had my time over again I may have chosen more wisely....but back to the point. It simple mathematics. If she got a job she'd be lucky to make 15k a month. A well run business should net a lot more...in theory

You are joking , do you think thai small businesses make lots of money I think not , just look how many you see in thailand that will tell you .

[mydee]

Kenny,

You can withdraw your super in full once 55 in Aus if your leaving for good. Then nothing else stopping you from applying for a pension on correct age. It depends on for many years you have work in Aus. Would stay away from any business in Thailand.

Stock market can be good or bad. It is an open gamble. Currency fluctuations also play a big part!

Wrong and misleading. I don't normally comment on a lot of stupid comments about retirement on Thaivisa, but when it could cost someone lots of money I feel obliged to correct this ignorance.

The OP stated that he was born in 1963.so he would have to wait until he was at least 58 or 59 before he could access his super. Permanent Australian residents can withdraw you superannuation in Australia when you have reached your preservation age and retire. Where you decide to retire to, apart from New Zealand is irrelevant for accessing your benefit. Your preservation age is 55 if you were born before before 1 July 1960 and phases in over five years until the preservation age is 60 for Australians born on or after 1 July 1965. Note we are talking about the OP's accumulated employer and private super NOT the old age pension which is paid by the Government to those who haven't contributed to their own retirement. Access to the old age pension is a different issue again the age at which you can receive the pension has been raised, depending on your date of birth.

Of course it may be in your interests to keep the money in the superannuation fund and draw down as you need it. Firstly it is still maintained in Australia and likely to earn a lot more that bank interest without the inherent risks of investing directly in equities. You can set the risk level with which you are comfortable.

I won't comment on the tax situation but you really should seek advice on your residential status and the tax implications

I hope this helps you I know it is a bit off topic but it might make you rethink your desire to be an entrepreneur in Thailand

Edited March 12, 2016 by mydee

[Global Guy]

A few tidbits on your post.

Don't try day trading if you're not familiar with the stock market, given the financial situation you presented. You could invest with other traders who do well, like on etoro, for example. Or you can link with forex traders on other sites and they trade for you. But if you're not an experienced investor, I would advise against those.

Edited March 12, 2016 by Global Guy

[scorecard]

Better to supply the people already with stalls,

Than sell all day from a stall yourself.

I bough mine a freezer (7k).

She imports frozen moo ping (pork barbecue on sticks) from a factory in BK, and distributes to the roadside sellers nearby, for them to cook and sell.

The factory send her the moo ping on credit, she pays after she sells (about 10k a shipment).

Can't see her making much (if any), but she already paid me 1k back, and it's handy to have a freezer.

(and it fits in around her university attendance)

This is very much case by case.

Some years back the Thai wife of one of my farang acquaintances had a good professional position but it came with responsibility to solve numerous complex problems every day which occupied a lot of extra hours but did have a good salary.

His wife got tired of the never ending problems to be solved and she wanted to change her work situation to something quite different, in fact she had often dreamed of having a food cart. But she also realized she needed more challenge than just operating one food cart.

The wife wrote a simple but focused long term business plan to within 3 (3?) years run 10 food carts at researched good locations, with a central buying operation and making a certain stated revenue and margin.

Her plan was realistic and she achieved her plan. Moving forward, from my knowledge the overall daily profit, after all expenses from the 10 carts was around 20,000Baht (per day).

Ultimately she built a sizeable fund for better education for her kids, and ultimately the family (including the children after their education, 2 finished their MBA) built a successful restaurant chain now well know in Thailand.

[Kenny202]

You guys can't be serious, dead end business ideas, tell them too get a job, they would of had one before you showed up time they went out and got another one, why the hell you offering a free ride for?

Did your ex Aussie wife sit at some road side selling pork ribs? If she was like my ex she had a decent job earned a decent income and helped run the house.

Well a lot of what you say is true and if I had my time over again I may have chosen more wisely....but back to the point. It simple mathematics. If she got a job she'd be lucky to make 15k a month. A well run business should net a lot more...in theory

You are joking , do you think thai small businesses make lots of money I think not , just look how many you see in thailand that will tell you .

look I'm not stupid and not about to sink big dollars into a hopeless cause. We live in Khon Kaen and the population here are mainly middle upper class educated people and there are definitely business opportunities and lots of money around. I'd agree if we were looking to do something in a village area

[Kenny202]

Well, its the old joke about how to make a small fortune in Thailand - start with a large fortune!

My experience of watch foreigners attempt business in Thailand is that it invariably ends in tears. If you want something for your wife to do as a 'pastime' then fair enough - you may be able to get her into something where she can break even or make a bit of 'pin money'. I would avoid any large investment at all costs because seen too many guys lose everything (or lose enough to make life miserable).

One guy who arrived in rural Isaan about two years ago set himself up in farming (all in his wife's name, of course) - lovely bloke. She is a nice enough girl, but half his age and obviously getting bored with him and farm work - the relationship is going south and probably at least 2 mill THB in her name (house, farm building, land)...

Of course if YOU work then there might well be work permit issues - you just need to upset the right person. I definitely wouldn't get into money lending. A good way to make enemies - so dangerous from a variety of perspectives.

I agree on the money lending. Yeah i can see a good dollar on it but would give me the shts listening to sob stories all day. The government is cracking down on it all now. You see the "victims" on TV every night and now the borrowers are empowered and justified in their minds not to repay loans. I don't know how enforceable promise notes for land (most don't have chanote) or assets are either. You would certainly need a couple of collection goons and if u ran a business like that in the area you live you'd be the biggest bstrd in the world! Don't need the grief

[Kenny202]

Hi Kenny,

Do not know how much money you have, but, there are stilol good investments to be made that are as safe asw possible in a troubled world.

$AUD500,000 invested today with (XXXXXX) will increase by 117% in 9 years. So your money will be $1085,000 at the end of term Guaranteed.

http://bit.ly/1XjMlQb will take you to the "expat" site. There you can do your own research if you want to.

NOTE: I have NO affiliation with the site in ANY way, it is simply my own research.

Kenny, I know a fair bit about the OZ pension.

The Abbott gov changed the "eligibility" from 25 yrs to 35 yrs. There are too many variables to say who is eligible. SO I will give a simple example.

