How to get the Australian Pension while Living Overseas
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- Опубликовано: 26 авг 2024
- In this video we look at can you collect an Australian based pension and then take that with you to live overseas in somewhere like Southeast Asia where your dollar goes much further.
We also look at what you have to do to claim the Australian age pension if you moved overseas before you were eligible to claim the pension.
There are three main points to consider when determining how your Australian government pension will be affected once you decide to travel overseas:
1 - If you leave the country for less than 6 weeks.
2 - If you leave the country for more than 6 weeks but less than 26 weeks.
3 - If you leave Australia for more than 26 weeks.
To learn more about how you can move, invest, and do business in Asia:
offshoreinasia...
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DISCLAIMER: This video is not professional advice of any kind. The purpose of this video is for research and entertainment only. It is your responsibility to do your own research and verify the accuracy and timeliness of any information that we provide, and to obtain the services of a professional if necessary. If you wish to obtain professional advice from us, you need to first formally engage us to provide services.
#australia
Thank you for this information, 1 Question, Do you pay income tax on your Pension payments?
Thailand generally won't tax you on income earned from outside of Thailand (i.e. your Australian pension). But this can depend on the visa you're on and if/when you bring foreign income into the Kingdom. However, you may still be subject to some Australian taxes - with the right tax structures this can be minimised. For tax advice specific to your situation we recommend booking a consult offshoreinasia.com/contact/
No ..but you cant work here with out a local who has to have 51% of your business.Guess you could buy BTC or start a online shopping ..if you are getting extra money say rent it comes off your pension..which can be a mess if the place is vacant and you have no rent
no tax on pension, but I have worked on and off over the years,
@@jakeoneill9302 If you have lived and worked in OZ all your life and no assets you should get the full pension
I dont get extra like rent assistance etc
No not at all
In the 1990s I sold pensions on the strength that the tax free lump sum would pay off most if not all of the mortgage and leave the investor with a pension for life. Most were over a 40 year term plus, I was not alone.
The approach of selling pensions with the promise that a tax-free lump sum would pay off mortgages and provide a lifelong pension was common in the 1990s. However, many factors can affect the outcome, including changes in the housing market and interest rates. It's crucial for investors to seek personalized advice and consider diversified financial strategies to ensure long-term financial stability.
it's vital for investors to seek personalized advice and adopt diversified financial strategies. Working with a knowledgeable financial advisor is crucial for achieving long-term financial stability and freedom
@@hasede-lg9hj I'm intrigued by this. I've searched for financial advisers online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I'm intrigued by this. I've searched for financial advisers online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I've experimented with a few over the past years, but I've stuck with Annette Marie Holt for about three years now, and her performance has been consistently impressive. She's quite known in her field, look her up.
I knew about the two years rule before the pension becomes portable but it is a shit rule since you cant go anywhere until your almost 70 and just about to kick the bucket. Australian govt is a stingy bunch of grubs
You can thank Little Johnny Howard.
The mean and sneaky grub.
This was pushed through while he was distracting everyone with gun buybacks , GST and throwing kiddies off boats
If you return to live for 2 years in Australia to be eligible for pension portability, I was advised you can still travel for
@@pwagzzz yeah, I knew that you could still go somewhere. Just not for any decent period of time. Six weeks is still stingy in my book.
Stop complaining.., it's a taxpayer funded system.., not your super that your employer paid into, those receiving the government pension should be grateful.
@@jaisingh5801 and who are the taxpayers? If we had a competent government we would have a sovereign wealth fund like Norway.
We’ve just come back after three months in Europe with our son who lives there. After 6 weeks the pension started decreasing, and in our last pay before our return, we were each down about $50. I have been working in Australia for 22 years, my husband has worked for more than 35 years. I received a letter from Centrelink telling me about living outside of Australia and the 35 year ratio, my husband did not. I wasn’t sure why they sent it because we have no intention of living elsewhere. Having said that, as we were coming through immigration, there was a message in our inbox saying “welcome back” 😂 just shows they know everything about everything.
Should give them wherever they live. Sometimes, the system totally impacts vulnerable people.
Even they live inside Australia they’re living without own house and they can’t buy a house. That’s crazy system. I’d like to ask and inform one of my questions about vulnerable people and/or pensioners eligible to buy a house
Just free them do not control them like a bird in the cage
Free visa free life style and can live abroad wherever they like
That’s it
ok.
But they can live overseas.
@@graerindley6312 can live but they cut their payment how they can live longer???
The Australian government doesn’t want you to live overseas, they prefer you spend more of your life here in Australia 🇦🇺, it’s like living in a Nazi country
I came back to Australia after being overseas for 2 years during the pandemic. I was pension age and applied upon my return. I was told that i have to stay in Australia for 2 years or possibly lose the pension but then was later told i could leave at any time, so that was confusing. One thing to be careful about. I had a part time job during the 2 years i was back, as expected, tax was taken out each pay period and my pension payments were reduced based on what i was earning. The catch was, the pension was added to the income and tax was based on the total, so the tax taken out each pay period was not enough. I ended up with a massive tax bill because of this.
