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oznomad

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Posts posted by oznomad

  1. 17 hours ago, Lacessit said:

    This is an area which is very vague, there are AFAIK 4 basic tests of tax residency.

    If the ATO decides you are NOT a tax resident, good luck with trying to change that decision.

    4 tests, yes, but you dont have to 'pass' them all to remain tax resident. 

    You can be tax resident without setting foot in the country for many years, like me.

     

    https://www.ato.gov.au/Individuals/coming-to-australia-or-going-overseas/Your-tax-residency/

     

    • Like 1
  2. I just came here to read the comments, and I wasn't disappointed.

    From those that evidently have the reading skills of a 4 year old village kid, to the standard 'I see better in 7 Eleven' and 'ladyboy' jibes.

     

    Perhaps future similar comments on pageants should include pics of the commenters current or most recent squeeze. ????

    • Thumbs Up 1
  3. On 8/11/2022 at 11:08 PM, Kenny202 said:

    And the problem for me is I have been out of the country over 2 years (8 years actually) and don't own property so I am a "non resident for tax purposes"....which means any tax I need to pay is at the full rate...as if I were a foreigner. I have been assured though should I wait until 60yo there will be no tax.

    You don't automatically become tax non-resident. It's a process you have to go through, which often ends up being financially detrimental. 

    Having asked the ATO the question on non-residency vs over 60 tax just recently, they said that you will be taxed as a non-resident firstly (ie 32.5% on every dollar, no tax free threshold) and then get a tax offset of 10% on the tax liability.

    If on a pension, that is quite the loss.

     

    My thoughts on your bigger picture.

    Cash out all your super and quickly put it into something that will at least hold some value.

    Money in the bank (or super) is losing value every day, and will continue to do so.

    Precious metals would be the leading solution, and it's a good buyers market now.

  4. 13 hours ago, jimn said:

    Hold on a minuite. The way I read the OP is that when he returns to Thailand his OA insurance will have finished? Thats why he is looking for 2 months insurance and then take out a new 12 month OA insurance when he renews his extension of stay? Correct me if I am wrong.

     

    That's correct jimn.

     

    When he arrives he will have no OA insurance so he will not be stamped in to the expiry date of his stamp, so all he will get is a 30 day visa exempt entry and his OA is cancelled.

    But if IO at swampy isn't checking, as per the rules in ubonjoe's replies, then it's all good.

    I have other insurance in the meantime, just not a TGIA robbers version.

     

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