• Thai girl marries OZ man at age 18. Becomes an Aussie when she is twenty. Works for Gov as an interpretor until she is 67. Picks up her Super, applies for (and gets) her pension. Retires to Thailand with a "few" hundred thousand AUD in the bank and a FULLY indexed pension for life.
• Aussie "dude" goes on dole at age 18 and stays on dole all his life. At age 67 he transfers to Aged Pension. Has no cash, but has FULLY indexed pension anywhere in the world - for life.

What this means is:- After you have been eligible for a pension for 35 years or longer, you will continue to get a FULL indexed pension, no matter where in the world you live - for the remainder of your life.

Doom-sayers will tell you all sorts of stories... Get the facts - not hard. NEVER TELL A LIE... The consequences are terrible for those that try to lie & cheat.

Getting your pension in Thailand. You have told no lies right?? So tell them you live here. Tell them you want your pension transferred here. It will be sent MONTHLY via the Reserve Bank at the "INTERBANK" rate. As I type the interbank rate is $AUD1.00 = B25.5027. That is the rate you get deposited in your bank account.

The one fly in the ointment for your circumstances Kenny is that you MUST live in OZ for two years before you can apply for your pension.

Good Luck Mate.

Problem is, for me to go back and live in Australia 2 years to qualify for the pension, would cost me the same as it would to live in Thailand 10 years! Am I right in my qualifying age for the pension is 67? (Born May 1963).

I guess it's a moot point anyway. Lot can happen between now and then.

[soc]

Kenny,

You can withdraw your super in full once 55 in Aus if your leaving for good. Then nothing else stopping you from applying for a pension on correct age. It depends on for many years you have work in Aus. Would stay away from any business in Thailand.

Stock market can be good or bad. It is an open gamble. Currency fluctuations also play a big part!

I I knew I could withdraw at 55 but I thought you had to pay some tax if you did? I'm under the impression after 60 you withdraw your funds tax free. I hope I'm right!

That is correct.

l stopped working at 66 yo & began getting a pension(my own money!)tax free from my super.

My accountant told me that l would pay no tax on withdrawals after 60.

The extra 6 years that l worked, l still contributed to my super but paid only 15% tax on the contributions.

That is until the govt moves the goalposts again!

[Kenny202]

I'm an Australian, aged 57, living in Kosum Phisai, about 40 km east of Khon Kaen. Like you, I am retired and sometimes get a little nervous about the prospects of living on a fixed income for the rest of my life, and at the mercy of the Australian government's taxation policy, poor exchange rates and uncertain stock markets.

I've tried the teaching gig, but couldn't really handle going back to full time work in Thailand. The extra money came in handy, but I didn't plan on retiring just to work full time again. I can still pick up the odd casual job teaching at a hospital, or elsewhere, for half a day here or there. But the money is not much.

To be honest, I think you are better off thinking about how to enjoy your time, while minimising how much you need to spend each month (e.g. budgeting). If you can find some hobbies you enjoy then the time passes quickly. I wouldn't focus too much on helping the wife start a small business. She (like my wife) is unlikely to work hard enough at it to make it a success. It can be done, but she'll have to work a good 10 hours a day and make sacrifices in her own personal social life. It's not going to happen because you already have a comfortable income.

For me, I wanted to get away from working in the office for 30 years and so built a house and have a bit of a hobby farm. It is not an investment given we would be unlikely to make a profit if we sold. But this is what I want to do with the next 10 years or so of my life. As a kid I used to dream about having my own land, dams, fish, exotic pets, living off the land and so on. Well now I can do it.

It's probably all in the mental attitude whether you retire in Thailand or Australia. This is the next phase in life and you are entitled to slow down life a bit and take it easy. Find a routine to keep your mind and body fit. That is your new job and new life. Make sure you have a decent computer/internet connection and you can torrent all those Aussie series you might miss. Make an effort to find and visit the farangs around your immediate neighbourhood in case their is someone you click with.

My life would become difficult if my superannuation stream was taxed at the overseas resident rate. All you can do is maintain an Australian mailing address and hope for the best. As suggested by someone else, an allocated pension is the way to go when your Super becomes available. You must withdraw a minimum 4% a year income stream, but it is all tax free. You can also withdraw any part of the capital at any time if you want.

I took most of my Super as a fixed indexed pension and put about 25% into an allocated pension. In retrospect, I should have transferred all of it into an allocated pension. That would of given me a 30% higher income (no tax and no need to put in a yearly tax return) and no financial worries about living overseas. The only drawback is that the allocated pension is dependent upon the stock market for its returns , however, you are pretty safe if you look at it as a long term investment.

Anyway, best wishes.

thanks mate. You talk about super and allocated pensions and tax free. Not sure what you mean? I assumed at 60 when eligible to draw out your super (partially or fully) it was tax free or are you saying you are earning interest from an allocated pension tax free?

By the way...could I invest my money (not super) in an allocated pension now at 52 yo? How do these work?

[manfredtillmann]

I'm an Australian, aged 57, living in Kosum Phisai, about 40 km east of Khon Kaen. Like you, I am retired and sometimes get a little nervous about the prospects of living on a fixed income for the rest of my life, and at the mercy of the Australian government's taxation policy, poor exchange rates and uncertain stock markets.

I've tried the teaching gig, but couldn't really handle going back to full time work in Thailand. The extra money came in handy, but I didn't plan on retiring just to work full time again. I can still pick up the odd casual job teaching at a hospital, or elsewhere, for half a day here or there. But the money is not much.

To be honest, I think you are better off thinking about how to enjoy your time, while minimising how much you need to spend each month (e.g. budgeting). If you can find some hobbies you enjoy then the time passes quickly. I wouldn't focus too much on helping the wife start a small business. She (like my wife) is unlikely to work hard enough at it to make it a success. It can be done, but she'll have to work a good 10 hours a day and make sacrifices in her own personal social life. It's not going to happen because you already have a comfortable income.

For me, I wanted to get away from working in the office for 30 years and so built a house and have a bit of a hobby farm. It is not an investment given we would be unlikely to make a profit if we sold. But this is what I want to do with the next 10 years or so of my life. As a kid I used to dream about having my own land, dams, fish, exotic pets, living off the land and so on. Well now I can do it.