There's no 'catch'. Anyone living for a reasonable period of time in Australia would, or should, know that any government payments, such as the Aged Pension and others, like "Jobseeker" payments are subject to Income Tax, but in their own aren't taxed. If one receives these government payments and chooses to work, that can take a person above the threshold where tax becomes payable. Many probably aren't aware either, that if you receive the Australian Aged Pension and move overseas to live, the Tax Free Threshold, which is applicable to all Australian Tax Residents, currently a little over $18k, is removed and ALL Income is taxable.
@@colinb8512 so if I'm overseas, have no assets and no job or any other income, the pension, being the only government payment, is taxed at 32.5% ? Please be clear about this
@@davannaleah I think you lose the general exemption (ie yes, you have to pay 32.5% tax on all your income) if/when you cease to be an Australian resident for tax purposes. Exactly how/when/if that loss of tax residency happens is not clear. I've read that if you still have property in Australia, bank and or super accounts, still lodge a tax return, return to Australia periodically ... all of these things contribute to your still being considered a tax resident of Australia. I don't think there's a crystal clear picture on this, so one should err on the side of retaining connections in/to Australia, as a precautionary move. Or talk to a (tax) specialist in this area.
I was born in Australia in 1946 and left in 2000 to live in Morocco. I am unable to get the Aged Pension, despite paying taxes for 30+ years..I am too ill to travel back to Australia. All my UK and American friends of Aged Pension age, receive their pensions..disgusting..I have to work to generate income, as ill as I am... I have no family...
When you read the local papers and watch TV,there’s a lot of information on how much HELP there is out there for the Australian Citizens.However,when you start the ball rolling in formulating access to a particular issue,then you realise that it is not as easy as A B C. Lots of IFS and BUTS come into play.
I am sorry to hear of your circumstances due to the fact that you haven’t got family support.
So sorry mate to hear you are having a hard time 😢, Australia is awful.
Disgrace how retirees are being ripped off in Australia 😢
@@lotus8576people work two jobs to meet their basic needs! Home prices are joke, there is no future none
My ex wife has not worked a day in her life and is living like a queen in south America on a full Australian pension Australia is too good.
Its complicated
But you gave a great general outline before people go down there personal rabbit hole
I believe you can help a lot people out
🙏
Thank you
Complicated? Which bit?
The other option is to forget about Australian pensions altogether and just sell up and fund your overseas lifestyle yourself. If you have a Thai wife you can build or purchase a home somewhere nice like Hua Hin and still have a motza in the bank and live like a King. Of course this will only work if you already own a home in Australia and sell it at current exorbitant prices. $40,000 Aud makes you a Thai millionaire in rural areas like Kalasin. All you need worry about then is renewing your Thai marriage visa every 12 months.
Kalasin rocks 😁🦖 Have a home and farm in Banna waiting for me, the 2 year portability rule is going to suck so much 😡
Excellent post - thanks
But why would someone want to forego 600,000 Baht per annum in receiving the Australian aged pension?
@@graerindley6312not to mention the "perks" that go along with the pension.
We met a couple who live in Vietnam permanently. Every 180 days they have to come back into Australia, even for a day. They stay with friends or family for a couple of weeks then they leave. To me, the cost of the flight is something you have to really consider if you want to do that.
How does that work? They would lose their pension after 7 weeks absence from Australia (unless they receive it overseas, but Oz has no agreement with Vietnam).
You can't "check-in" every 6 months and pick up your accumulated pension from your bank.
@@spotvideo4413 I’m just repeating what they said. We have just returned from Croatia after being away for nearly three months. For the first three fortnights the pension was normal. Thereafter it was reduced progressively. Our last pension was nearly $50 less. Today, our pension was normal. As we passed through immigration, we received a message saying “welcome back.” Also, while we were away, a letter from Centrelink was delivered explaining what would happen if I decided to live outside of Australia and how the pension would be calculated. I have only been a citizen for 21 years. So my pension would be at a ratio of 21/35. My husband did not get that letter.
Mostly correct but quite good. You did not mention the assets and income requirement thresholds. The limit to get a full pension is $545,000 assets, which will reduce by 50 cents in the dollar, and the pension will stop at about $900,000. Some people do not qualify for the Australian Aged Pension as they overstepped the assets and income threshold of about 20% of people.
But if you have $900K and you are living in your own home you are free. If you make decision to live outside Australia add extra $600K-$800K if you sell your house and only from interest you can live without any problems in several places in the world. You can come back if you want. Freedom 😊
This rule came about some years ago because the immigrants living in Australia were going back home and taking their pensions with them. So Australians who genuinely wanted to travel for longer than six weeks were penalised.
But isn't that their good right?
