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Australian pension


johnmcc6

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On 12/9/2018 at 8:29 PM, Lacessit said:

I save my pension because I don't need it until the end of the financial year, when I transfer a lump sum. I don't know what relevance having your pension paid by the RBA has to the discussion. I know what I get and don't get too.

Perhaps the difference is I go back to Australia every six months for medical checks, whereas you state you are living permanently in Thailand.

Yes correct again it pays to go home every 6 mths to keep everything active as if you were still living in Australia I do same every 6 mths mainly for medical & prescriptions ect, it’s a good time to do every 6 mths as your then only temporarily out of country.

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5 hours ago, LosLobo said:

Money in the bank is a financial asset and will be deemed as income.

 

The threshold for the full pension under the income test for a single non-homeowner is still $161k not $470k.

Sorry not true.

5 hours ago, LosLobo said:

Money in the bank is a financial asset and will be deemed as income.

 

The threshold for the full pension under the income test for a single non-homeowner is still $161k not $470k.

So what your saying in essence is that if I have $470,000 in the bank or less and am married to a Thai who has Australian Citizenship and has been in the country for 10 years, I will get the full pension, but halved because she is 21 years my junior and can find a job to support me, regardless if we returned to live in Thailand ?  


You will only get half the married rate about $700 p/f  sorry but your wife will get nothing until she is about 70y/o.  Because you are not single you cannot get the single rate of pension. (AAP) I hate to be the bearer of bad news.  It's tough giving advice about Aus pensions. If you tell them the truth they often hate your guts.  I'm not being flippant but you would be better off getting divorced and officially separated when living in Thailand.  As an single AAP pensioner, you would get $858.00 per fortnight after 6 weeks absent from Aus. and be able to keep any dividends from your assets of approx $470.000.  If living in Aus your wife may be able to get some unemployment benefits but remember if she gets a good job her income could reduce your AAP payments some or a lot or you could get none (please don't throw old boots at me) yes it's shocking.  

 

 

Full pension

From 1 July 2018, pensions reduce when your assets are more than the amounts below.

If you're Homeowner Non-homeowner

Single

$258,500

$465,500

A couple, combined

$387,500

$594,500

A couple, separated due to illness, combined

$387,500

$594,500

A couple, 1 partner eligible, combined

$387,500

$594,500

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5 hours ago, LosLobo said:

Money in the bank is a financial asset and will be deemed as income.

 

The threshold for the full pension under the income test for a single non-homeowner is still $161k not $470k.

I kind of remember this when I sold mums place when she went into a nursing home, sounds about right.

 

Someone mentioned deeming, I did do the research but couldn't believe what I was reading so I just dropped it.

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11 minutes ago, 4MyEgo said:

I kind of remember this when I sold mums place when she went into a nursing home, sounds about right.

 

Someone mentioned deeming, I did do the research but couldn't believe what I was reading so I just dropped it.

Just read the last post about assets for AAP recipients and just stop the BS

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On 12/9/2018 at 10:50 PM, Lacessit said:

Disagree. Every time I land in Australia, my electricity, water and phone concessions are restored. I don't lose them again until six weeks have elapsed after I leave Australia. I don't have to re-apply for them.

I was informed by Centrelink prior to departure in December 2018, that the supplements cease after 6 weeks, and restored automatically upon return, as the Immigration and Centrelink info are now linked very well.

 

I have never applied for them, they were just automatic in my case

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On 12/9/2018 at 12:56 PM, 4MyEgo said:

Yes, she will be assessed as being able to work, especially if she is younger than you, suffice to say they will cut your pension downwards. 

If your career is your girlfriend then in the eyes of Centrelink she is your partner,so therefore even now your not entitled to single pension,you are a couple so same as being married,good luck

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2 minutes ago, Hoppyone said:

If your career is your girlfriend then in the eyes of Centrelink she is your partner,so therefore even now your not entitled to single pension,you are a couple so same as being married,good luck

The carer, may be entitled to a carers payment if you qualify under the rules for a payment.

Perhaps attempt to speak with a Centrelink community engagement officer for some information

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5 minutes ago, David Walden said:

Just read the last post about assets for AAP recipients and just stop the BS

David while I appreciate your input, can you refrain from becoming facetious, we all put our views forward for one and another to mull over, i.e. no need to accuse me of BS.