It's probably all in the mental attitude whether you retire in Thailand or Australia. This is the next phase in life and you are entitled to slow down life a bit and take it easy. Find a routine to keep your mind and body fit. That is your new job and new life. Make sure you have a decent computer/internet connection and you can torrent all those Aussie series you might miss. Make an effort to find and visit the farangs around your immediate neighbourhood in case their is someone you click with.

My life would become difficult if my superannuation stream was taxed at the overseas resident rate. All you can do is maintain an Australian mailing address and hope for the best. As suggested by someone else, an allocated pension is the way to go when your Super becomes available. You must withdraw a minimum 4% a year income stream, but it is all tax free. You can also withdraw any part of the capital at any time if you want.

I took most of my Super as a fixed indexed pension and put about 25% into an allocated pension. In retrospect, I should have transferred all of it into an allocated pension. That would of given me a 30% higher income (no tax and no need to put in a yearly tax return) and no financial worries about living overseas. The only drawback is that the allocated pension is dependent upon the stock market for its returns , however, you are pretty safe if you look at it as a long term investment.

Anyway, best wishes.

thanks mate. You talk about super and allocated pensions and tax free. Not sure what you mean? I assumed at 60 when eligible to draw out your super (partially or fully) it was tax free or are you saying you are earning interest from an allocated pension tax free?

By the way...could I invest my money (not super) in an allocated pension now at 52 yo? How do these work?

why would you? subject to random government changes, would you know what you invest in?

in retrospect, if you had 'invested' your money in residential real estate in oz capital cities you would have been some ???% (200) better off than relying on super.

[GreasyFingers]

I'm an Australian, aged 57, living in Kosum Phisai, about 40 km east of Khon Kaen. Like you, I am retired and sometimes get a little nervous about the prospects of living on a fixed income for the rest of my life, and at the mercy of the Australian government's taxation policy, poor exchange rates and uncertain stock markets.

I've tried the teaching gig, but couldn't really handle going back to full time work in Thailand. The extra money came in handy, but I didn't plan on retiring just to work full time again. I can still pick up the odd casual job teaching at a hospital, or elsewhere, for half a day here or there. But the money is not much.

To be honest, I think you are better off thinking about how to enjoy your time, while minimising how much you need to spend each month (e.g. budgeting). If you can find some hobbies you enjoy then the time passes quickly. I wouldn't focus too much on helping the wife start a small business. She (like my wife) is unlikely to work hard enough at it to make it a success. It can be done, but she'll have to work a good 10 hours a day and make sacrifices in her own personal social life. It's not going to happen because you already have a comfortable income.

For me, I wanted to get away from working in the office for 30 years and so built a house and have a bit of a hobby farm. It is not an investment given we would be unlikely to make a profit if we sold. But this is what I want to do with the next 10 years or so of my life. As a kid I used to dream about having my own land, dams, fish, exotic pets, living off the land and so on. Well now I can do it.

It's probably all in the mental attitude whether you retire in Thailand or Australia. This is the next phase in life and you are entitled to slow down life a bit and take it easy. Find a routine to keep your mind and body fit. That is your new job and new life. Make sure you have a decent computer/internet connection and you can torrent all those Aussie series you might miss. Make an effort to find and visit the farangs around your immediate neighbourhood in case their is someone you click with.

My life would become difficult if my superannuation stream was taxed at the overseas resident rate. All you can do is maintain an Australian mailing address and hope for the best. As suggested by someone else, an allocated pension is the way to go when your Super becomes available. You must withdraw a minimum 4% a year income stream, but it is all tax free. You can also withdraw any part of the capital at any time if you want.

I took most of my Super as a fixed indexed pension and put about 25% into an allocated pension. In retrospect, I should have transferred all of it into an allocated pension. That would of given me a 30% higher income (no tax and no need to put in a yearly tax return) and no financial worries about living overseas. The only drawback is that the allocated pension is dependent upon the stock market for its returns , however, you are pretty safe if you look at it as a long term investment.

Anyway, best wishes.

thanks mate. You talk about super and allocated pensions and tax free. Not sure what you mean? I assumed at 60 when eligible to draw out your super (partially or fully) it was tax free or are you saying you are earning interest from an allocated pension tax free?

By the way...could I invest my money (not super) in an allocated pension now at 52 yo? How do these work?

Kenny, I have just been through the age pension application and 3 reviews. I was 65 when I applied but had spent most of the previous 2 years here. Had no chance of getting the pension as I was deemed a "non resident" even though I still pay tax and all of my assets are in oz. I can give you the part of the Act that they use if you want to check yourself. It could also depend who does you initial assessment as I know of another aussie that will get it when he turns 65 but he "knows" someone in Centrelink.

If you can prove that you a permanently residing in oz you will be eligible for the pension - if not - no.

With regards to your super I was able to get a Transition to Retirement Pension (from my super fund) at age 55. The amount that you can take out each year is limited. The keep changing the limits but somewhere between 2% - 6% each year.

If you are sending money over from oz have a look at OFX. They will give you a set rate as soon as you accept their quote. It is much better than the bank exchange rates here and even better than exchanging cash. They have no fee for transfers over $10000 but the banks here will hit you hard.

[manfredtillmann]

I'm an Australian, aged 57, living in Kosum Phisai, about 40 km east of Khon Kaen. Like you, I am retired and sometimes get a little nervous about the prospects of living on a fixed income for the rest of my life, and at the mercy of the Australian government's taxation policy, poor exchange rates and uncertain stock markets.

I've tried the teaching gig, but couldn't really handle going back to full time work in Thailand. The extra money came in handy, but I didn't plan on retiring just to work full time again. I can still pick up the odd casual job teaching at a hospital, or elsewhere, for half a day here or there. But the money is not much.

To be honest, I think you are better off thinking about how to enjoy your time, while minimising how much you need to spend each month (e.g. budgeting). If you can find some hobbies you enjoy then the time passes quickly. I wouldn't focus too much on helping the wife start a small business. She (like my wife) is unlikely to work hard enough at it to make it a success. It can be done, but she'll have to work a good 10 hours a day and make sacrifices in her own personal social life. It's not going to happen because you already have a comfortable income.