Aus gov saves money if pensioners live over seas. As the Goveetmeant won’t have energy or rent asidement. Medical etc
After working and paying tax`s in Australia for over 35 years I reckon it is my bloody right to have the pension no matter where I live and also keep the supplementary benefits , which only goes in to the coffers to help pay for the over paid leeches in parliament.
Wrong
@@stephenfarish2148 The Australian government wants the pension to be spent back into the Australian economy, not overseas 🙂
I just like to ask who and how anyone think a person can live in Australia with 25k a year??
Please explain!
It’s super sad! That we all know this but it’s happening!
I have full pension, and it's 31.5K / year, no problems, they paid other supplements lately, electricity, rego (QLD)
Dont live above your means. Live simply. Cook your own food. I do and and have $200 leftover each fortnight.
The key there is to own your home.
@@scottfree993 yes that’s definitely would help big time, if we don’t have to pay rent. Rents are so expensive these days.
Owning apartment it’s not end of problem Strata getting very high this days Council not cheap electricity water clothing keeping car and food 25000 a year = 480 for week .
Good luck.
Advice for younger viewers: Work hard, save money, invest wisely, especially superannuation, then you can retire on you own terms, and not be watching these videos and complaining when you get to be 70 years old, broke, and homeless.
Exactly what I did. I have worked since I came to Perth Australia in 1973, at the age of 16. Super & savings a big part of planning my future. Got married & started our family, 2 children. Bought our first 5/2 house in 1990. We both worked. Hubby worked full-time & I casual while maintaining a home. 5 kids, 5 grandchildren later, we're self sufficient @ 69 yrs. We do get a part pension as we both still work 😂 part-time. But don't reliy on it as our Superannuation fund helps us live a comfortable normal lifestyle. We never sold our home as we've watched the world change drastically for the worst. It'll always be here for our children. Don't get me wrong, my children are ages 44 - 29 & have worked & bought their own homes. But if ever they hit a hurdle, they would have a home to come back to 😊 People tell us to sell our home as it's worth a hell of a lot more now. $45,000 in 1990 for a 1/4 acre & 5/2 home worth over $700,000 now, but I see it as an investment in my family ❤ Our door is always open to anyone in need
Yep, i retired at 51 by moving overseas. I'm not working until i'm nearly dead. Invested my whole working life, sold everything and am now actually living life. Not just existing to work and struggle. I'll get my super when i need it after 60 and am set. Never rely on anyone else
@@missflix919
Good on you and I hope you enjoyed your retirement, it’s good to see younger people waking up to what’s going on & it’s not a pretty sight if you’re living in this dump
worked very hard for 40 years . wife divorce's you take 1/2 bye bye
I actually got my pension cut off while in Thailand last year.
I was there for five weeks in total.
However it was two seperate trips.
This upset them for some reason and they cut me off.
They reinstated it as soon as I got back but they said “I had to talk to them before going”
@theboxofdogs And so you should have your pension cut when you are in another country.
If on Pension they want you to notify them if travelling overseas
@@johnthompson9440 Yeah I found that out. Cheers
@johnthompson9440 Makes no sense when it states on services australia website that centerlink is automatically notified when anyone on the system leaves and returns.
@@jeremyschipp a lot on things don’t makes sense when dealing with Centrelink . They want you to give them notification when leaving and how long ,it’s a courtesy if you don’t expect it to be cut off .
I have a question ?
I a person isn't on a 67 old age pension ...
but is over the 35 year Australian citizens tax payers requirements rule ( as you discussed an Australian born person over the age of 51 ) & they are on a Australian government Disability support pension ..
are the moving overseas permanently deductions accessed the same as the old age pension scheme. .
The benefit of living abroad would obviously be a great benefit for a person that requires ongoing medical treatments to assist them with their disabilities...& Does they government deducts medical allowances when living abroad from Australia
What about a disability pension are there exceptions,?
Sorry. You're too disabled to travel.
Prior to the early 2000s an Australian could live overseas indefinitely on a disability pension and the last I heard they are still grandfathered in with it, I think at least until they set foot in Australia again, some also won cases at some tribunal to be able to still continue their disability payments even after returning, but it was stopped for any new applicants past a certain date.
@@scottfree993
How do you know about all of this mate???
@@Male666chauvinist it was in the newspaper at the time about a certain case.
@@scottfree993
Ok, l want to live in Thailand been on the pension since 2001 & in Sydney behind the dental clinic there’s a place called welfare rights centre in Holt street,and they sent me information on how to get the indefinite portability of the D.S.P two days ago and it’s very difficult you have to get 20 points so I believe if I try the government will say you can pack shelves in Coles and take me off the pension and I wouldn’t believe everything I hear on the news.