For me, I wanted to get away from working in the office for 30 years and so built a house and have a bit of a hobby farm. It is not an investment given we would be unlikely to make a profit if we sold. But this is what I want to do with the next 10 years or so of my life. As a kid I used to dream about having my own land, dams, fish, exotic pets, living off the land and so on. Well now I can do it.

It's probably all in the mental attitude whether you retire in Thailand or Australia. This is the next phase in life and you are entitled to slow down life a bit and take it easy. Find a routine to keep your mind and body fit. That is your new job and new life. Make sure you have a decent computer/internet connection and you can torrent all those Aussie series you might miss. Make an effort to find and visit the farangs around your immediate neighbourhood in case their is someone you click with.

My life would become difficult if my superannuation stream was taxed at the overseas resident rate. All you can do is maintain an Australian mailing address and hope for the best. As suggested by someone else, an allocated pension is the way to go when your Super becomes available. You must withdraw a minimum 4% a year income stream, but it is all tax free. You can also withdraw any part of the capital at any time if you want.

I took most of my Super as a fixed indexed pension and put about 25% into an allocated pension. In retrospect, I should have transferred all of it into an allocated pension. That would of given me a 30% higher income (no tax and no need to put in a yearly tax return) and no financial worries about living overseas. The only drawback is that the allocated pension is dependent upon the stock market for its returns , however, you are pretty safe if you look at it as a long term investment.

Anyway, best wishes.

thanks mate. You talk about super and allocated pensions and tax free. Not sure what you mean? I assumed at 60 when eligible to draw out your super (partially or fully) it was tax free or are you saying you are earning interest from an allocated pension tax free?

By the way...could I invest my money (not super) in an allocated pension now at 52 yo? How do these work?

Kenny, I have just been through the age pension application and 3 reviews. I was 65 when I applied but had spent most of the previous 2 years here. Had no chance of getting the pension as I was deemed a "non resident" even though I still pay tax and all of my assets are in oz. I can give you the part of the Act that they use if you want to check yourself. It could also depend who does you initial assessment as I know of another aussie that will get it when he turns 65 but he "knows" someone in Centrelink.

If you can prove that you a permanently residing in oz you will be eligible for the pension - if not - no.

With regards to your super I was able to get a Transition to Retirement Pension (from my super fund) at age 55. The amount that you can take out each year is limited. The keep changing the limits but somewhere between 2% - 6% each year.

If you are sending money over from oz have a look at OFX. They will give you a set rate as soon as you accept their quote. It is much better than the bank exchange rates here and even better than exchanging cash. They have no fee for transfers over $10000 but the banks here will hit you hard.

agree with all, but try 'transferwise.com' instead.

[Kenny202]

I'm an Australian, aged 57, living in Kosum Phisai, about 40 km east of Khon Kaen. Like you, I am retired and sometimes get a little nervous about the prospects of living on a fixed income for the rest of my life, and at the mercy of the Australian government's taxation policy, poor exchange rates and uncertain stock markets.

I've tried the teaching gig, but couldn't really handle going back to full time work in Thailand. The extra money came in handy, but I didn't plan on retiring just to work full time again. I can still pick up the odd casual job teaching at a hospital, or elsewhere, for half a day here or there. But the money is not much.

To be honest, I think you are better off thinking about how to enjoy your time, while minimising how much you need to spend each month (e.g. budgeting). If you can find some hobbies you enjoy then the time passes quickly. I wouldn't focus too much on helping the wife start a small business. She (like my wife) is unlikely to work hard enough at it to make it a success. It can be done, but she'll have to work a good 10 hours a day and make sacrifices in her own personal social life. It's not going to happen because you already have a comfortable income.

For me, I wanted to get away from working in the office for 30 years and so built a house and have a bit of a hobby farm. It is not an investment given we would be unlikely to make a profit if we sold. But this is what I want to do with the next 10 years or so of my life. As a kid I used to dream about having my own land, dams, fish, exotic pets, living off the land and so on. Well now I can do it.

It's probably all in the mental attitude whether you retire in Thailand or Australia. This is the next phase in life and you are entitled to slow down life a bit and take it easy. Find a routine to keep your mind and body fit. That is your new job and new life. Make sure you have a decent computer/internet connection and you can torrent all those Aussie series you might miss. Make an effort to find and visit the farangs around your immediate neighbourhood in case their is someone you click with.

My life would become difficult if my superannuation stream was taxed at the overseas resident rate. All you can do is maintain an Australian mailing address and hope for the best. As suggested by someone else, an allocated pension is the way to go when your Super becomes available. You must withdraw a minimum 4% a year income stream, but it is all tax free. You can also withdraw any part of the capital at any time if you want.

I took most of my Super as a fixed indexed pension and put about 25% into an allocated pension. In retrospect, I should have transferred all of it into an allocated pension. That would of given me a 30% higher income (no tax and no need to put in a yearly tax return) and no financial worries about living overseas. The only drawback is that the allocated pension is dependent upon the stock market for its returns , however, you are pretty safe if you look at it as a long term investment

Anyway, best wishes.

thanks mate. You talk about super and allocated pensions and tax free. Not sure what you mean? I assumed at 60 when eligible to draw out your super (partially or fully) it was tax free or are you saying you are earning interest from an allocated pension tax free?

By the way...could I invest my money (not super) in an allocated pension now at 52 yo? How do these work?

why would you? subject to random government changes, would you know what you invest in?

in retrospect, if you had 'invested' your money in residential real estate in oz capital cities you would have been some ???% (200) better off than relying on super.

Ive heard all the stories of windfalls in real estate in Australia and as a home owner there for 30 years I never saw even a decent return on investment let alone a windfall. Thats without taking into account capital improvements, rates etc. Recently sold a nice home I owned in Brisbane for 10 years. Beautiful bayside area, really nicely presented large home. I would have been lucky to have netted 2% growth a year on the final price. If you said inner city I'd agree but the burbs don't cut it. Still psses me off the sale price I got for my place

[Kenny202]

I'm an Australian, aged 57, living in Kosum Phisai, about 40 km east of Khon Kaen. Like you, I am retired and sometimes get a little nervous about the prospects of living on a fixed income for the rest of my life, and at the mercy of the Australian government's taxation policy, poor exchange rates and uncertain stock markets.