Welfare rights Centre has lawyers there you can chat with them for free it’s a non-profit organisation and they all deal in social security law, that’s the best place for the right information
I would also like to advise everyone that if you get a email from the state or Federal government while in Thailand you can’t open it and have to travel to Malaysia to see what they want
Very informative Thank you
This is gold information..thankyou
Thanks, glad we can help
Thanks Mate this very helpful 👍
Does include former Australian Territory of Papua's indigenous inhabitants.
Its bad enought that ppl travel to Australia just to apply for the disability oension ... never having worked and paid the tax to earn it ;(
I’ll be 67 in 2034 the rules will be very different by then if I live that long
Save your money and forget the pension!
@@johngreydanus2033unless of course you came to Australia as a refugee, they have their own rules which advantage them over the every other Aussie.
@@scottfree993 Came on a working holiday, which was a thing back in 1970's
@@scottfree993
Here Here
Thanks very helpful
You would always have the stress of them cutting it off then have to fly back to fix it ever tried ringing centerlink I have it's a 2 hour wait most times you would think in our old age they would make it easier and less stressful no no no this is Australia government
This could be an issue, but a long phone call may still be better than flying home. Not to mention, the stress of trying to live on pension payments in Australia far outweighs the prospect of a long international call with Centrelink
I'm living in Sri Lanka and receiving the pension for just over a year to date, how long would I be able to stay overseas before they decide to cut my complete pension ?
@@ndea2005 I am sure there is a list of countries where your pension gets paid in full ever year until you are pushing up daisies , because these countries have an agreement with Australia.
I know people in Greece that applied for age pension. Social security treaty.
1. Did they get it without having to spend two years in Australia?
On the 2-year rule for portability for former residents, I assume that the 2-year period would be negated if one was to return to Australia 2 years PRIOR to claiming the Age Pension - say at age 65? During which time one could work, if they chose to.
The 2 year rule only applies to anyone who has successfully claimed Age Pension. However, the 2 year period begins on the day you return to Australia, not from the day you claim Age Pension.
Correct in that, one can return on or before their 65th birthday, apply for the pension 3 months prior to reaching 67 and the pension will be granted as of the 67th birthday. Them it becomes portable. If returning to Australia after the 65th birthday, after living overseas for a period of years, 2 full years has to be spent in Australia for the pension to become portable. In that 2 year period, I believe that a couple of overseas holidays are allowed as long as they're no longer than 6 weeks each time and Centrelink are notified.
I heard you cam do your 2 years within a 5year period before you are 67. Do if you return at 62 or 63 do 2 years become a resident. And can leave then return to claim the pension and it is portable. I stand to be corrected.
@@offthegriddownunderaustral8814 That's not correct, You have to be in Australia to apply for the Aged Pension. The two years to qualify for portability of the pension has to be served either immediately before reaching the aged pension age (currently 67), or immediately after you have been granted the pension.
@@colinb8512that makes sense thanks 🙏
@@colinb8512with an exception for those in bilateral agreement countries like NZ.
Very useful information and thank you.
Just want to ask question regarding to my own situation.
I worked full time from age 19 years old to last year 2023 when I turned 55 years old then I decided to moved to lived in Thailand Mar 2024 as a expat with Visa Non-O.
I also have both unit rented out & bank term deposit earning interests yearly and I have been paying tax every year through a regular tax accountant and also I still have superannuation of large amount in Australia system and I do return to Australia once a year to visit families, GP doctor to check my health etc.
And it look like I might be living in Thailand until I am 67 years old so;
Q1. WILL I BE GETTING FULL PAY PENSION WHEN I TURN 67 YEARS OLD?
Refer to 5:36 you have not become a non-resident for tax purposes. I take it you still pay Medicare and vote? Just my opinion.
@@larkhill2119
Yes I still pay tax every 3 months in advance up to yearly tax refund due to because of my rental income & term deposit with bank yearly.
I still have to vote & have Medicare to go see doctor for medical check.
Sorry, so I will be getting full pension when I turn 68 years old right?
@@airchanthaboury9005not without an Aussie address for starters.
Thanks Air, the best way for us to give advice is to book in a consult call. We have a discounted service available for pension related queries: calendly.com/quintrell/offshore-in-asia-30-minute-consultation-pensioners
Yes mate
You forgot to mention those who are on the disability pension. They are only allowed 28 days per annum out of the country or they will lose their disability pension... even if travelling for health purposes. ... ie: much cheaper medical procedures in Thailand than the outrageous costs in Australia. There can be exceptions but they require you to jump through many flaming hoops of bureaucracy while also undergoing a disability pensioner review .. which is the same as applying for the disability pension all over again and pretty much like trying to find hen's teeth.
Totally sucks and screams discrimination.