I've tried the teaching gig, but couldn't really handle going back to full time work in Thailand. The extra money came in handy, but I didn't plan on retiring just to work full time again. I can still pick up the odd casual job teaching at a hospital, or elsewhere, for half a day here or there. But the money is not much.

To be honest, I think you are better off thinking about how to enjoy your time, while minimising how much you need to spend each month (e.g. budgeting). If you can find some hobbies you enjoy then the time passes quickly. I wouldn't focus too much on helping the wife start a small business. She (like my wife) is unlikely to work hard enough at it to make it a success. It can be done, but she'll have to work a good 10 hours a day and make sacrifices in her own personal social life. It's not going to happen because you already have a comfortable income.

For me, I wanted to get away from working in the office for 30 years and so built a house and have a bit of a hobby farm. It is not an investment given we would be unlikely to make a profit if we sold. But this is what I want to do with the next 10 years or so of my life. As a kid I used to dream about having my own land, dams, fish, exotic pets, living off the land and so on. Well now I can do it.

It's probably all in the mental attitude whether you retire in Thailand or Australia. This is the next phase in life and you are entitled to slow down life a bit and take it easy. Find a routine to keep your mind and body fit. That is your new job and new life. Make sure you have a decent computer/internet connection and you can torrent all those Aussie series you might miss. Make an effort to find and visit the farangs around your immediate neighbourhood in case their is someone you click with.

My life would become difficult if my superannuation stream was taxed at the overseas resident rate. All you can do is maintain an Australian mailing address and hope for the best. As suggested by someone else, an allocated pension is the way to go when your Super becomes available. You must withdraw a minimum 4% a year income stream, but it is all tax free. You can also withdraw any part of the capital at any time if you want.

I took most of my Super as a fixed indexed pension and put about 25% into an allocated pension. In retrospect, I should have transferred all of it into an allocated pension. That would of given me a 30% higher income (no tax and no need to put in a yearly tax return) and no financial worries about living overseas. The only drawback is that the allocated pension is dependent upon the stock market for its returns , however, you are pretty safe if you look at it as a long term investment.

Anyway, best wishes.

thanks mate. You talk about super and allocated pensions and tax free. Not sure what you mean? I assumed at 60 when eligible to draw out your super (partially or fully) it was tax free or are you saying you are earning interest from an allocated pension tax free?

By the way...could I invest my money (not super) in an allocated pension now at 52 yo? How do these work?

Kenny, I have just been through the age pension application and 3 reviews. I was 65 when I applied but had spent most of the previous 2 years here. Had no chance of getting the pension as I was deemed a "non resident" even though I still pay tax and all of my assets are in oz. I can give you the part of the Act that they use if you want to check yourself. It could also depend who does you initial assessment as I know of another aussie that will get it when he turns 65 but he "knows" someone in Centrelink.

If you can prove that you a permanently residing in oz you will be eligible for the pension - if not - no.

With regards to your super I was able to get a Transition to Retirement Pension (from my super fund) at age 55. The amount that you can take out each year is limited. The keep changing the limits but somewhere between 2% - 6% each year.

If you are sending money over from oz have a look at OFX. They will give you a set rate as soon as you accept their quote. It is much better than the bank exchange rates here and even better than exchanging cash. They have no fee for transfers over $10000 but the banks here will hit you hard.

Yes thats where it gets all muddy and it appears applying for a pension in Australia is like applying for a license here. Depends on the office and particular person you deal with. I have read so many different accounts of things on TV and I assume everyone is tlling the truth just had different outcomes. I really don't see how they can dispute your residency though if you have lived back in OZ for 2 years? That is their requirement as I believe and I have a letter from them somewhere stating exactly that when I enquired 6 months ago. Are you talking about actually getting the pension or getting portability ie sent to another country? I thought if you worked the required amount of years and no matter how long you were away for you could go back tomorrow and get a pension?

As far as transferring money here goes I dod the Oz forex thing a couple of times and whilst I was happy with knowing the locked in rate they pssed me around a few times. I transferred around $30k here to buy a pick up. A simple transaction I thought. Ended up taking nearly 2 weeks and was embarassing to me as I put the rush on the dealership, they came through and I didn't have the funds to pick up the vehicle. Was a lot of mucking around and wishy washy excuses and stress (I thought I'd been scammed!) for a week or so until I got onto someone who explained they needed all sorts of documentation to prove I wasn't money laundering etc. Was a nightmare actually and I thought handled very unprofessionally. Was like someone was running the busness from their garage. Their website was awful at the time too. Now I simply transfer the funds directly from my Commonwealth account in AUS$ to my Bangkok bank account who automatically do the conversion. I was uncomfortable at first not knowing the ex rate before transferring but they never take more than 0.3 baht or so. Always surprised at how good the rate is when the money goes in.

Edited March 12, 2016 by Kenny202

[GreasyFingers]

I'm an Australian, aged 57, living in Kosum Phisai, about 40 km east of Khon Kaen. Like you, I am retired and sometimes get a little nervous about the prospects of living on a fixed income for the rest of my life, and at the mercy of the Australian government's taxation policy, poor exchange rates and uncertain stock markets.

I've tried the teaching gig, but couldn't really handle going back to full time work in Thailand. The extra money came in handy, but I didn't plan on retiring just to work full time again. I can still pick up the odd casual job teaching at a hospital, or elsewhere, for half a day here or there. But the money is not much.

To be honest, I think you are better off thinking about how to enjoy your time, while minimising how much you need to spend each month (e.g. budgeting). If you can find some hobbies you enjoy then the time passes quickly. I wouldn't focus too much on helping the wife start a small business. She (like my wife) is unlikely to work hard enough at it to make it a success. It can be done, but she'll have to work a good 10 hours a day and make sacrifices in her own personal social life. It's not going to happen because you already have a comfortable income.

For me, I wanted to get away from working in the office for 30 years and so built a house and have a bit of a hobby farm. It is not an investment given we would be unlikely to make a profit if we sold. But this is what I want to do with the next 10 years or so of my life. As a kid I used to dream about having my own land, dams, fish, exotic pets, living off the land and so on. Well now I can do it.

It's probably all in the mental attitude whether you retire in Thailand or Australia. This is the next phase in life and you are entitled to slow down life a bit and take it easy. Find a routine to keep your mind and body fit. That is your new job and new life. Make sure you have a decent computer/internet connection and you can torrent all those Aussie series you might miss. Make an effort to find and visit the farangs around your immediate neighbourhood in case their is someone you click with.

My life would become difficult if my superannuation stream was taxed at the overseas resident rate. All you can do is maintain an Australian mailing address and hope for the best. As suggested by someone else, an allocated pension is the way to go when your Super becomes available. You must withdraw a minimum 4% a year income stream, but it is all tax free. You can also withdraw any part of the capital at any time if you want.

I took most of my Super as a fixed indexed pension and put about 25% into an allocated pension. In retrospect, I should have transferred all of it into an allocated pension. That would of given me a 30% higher income (no tax and no need to put in a yearly tax return) and no financial worries about living overseas. The only drawback is that the allocated pension is dependent upon the stock market for its returns , however, you are pretty safe if you look at it as a long term investment.

Anyway, best wishes.

thanks mate. You talk about super and allocated pensions and tax free. Not sure what you mean? I assumed at 60 when eligible to draw out your super (partially or fully) it was tax free or are you saying you are earning interest from an allocated pension tax free?

By the way...could I invest my money (not super) in an allocated pension now at 52 yo? How do these work?

Kenny, I have just been through the age pension application and 3 reviews. I was 65 when I applied but had spent most of the previous 2 years here. Had no chance of getting the pension as I was deemed a "non resident" even though I still pay tax and all of my assets are in oz. I can give you the part of the Act that they use if you want to check yourself. It could also depend who does you initial assessment as I know of another aussie that will get it when he turns 65 but he "knows" someone in Centrelink.

If you can prove that you a permanently residing in oz you will be eligible for the pension - if not - no.

With regards to your super I was able to get a Transition to Retirement Pension (from my super fund) at age 55. The amount that you can take out each year is limited. The keep changing the limits but somewhere between 2% - 6% each year.

If you are sending money over from oz have a look at OFX. They will give you a set rate as soon as you accept their quote. It is much better than the bank exchange rates here and even better than exchanging cash. They have no fee for transfers over $10000 but the banks here will hit you hard.

Yes thats where it gets all muddy and it appears applying for a pension in Australia is like applying for a license here. Depends on the office and particular person you deal with. I have read so many different accounts of things on TV and I assume everyone is tlling the truth just had different outcomes. I really don't see how they can dispute your residency though if you have lived back in OZ for 2 years? That is their requirement as I believe and I have a letter from them somewhere stating exactly that when I enquired 6 months ago. Are you talking about actually getting the pension or getting portability ie sent to another country? I thought if you worked the required amount of years and no matter how long you were away for you could go back tomorrow and get a pension?

As far as transferring money here goes I dod the Oz forex thing a couple of times and whilst I was happy with knowing the locked in rate they pssed me around a few times. I transferred around $30k here to buy a pick up. A simple transaction I thought. Ended up taking nearly 2 weeks and was embarassing to me as I put the rush on the dealership, they came through and I didn't have the funds to pick up the vehicle. Was a lot of mucking around and wishy washy excuses and stress (I thought I'd been scammed!) for a week or so until I got onto someone who explained they needed all sorts of documentation to prove I wasn't money laundering etc. Was a nightmare actually and I thought handled very unprofessionally. Was like someone was running the busness from their garage. Their website was awful at the time too. Now I simply transfer the funds directly from my Commonwealth account in AUS$ to my Bangkok bank account who automatically do the conversion. I was uncomfortable at first not knowing the ex rate before transferring but they never take more than 0.3 baht or so. Always surprised at how good the rate is when the money goes in.

Yes, all you have to do is prove to them that you are residing there permanently. If I go back they told me I can get the pension without any waiting period. If I had been living there before I applied i would have had the pension and portability.

The paper work to register with OFX can be a problem if you are here. There was going to be a problem with them but I insisted on speaking to a supervisor who fixed everything. Once I got that out of the way there have been no problems. Interesting the exchange rate from Bangkok Bank. It was the not knowing the ex rate that made me change.I am in the middle of a transfer now. At the time of the deal XE market rate 26.3861, Kasikorn TT rate 25.7443, cash rate 25.4589, OFX rate 26.1381 but will loose about 0.15% on bank fees here that will drop the received rate by around 0.04 THB/AUD

[Roomuck]

hey alex marrying an aussie bush pig,,thankfully is one mistake that i didnt make,,mind you marrying a thai girl who only thinks about somtam everyday doesnt smell thatgood either

Ive yet to meet a Thai woman that can hold down a full time job, raise a family, cook every night, lunches for the kids every day for school, and i won't mention breakfasts, clean a house thats 1/3 the size of a modern Aussie home and keep there man happy as well as catch up with the girl friends every now and then.

I speak with some knowledge on this subject.

You can bag the aussie girl as much as you like but there a lot more hard working than any Thai girl I've ever known...

Get out of the bar zone you'll see some hardworking women....

Unlike a lot of guys in here I do t hang out in the bar zones, the 4 Thai girl friends I've had all have degrees and careers 2 MD, current a manger, they all know how to work except at home.

Bloody hell, what do these plus sized sheilas usually provide for breakfast? Cereal out of a packet and milk out of a carton. Lunch, a piece of meat out of packet with press sliced bread.

Got a Aussie mate with a Thai girlfriend in Oz. One night the drunk bush pigs all declared they wanted to learn thai cooking after the Thai cooked for them all. So a week later they all gave it a try. They were just too lazy to do it properly. The wife said to me the were only interested in getting it done quickly, with not much attention to detail or taste.

Why do you think Thai food is popular all around the world, and the only original thing the Aussie sheilas have come up with is a bloody lamington? Why are there no Aussie restaurants around the world? It is because the sheilas are to lazy and brain dead to come up with anything. Meat and three veg with tomato sauce. And when feeling exotic maybe they will come up with Spaghetti Bolagnase, stir fry or Mexican out of a packet from the supermarket.

Similar when I had a Korean girlfriend in Oz, we were invited to a "Great Aussie BBQ" pretty much slabs of meat thrown straight onto the BBQ with a salad that would take about 5minutes to prepare. Compare this to a Korean BBQ.