Yes I was going to try that but they will say if you can pack shelves in Coles then they will cancel your D.S.P this is what you are dealing with
No good for me, I worked in Australia and paid tax for probably more than 30 years, did 2 years in the army as National serviceman from 1969-1971, then I went to work overseas in 1988 I bought two properties in QLD and rented one that I paid tax on the rent monthly and rates etc etc on both, paid my income tax yearly. I stopped working overseas in 2010 and married in Thailand same year. My Family including 3 children did not want to move to Australia so I have stayed in Thailand ever since, Govt then in 2010 told me I had to return to Australia for the two years etc etc which was not an option because of my family situation, so that was the end of that, so eventually over time I sold my two properties paid a lot of CGTax and now live on the proceeds? I’m now 75 years old. So getting the pension from the Australian Govt for people married and living overseas is a no no unless we return home for the two years.
You’re better off staying in Thailand if you no longer own property in Australia. The pension won’t even cover the rent mate
The Australian pension is designed to help Australian residents.
@@graerindley6312 : jamespaton2085 worked for over 30 years in Australia and was a resident, therefore paid taxes and fully entitled to as much as anyone else , you included.
Sounds like you did alright anyway, enjoy the time you have left.
What happens with Medicare and private health fund.
If you're not living in Australia, you're not covered by Medicare as that's for Australian residents living in Australia. You won't pay the Medicare Levy either, which is part of any Taxes paid annually in Australia. Private Health Cover in Australia doesn't cover overseas medical expenses
@@colinb8512unless they changed the rules recently, you can claim it until your Medicare card expires after you leave.
Hi l am 65 retired in Thailand. l have been told l have to return to Australia 2 years before l turn 67 or stay 2 years after. are there any exemptions to this I don't have the money to return and nowhere to stay in Australia anymore An advise please
Do you know if you return to Australia 12 months before your pension date is due, I understand you can do this and apply for the pension. Once approved you can then leave the country. I'm sure I've got this from services Australia. Any thoughts. I live in Thailand. Still a few years before pension age. Thanks.
Very good question as I would also like to know the truth.I may ring Services Australia head office in Tasmania.
@@oldmanJ Whatever advice/ruling centrelink gives you get it in black and white.
Whether it be paper or email.
I found email when dealing with Centrelink best because of the time/date stamp and person issuing
If they say no to whatever the question is and won't supply documents to back the ruling up the Centrelink rep will sometimes be erring on the side of caution.
Be as polite as possible, which can be hard with some of the staff. Stand your ground for documentry evidence.
Don't get into a "dispute" otherwise they can get nasty and delay your claim
i believe its 2 yrs out of the last 5 yrs
Sir how about disability pension can that be transfer here in the Philippines
We haven't looked into that yet. If you want us to do some research, get in touch with us via offshoreinasia.com
I want to know also, can I live in Bali on a disability support payment?@@offshoreinasia
You need to apply for unlimited portability, which means going through all the dsp reviews etc and you need to convince the gov doctor that you are so disabled that you have no chance of working even for a few hours.
@@viper1431
They will say that you can pack shelves in Coles so we will cancel your pension because that’s the type of people you are dealing with, they want you to suffer, they think 💭 of themselves as the extra nail in your coffin mate,
How do I qualify for age pension
First, you get OLD, let me know when that happens for step 2.
@@johngreydanus2033 how old
My ex wife has been living in Argentina for years on an Australian age pension like a queen
Pretty sure there is an anonymous phone line to dob people in.
Typical mate
@GazGuitarz you can leave australia for more than twenty eight days but have to inform centerlink of travel dates.
Totally incorrect
@@christopherbentley5446I believe that’s in the old days. Now they know automatically, seems border systems are linked with centrelinks systems
How does the rules go when you are an Australian Citizen worked your whole life but married to a woman from Indonesia for more than 10 years
And want to live in Indonesia
Thanks
One point thats often overlooked is that Centerlink advised me that Australian citizenship was completely irrelevant and that only residency was considered for aged pension. I left Australia age 55 to live in South America but I had lived in Australia from jan 1982 continuously as an Australian Citizen there and paid taxes 32 years and still have all my family there and returned there when 65 y old (was eligible age in 2016) thinking that i could return every 6 months for 2 years to get pension as they had stated on their website at the time (2015). They flatly refused to pay any pension on the grounds that i applied for residency in a South American country in 2011 . Now they have completely changed their website and they told me by phone that in fact you have to be a permanent resident and stay there and only short holidays abroad are allowed to maintain pension. Ironically I am surrounded by 100s USA, german, French ect expats getting aged pension.
That sounds like a complex situation, perhaps go ahead and book a free discovery call and we'll see if there is anything we can do :)
No it’s not to me IT’s sounds typical of the Australian Government in my opinion it’s to be excepted
If you haven't been living OS and apply for the Pension, is there still a 2 year waiting period before heading for the airport?
Lol😂😂😂😂 that’s so funny mate made my day 🎉🎉🎉🎉
FO grub!
Then when you were "Back in your home country" ... i really had a good laugh that that joke ... thankyou
Can you do one on DVA pensions
I’m interested in more information. Australia is super expensive and not an option to retire here. Been in Au for ten years and 7 years New Zealand where there is a reciprocal agreement. Currently 69 years old and working full time every day . I hope there is an answer. 😴 visited Thailand several times and it seems like a viable option.