Same with the housework. Thai women usually do all the work and don't complain about it. Bush pigs have this feminism chip on their shoulder.

Plus theThai women are just more feminine than their beefy bush pig sisters from OZ.

Edited March 12, 2016 by Roomuck

[BookMan]

Bloody hell, what do these plus sheilas usually provide for breakfast? Cereal out of a packet and milk out of a carton.

Got a Aussie mate with a Thai girlfriend in Oz. One night the drunk bush pigs all declared they wanted to learn thai cooking after the Thai cooked for them all. So a week later they all gave it a try. They were just too lazy to do it properly.

Why do you think Thai food is popular all around the world, and the only original thing the Aussie sheilas have come up with is a bloody lamington? Why are there no Aussie restaurants around the world? It is because the sheilas are to lazy and brain dead to come up with anything. Meat and three veg with tomato sauce. And when feeling exotic maybe they will come up with Spaghetti Bolagnase, stir fry or Mexican out of a packet from the supermarket.

Similar when I had a Korean girlfriend in Oz, we were invited to a "Great Aussie BBQ" pretty much slabs of meat thrown straight onto the BBQ with a salad that would take about 5minutes to prepare. Compare this to a Korean BBQ.

Same with the housework. Thai women usually do all the work and don't complain about it. Bush pigs have this feminism chip on their shoulder.

Plus theThai women are just more feminine than their beefy bush pig sisters from OZ.

Goodgrief!

Can't you cook yourself and tie up your own shoelaces?

You sound like a bitter fool going on about aussie bush pigs

That is your mother, grandmother, sisters, nieces, daughters you are talking about

Edited March 12, 2016 by BookMan

[Guest]

You have asked the $64,000 question.

You can see after 4 pages of complete nonsense, you have come to exactly the wrong place for advice.

Do I have the answer for you? NO.

But at least I admit it.

As you know only too well, the Thai work permit system is stacked against you, and the western government have you by the short hairs and want your money .. in their coffers.

I live in Bangkok, so can only guess that out where you are, the difficulty in making money is 10 times harder!

My only positive input is "Nothing ventured, nothing gained" .. take a leap of faith, trust your wife and try your best ... together.

Worst case? Your back in Oz with your nose to the grindstone.

Best case? It all works out and eventually your full pension kicks in as a sweetener!

Best of luck to you ... so many people in this boat!

[Dave12345678910]

Kenny,

You can withdraw your super in full once 55 in Aus if your leaving for good. Then nothing else stopping you from applying for a pension on correct age. It depends on for many years you have work in Aus. Would stay away from any business in Thailand.

Stock market can be good or bad. It is an open gamble. Currency fluctuations also play a big part!

I I knew I could withdraw at 55 but I thought you had to pay some tax if you did? I'm under the impression after 60 you withdraw your funds tax free. I hope I'm right!

If you leave AUS for good you can withdraw tax free is my understanding. I'm not there yet unfortunately. My biggest concern is how to transfer it. By the time Aus bank gives you a crap rate, then charges fees, then Thai bank charges fees, I reckon you lose close to 10%. I can live on that for a year here!!!!

[mydee]

Income you receive from superannuation funds is tax free after you reach 60. The fund itself gets are taxed at a nominal rate of 15% unless the benefits are paid as an annuity or pension which basically means that the fund needs to pay a number of payments each year if it is to avoid paying tax on the income it earns from your assets.

There are rules around contributing to superannuation such as uppper limits on how much you can put in and the age atwhich you can contribute. But allocated pensions must be paid from superannuation funds and if you didn't have the money in the fund from which you are drawing the pension you would have to contribute a huge amount of money to make the excercise worthwhile and would breach the contribution limit rules.

I'm an Australian, aged 57, living in Kosum Phisai, about 40 km east of Khon Kaen. Like you, I am retired and sometimes get a little nervous about the prospects of living on a fixed income for the rest of my life, and at the mercy of the Australian government's taxation policy, poor exchange rates and uncertain stock markets.

I've tried the teaching gig, but couldn't really handle going back to full time work in Thailand. The extra money came in handy, but I didn't plan on retiring just to work full time again. I can still pick up the odd casual job teaching at a hospital, or elsewhere, for half a day here or there. But the money is not much.

To be honest, I think you are better off thinking about how to enjoy your time, while minimising how much you need to spend each month (e.g. budgeting). If you can find some hobbies you enjoy then the time passes quickly. I wouldn't focus too much on helping the wife start a small business. She (like my wife) is unlikely to work hard enough at it to make it a success. It can be done, but she'll have to work a good 10 hours a day and make sacrifices in her own personal social life. It's not going to happen because you already have a comfortable income.

For me, I wanted to get away from working in the office for 30 years and so built a house and have a bit of a hobby farm. It is not an investment given we would be unlikely to make a profit if we sold. But this is what I want to do with the next 10 years or so of my life. As a kid I used to dream about having my own land, dams, fish, exotic pets, living off the land and so on. Well now I can do it.

It's probably all in the mental attitude whether you retire in Thailand or Australia. This is the next phase in life and you are entitled to slow down life a bit and take it easy. Find a routine to keep your mind and body fit. That is your new job and new life. Make sure you have a decent computer/internet connection and you can torrent all those Aussie series you might miss. Make an effort to find and visit the farangs around your immediate neighbourhood in case their is someone you click with.

My life would become difficult if my superannuation stream was taxed at the overseas resident rate. All you can do is maintain an Australian mailing address and hope for the best. As suggested by someone else, an allocated pension is the way to go when your Super becomes available. You must withdraw a minimum 4% a year income stream, but it is all tax free. You can also withdraw any part of the capital at any time if you want.

I took most of my Super as a fixed indexed pension and put about 25% into an allocated pension. In retrospect, I should have transferred all of it into an allocated pension. That would of given me a 30% higher income (no tax and no need to put in a yearly tax return) and no financial worries about living overseas. The only drawback is that the allocated pension is dependent upon the stock market for its returns , however, you are pretty safe if you look at it as a long term investment.

Anyway, best wishes.

thanks mate. You talk about super and allocated pensions and tax free. Not sure what you mean? I assumed at 60 when eligible to draw out your super (partially or fully) it was tax free or are you saying you are earning interest from an allocated pension tax free?

By the way...could I invest my money (not super) in an allocated pension now at 52 yo? How do these work?

[Dave12345678910]

Kenny,

You can withdraw your super in full once 55 in Aus if your leaving for good. Then nothing else stopping you from applying for a pension on correct age. It depends on for many years you have work in Aus. Would stay away from any business in Thailand.

Stock market can be good or bad. It is an open gamble. Currency fluctuations also play a big part!

I've looked into the pension before and I don't think Ur eligible to receive it overseas unless you been back living in oz for at least 2 years? Correct me if I'm wrong. I think the required work years to qualify for the pension is 35 years so I'm ok. My birth year is 1963 so I believe even if I was eligible it wouldn't be until I was 67

Don't think so. My understanding is you only have to apply while in Aus. I know Aussies over here living on their pension and have meet others on the plane going back to claim. Centrelink payments you cannot claim while overseas but pension is fine.

Had a GF once who made money...

First selling perfume which she made up. Not bad money

Then buying old handbags and fixing up and cleaning.

Lending money at 20% per month. Stay the hell away from this. Reason 20% your not going to see your money back a lot of the time! Its probably also illegal

[mydee]

Your understanding is wrong again Dave. Please unless you really know what you are talking about please don't advise people.

Temporary residents can receive their superannuation accumulation when they leave Australia but any tax concessions are clawed back. In other words short stayers who have worked in Australia can get access to their super but get slugged for tax. If you are an Australian citizen or permanent resident you must satisfy a condition of release before getting your money - that is retirement on the grounds of age or ill health. and the retirement age is now 60 for people born after 1 July 1964. As far as getting your money it doesn't matter where you choose to live, even in the back blocks of Isaan Dave just so long as you meet the age and retirement requirements

After you reach age 55 you can receive an allocated pension which is called a transition to an amount paid in installments which are based on your life expectancy a percentage of the assets. An allocated pension is essentially series of pension payments from your own account balance. Limits apply to the amount you can draw down yearly based on the balance of your account or fund and your life expectancy. The idea is to make sure you spread your pension over your remaining life. The idea was that you could top up your income while you cut down on the time you were at work.

Kenny If you need any further information I might be able to advise.

Kenny,

You can withdraw your super in full once 55 in Aus if your leaving for good. Then nothing else stopping you from applying for a pension on correct age. It depends on for many years you have work in Aus. Would stay away from any business in Thailand.

Stock market can be good or bad. It is an open gamble. Currency fluctuations also play a big part!

I I knew I could withdraw at 55 but I thought you had to pay some tax if you did? I'm under the impression after 60 you withdraw your funds tax free. I hope I'm right!

If you leave AUS for good you can withdraw tax free is my understanding. I'm not there yet unfortunately. My biggest concern is how to transfer it. By the time Aus bank gives you a crap rate, then charges fees, then Thai bank charges fees, I reckon you lose close to 10%. I can live on that for a year here!!!!

[zaZa9]

I havent read the rest , but you do NOT have to be a "Non-resident for taxation purposes" !

You are only that if YOU nominate to be so , and dont let any accountant tell you otherwise.

( Thus you pay 'normal' tax - and will/may be eligible for a pension )

Simply ALWAYS state you are on extended vacation on any Aus documentation , never ever admit you are Living O/S , and make yearly or 2 visits home , and maintain a permanent address at a friends or kids place.

No one can 'make' you be a non-resident or stop 'holidaying' , as long as you maintain thats what you are doing.

I have been doing this here for 8 years .

Dont know what the others have rec'd re the missus and biz - just dont outlay precious capital on things you cant own !

Get to know lots of people , and small jobs will fall into her hands.

Mine does laundry , cleans villas and is a casual in a restaurant - all work thats up to her and all the cash she keeps....

Finally : DO NOT BUY A HOUSE !!

2 points Firstly foreigners can't buy a house. Secondly anyone using your method of returning for short periods to Oz thinking their residancy is protected will be in shock when applying for a pension, they will get tripped up 100‰

Next shock will be Medicare

Sent from my SC-01D using Tapatalk

There is no shocks to be had with Medicare.

Medicare ceases as soon as a citizen leaves the country ( yes - they have access to Immigration records ) , and resumes as soon as the citizen returns.

As long as the Medicare Levy is paid as part of the citizens tax obligations , he/she is covered.

( I myself returned to Aus for urgent medical treatment and my expired Medicare card coupled by a phone call by the surgery receptionist saw me treated immediately and for free.)

And of course foreigners can buy a house in Thailand !!

They just cant own the land under them.

Try to do a bit of reading before you come on here with your breathless assertions.

The simple reason I advocate not buying a house should be because a farang can never really own it - not even 50% or 10% of it , but Im against it because of the abject lack of zoning laws , resident rights , and planning regulations.

I know western men who have bought homes , basically for "something to do" , and justified doing so as 'saving rent' , improving the homes potential , and value adding.

And all thats good - Ive been tempted myself.

But we have to be cognisant of all the outside factors that can and do work in the opposite direction .... the TVisa home owners whose Thai neighbour has a bonfire almost daily , the other one whose neighbours now host gambling parties all night , the man I know whose neighbours have built up their land surrounding his , so his now floods. My mate whose expensive near beach townhouse that has had a water treatment plant built straight across the road ( unbelievable !!)

What about the new moo-baan that is to be built up the end of your one lane Soi ?

Is 200 dwellings a little too many for that access do you think ?

And when they all sink bores and wells , will yours run dry?

Will a garbage recycler rent the land next door to your dream home on 10 years lease?

These are the reasons I advocate renting over buying/building.

Sure you can own the building on your Thai girls land - but who thinks you can casually stay on if her family REALLY wants you gone?

And mcfish I made no mention of the Old Age Pension.

Its very common knowledge that it is not transportable for Australians unless they have resided permanently back home for 2 years first.

I never said that visiting Aus every year or two ( not twice yearly ) would guarantee a pension.

The OP said he could fund himself from 60 I believe ...

But I still maintain that the ATO will do nothing to make one a non resident for taxation purposes unless one requests it.