Hi there, you're not wrong. For this kind of advice we recommend booking a consult call. That can be booked here if you're interested: offshoreinasia.com/book-a-call/
Are you saying that if you have been overseas for extended period (in our case 23 years) and return to Australia (68 & 70 years old couple) for the obligatory 2 years before leaving again. We will receive our pension during those two years? I have not seen this written anywhere. I was under the impression you had to "Wait" for two years before receiving our pensions.
You can get the pension right away but have to remain in Australia for 2 years or else it'll be stopped.
After the 2 years you can then leave Australia permanently if you want and you'll keep getting the pension.
This is why these agents are neccessary. No one LISTENS.
@@Craigaus Knowing Centrelink, I sincerely doubt this would actually be the case...shifting goalposts!
Very informative, Thank you have opened a new door for me maybe? Question, I do have a pension just received it 4 months ago, I just turned 79 in very good health. I live on a sail boat what if I go sailing around different parts of the world and not live in country as a resident only tourist what impact will this have on my present pension?
Irelevant. If you have "been out of Australia" you have not been "resident" of Australia for that time.
Australia. Nanny State.
Bullshit
@keekwai2 absolute shit hole. Keep enjoying it though. 😂
@@keekwai2
What rock did you crawl out from??
Question that I would love answered… if I am currently a tax resident of Australia but live in the Philippines, have worked in Australia from 16-55 so the issue of 35 years is not an issue… do I have to come back to Australia to claim the pension for two years?
Yep, you may have a wife and kids that depend on your support in the Philippines, but for some reason the Australian government requires you to leave your home there and return to live in Australia for 2 years before they let you have your pension. This won't change until Australia signs a social security agreement with the Philippines, which should have been done 30 years ago. The subject of a social security agreement with the Philippines was last mentioned in parliament about 12 years ago and seems to have been forgotten about. Take a look at the list of countries that have a social security agreement with Australia and wonder at the tiny obscure countries on that list and why the Philippines is not on it.
@@Kwanglebeh How can you have a social security agreement with a country that isn't financially strong enough to honor it? The Philippines govt cant afford it.
@@graerindley6312 There's not many elderly Filipinos residing in Australia but there's plenty of Australian retirees living or planning retirement in the Philippines. The burden of providing an indexed pension payment (which in the Philippines is meagre) to a handfull of Pinoys in Australia would be tiny and easily funded with income from their SSRV visa program. There's bunch of tiny irrelevant and economically challenged countries that are for some obscure reasoning , on the list of 32 countries that have a SSA with AU.
@@Kwanglebeh
Well said mate, the Australian government don’t want to to live in other country’s mate
So as an Ap currently living in Australia and drawing my AP , been a tax payer for 40+ years I can say live in uk or Thailand and still get my pension ?? Payed into Australia bank account ??
That what he said, but Australia is the BEST.
Yes. I've been an Aussie since year dot (born here in 55 and worked all my life) ... I retired at the end of 2019, aged 65, travelled for a year and a half, came back in Dec 2021, got pension in June 22 when 66.5 years old, have spent 75% of my time in SE Asia since then. Lots of Aussies do it in Thailand and other places.
No idea how long the pension will run for.
It’s affordable. Australia last year made $760bn in tax revenue and paid $51bn on the pension. Everyone pays their taxes and deserves a reasonable retirement.
@@josephj6521 Or they could save their own money and be even happier, live a Hollywood lifestyle!
If you have a diplomatic agreement with certain countries you can live in that country permanently, Greece is one of them
Hi how about if you move to another country to lived forever but im in old age pension in australia i've been living in australia since 1986 can i still get my old age pension in some other country?, can you give me more info please?, thank you...
Good info. Many thanks 🙏
I am overseas indefinitely and spoken to several Australians here and it seems nobody really knows, even after scoring through the Centrelink website, if you have no assets, super or any other income, do you have to pay tax on your pension? For now, my assumption is yes! I will have to retain 32.5% of all my pension payments and wait to find out next July when I do my tax return...
I presume that I still have to do that...?
Would it make a difference if i declare that i am not a resident for tax purposes?
Hi Davanna, the main factor is whether you are a resident of Australia for tax purposes or not. If you would like to discuss your situation with us, we have discounted consults available for pensioners here: calendly.com/quintrell/offshore-in-asia-30-minute-consultation-pensioners
ONLY FOR CITIZENS OR RESIDENTS AS WELL?
how can i find how long have i been tax resident of Australia between the ages of 16 and 67? is there a web site? Where can i ask?
Check your passports, they have all the exit and entry dates, post them here and we can work it out for you!
You can apply online from immigration department (immi homeaffairs gov au) search for "Requesting travel records" they give you a complete list of every time you have entered and left australia since mid 1981.
thanks buddy
more agent locking onto the Gravy train!
With so many simple minded people, agents are a godsend to them. Idiot
You are saying come back to Australia at 67, apply and start receiving, and then stay for 2 years. Say you leave for 4 week holiday, how will they know you are coming back or not, or should you tell them, or are you cut off for 4 weeks. I was under the impression that you had to actually be resident in Australia for 2 years before applying. That is from age 65 to 67. Could you clarify?
When you leave your passport will be flagged.
I am a Canadian/Australian citizen, now living in Canada. I just turned 67 and I'm on a Canadian pension. Just wondering how I go about applying for my Australian pension if I'm actually even eligible. I lived in Australia for 22 years and worked there for approximately 15 years. I no longer have my Tax File Number so not sure how I go about all this. Many thanks if you can help me with this.
Hi LaDee, it is possible to claim in two countries but generally each pension would be prorated and claimed as a part-pension. If you would like help to investigate this further you can do that here: offshoreinasia.com/book-a-call/
Interesting, I am similar situation, but I stayed in Australia. They made me fill in the Canadian paperwork before they would process my Australian pension. So now I get 2 payments monthly, about $90, from Canada, even though I left when I was 21 and had only worked 2 years maximum. The hardest part was to remember my Social Security number after 45 years but I did, HA.
Thank you
I was told
28 day's max
Good to hear it's 6 weeks
do not go by what your told because there is different information growing on the grape vine , I contacted the social services in person and got all the info I required from the horses mouth
28 days for Disability Pension.
@@grahamjones6300
Yes that’s correct in 12 months period, then they suspend your D.S.P can stay overseas for 3 months plus the 28 days then any longer they will cancel your pension
It's 4 weeks for Disability pension not 6 weeks? This is for NSW not sure about other states.
It’s the same rules in the whole of Australia because it’s the federal dogs 🐕
GREAT insights!
Thanks
Only problem i see is if you require urgent medical care or end up with chronic condition.
No problem at all if you have brains enough to get insurance
@keekwai2 if you qualify for the pension and you require as you are not self funded I doubt you will be able to afford private health that covers you for ongoing chronic care or emergency surgery.
Thanks for the info...i have a question.....Im planning to retire in Vietnam when im 63 and live with my Vietnamese wife there.
I plant to stay there for about for and live on my super till im 67 and go back to apply for the old age pension...when i go back do i need to wait for 2 years to be eligible for the pension?...i have been in Australia for more that 45 years.
Hi Joe, best to book in a call so we can discuss your specific situation. Thanks
offshoreinasia.com/book-a-call/
@offshoreinasia that's ok I'm not ready to retire , fir one.. Second I can find the information free here in Australia
Thanks anyway
You will definitely get the pension but you might be required to stay in Australia for 2 years after being approved. But you need an expert to advise youre about exactly what your residency status is at the time that you are aged 67.
Not much of a happy ending is it cobber.
Any suggestions to legally "Hide" your assets apart from your house as for example singles if assets excluding house are more than $301k no pension is paid. Any way around that, legally?
You can give any amount to your children if you have. You can give them in accordance to the law only $30K each in 5 years but if you give them any amount you want in 5 years from the date when you give money the funds are not longer calculated as your assets. How children will return funds to you it is up to you and children. Trick is to start this well before you turn 67. Let say you are 60 and from your calculation it seems that you will have too much assets at 67 give the money to children and when you turn 65 the gift will be not counted as you assets.
you can lend me some and put it in my Thai bank account for a fee. :P Would be all legal
@@bravefart1000 what I need is only your bank details
Legally hide? You clown. Lol
Excellent blog
Thank you
It’s truly Sad
In the 2 year rule example an Aussie returning to the country was used.
If I have been in the country for more than 2 years before applyin for the pension, would i be required to stay in oz for a further 2 years?
Yes. Need 2 years after grant before portability applies.
@@grahamjones6300Wrong. LISTEN to the vid slowwwwwwly.
What if you have a DSP pension how does this apply to travel overseas?
You'll need a wheechair to get onto the plane.
Thanks Sir☺️❤️🙏
what if you are on and or been on a disablity pension for over 20 years plus
A friend was on that and when they visited a friend in Thailand it was stopped and reinstated on their return.
@@wagonweel4200Because its a glorified version of the dole. And most recipients are rorters.
I went to Australia in 2023 I went to centre link for age pension but I live in Lebanon my application been rejected 🙅♀️ ❤❤❤❤
Good. Too many freeloaders already.
Very interesting information I didn’t know about the 2. Year rule or pro rata rate of working in Australia 🇦🇺 and paying taxes but I understand the government has to have rules about this subject because of people abusing the system years ago and living off the Australian Taxpayers in another country in most cases that they originally came from so everyone gets caught up in the new rules sorry but I support the government on this matter
Being 50 years old and living in Australia your whole life and also on a disability support pension can I live in Thailand permanently and still receive the DSP thanks
No, they'll cut off after 6 weeks out of the country
Hello, I came back from oversees a few months after my 65th birthday, do I have to wait the full 2 years ?
YES
@johngreydanus2033 NO. LISTEN to the vid
This is great 👌
Yes want to move retire in asia
Well this info just ruined my plans, i was planning to leave Australia to colombia at age 65, then return at age 67 apply for the pension then go back to Colombia with the babes. Now i am buggered. Dont know what to do anymore. But definetly dont want to be here when I am older bugger that.
Hey Bro! You might be fine I heard you have to be a resident for 2 years within a 5 year period before you claim
Hi there. Very informative. What about if I'm living overseas for a few years (but have been a tax resident for 35 years prior to living overseas) and decide to return at 65 or 2 years before I qualify for pension, perhaps work for another 2 years, do I still have to stay another 2 years (assume I applied for pension when I reached 67 yrs old) the moment I get approved for pension?
Its called working life from 16 to 67 .regardless if you worked or never worked in your life
You will be approved, the same situation happened to me.
@@graerindley6312Approved for what? The pension or portability?
Thanks for the info 👍
I am Australian citizen living in Thailand with my Thai wife. I retired at 56 and now 60. If l have to return to oz to 2 years at 67 , can l return to Thailand for a 2 week visit a couple of times during that period?
Hi Anthony, send us and email via the website and we'll see what we can do for you.
Go back for 2 years when you're 65. You can then apply at 67 with no waiting and leave immediately. 2 x 2 week visits should be OK.
@@metalguru5226thanks
Is that what you did?
@@Tony-eb5kh It's what I plan to do. Not pension age yet.
A Query - So given the bilateral arrangement between Australia and New Zealand, if I was tax paying in NZ for 25 years total, tax paying in Australia for 25 years total, and now are receiving the full Aussie Aged Pension now aged 70, how would the calculation work if I moved to Thailand "permanently"?
Hi, is it still true that a pension recipient still has to return every 6 months to save the pension being cut off? I have read about that. Thanks
Hi Britinoz, you will lose the supplements but the basic pension can still be claimed overseas without returning provided you meet the eligibility criteria. There can also be tax implications if you are no longer a resident of Australia.
@@offshoreinasia😊
This is too complicated. I came to Australia when I was 39 years old, I’m 53 now. I guess the best way for me is to prepare for my retirement in the Philippines and don’t come back. You can’t survive in Australia for just $1000 every fortnight. I feel sorry for the elderly here. After working so hard all your life, they will only give you a max of $25k a year. What a joke!
But there are very few countries in the world that have such a generous pension.
Complicated? Get a 10 year old to explain it FFS
@@keekwai2 Sad that you're such a nasty pasty!
Tyvm❤very informative
If you have a house here and sold your home taking the money out off the country. That money should fund your retirement. Overseas.
Its like people living in three and four million dollar properties still getting the pension. The country has populations of 26 million this is just rough figure 7 or 8 million has to fund the retirement populations. Its does not add up. Expenditure is more then your income. ❤😂❤
Only for 3 months I know
👍🎉 Thanks
Noway
Within the 35 years of being a resident one has to also live in Australia for 5 years as a resident without any breaks to be eligible for the pension. So this would mean no short holiday overseas holidays for 5 years.
I don’t think so.
That only applies to someone arriving in australia for the fist time ,lets say at age 65 .they have to live for 5 years minimum befor claiming , so 70 years old.
@@frankie8762 what are you talking about.??
@@frankie8762 5 years is for applying for the pension.. not your working life from 16 to 67 .. educate yourselfs
I'd rather starve than go back Aussie for 2yrs !
Too Right
Your choice😊
Australia is great if you've got your head together.
@@graerindley6312How do get your head together , when you have Brainless Politicians
Fool
Sri Lanka is the place to be.
Shithole
Is any Australian Insurance applicable overseas in Asian countries?
Contact the insurance provider, this is RUclips video!
Cambodia is probably cheaper for retirement....
the people are so friendly and the food is great
Colombia is cheaper than Cambo. I've lived in both.
How about pensioners coming into Aust?
Other countries? the question lacks critical information, but hey, carry on.
They smell worse than the ones already here. Next question?
Spending aussie money over seas damages aussie dollars .... china has over 4T$ stockpiled to use against the US stock exchange .... and your allowing the same to happen to Australia.
Pensioners overseas are saving us on medical bills plus transport costs. I think it’s a great idea for pensioners to move overseas as it’ll save more money. That’s what I think.
It only 4 weeks. Not 6.
Age pension is until ya dead where ever you are..
Personally! All these if, buts and maybes could be be put into a flowchart easily! The question is! Are you prepared to put in that homework? Or should I do it and absolutely use whatever data you are using! Or better?😅
A flowchart? You obviously have no idea what one is! LOL
@@keekwai2 I've done thousands of them!