 

If you have over an amount of x $ in the bank Centrelink start reducing your pension, $161,000 sounds about right as the other poster mentioned. I will look into this, the $470,000 assets I also have to look into, because I know if one owns a property to the value of x they are ok.

 

Keep it simple, stupid 🙂

 

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  5 hours ago, LosLobo said:

Money in the bank is a financial asset and will be deemed as income.

 

The threshold for the full pension under the income test for a single non-homeowner is still $161k not $470k...just cut the Crapp.

 

from 1st July 2018, pensions reduce when your assets are more than the amounts below.

If you're Homeowner Non-homeowner

Single

$258,500

$465,500

A couple, combined

$387,500

$594,500

A couple, separated due to illness, combined

$387,500

$594,500

A couple, 1 partner eligible, combined

$387,500

$594,500

Edited 5 minutes ago by David Walden
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23 minutes ago, 4MyEgo said:

I kind of remember this when I sold mums place when she went into a nursing home, sounds about right.

 

Someone mentioned deeming, I did do the research but couldn't believe what I was reading so I just dropped it.

I just grabbed the following links randomly from Google.

They will help you understand deeming and the income/asset tests.

https://www.noelwhittaker.com.au/resources/calculators/deeming-calculator/

https://www.noelwhittaker.com.au/resources/calculators/age-pension-calculator/

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20 hours ago, Lacessit said:

Right in some aspects, wrong in others. I've moved on. That doesn't stop me from being pissed off at the useless drones that call themselves public servants in Australia. I don't include the ones at the coal face such as the police, paramedics and health professionals who do a thankless job with the ferals.

Negative gearing is a sacrifice? BS. It's a tax rort which benefits the top 5% of the Australian population.

Why do you think many Federal Liberal MP's own multiple properties?

I have a Thai GF, and we are happy together. I would like to marry her. However, sacrificing $200 a fortnight for a meaningless piece of paper offends my sense of logic.

IF Centrelink find you are living ina domestic relationship, you have to PROVE you are not a couple in the "defacto" relationship, deemed the same as a married relationship irrespective of gender of the domestic partner

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On 12/9/2018 at 9:25 PM, Pete1980 said:

So the OP I assume by his asking if his fake wife can be a “dependent” so he/they can bludge more money from the Aussie taxpayer? 

 

And Lacessit is calling centrelink skinflints for saving that same taxpayer for not paying his rent in tropical Thailand despite receiving enough handouts from the taxpayer to live off?

 

Welfare should be restricted to those in need, like the disabled.

 

The more you give them, the more they want. Abhorrent. Shameless.

 

Does anyone know, if I take a bargirl back to Australia with her kids, can I get the dole, can she get the dole and will the government pay for her kids, and of course get free education and medical??

 

The UK seems to be Handout Central. Then Norway.

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12 minutes ago, 4MyEgo said:

David while I appreciate your input, can you refrain from becoming facetious, we all put our views forward for one and another to mull over, i.e. no need to accuse me of BS.

 

If you have over an amount of x $ in the bank Centrelink start reducing your pension, $161,000 sounds about right as the other poster mentioned. I will look into this, the $470,000 assets I also have to look into, because I know if one owns a property to the value of x they are ok.

 

Keep it simple, stupid 🙂

 

  If you allow rubbish to be posted on this site I will tell you....if you like you can suspend me now for the 7th time if you like for me telling the truth about AAP matters...The asset level threshold is presently $465,500 as shown on the Centrelink web site.  It is clear your moderators who know nothing about the Australian Aged Pension (AAP)...if you want to know something ask me...I will not now be making any further contributions on this site on this subject.
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4 minutes ago, HAKAPALITA said:

The UK seems to be Handout Central. Then Norway.

First off good luck getting a visa for her and the kids to enter Australia let alone remain in Australia, or even a tourist visa these days.

You may have to lodge a hefty bond with immigration of about $20k each to make sure they leave at the end of the visa period.

You will also have to prove they can afford health care while in Australia, as no reciprocal agreement with Thailand.

 

 

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3 minutes ago, David Walden said:
  If you allow rubbish to be posted on this site I will tell you....if you like you can suspend me now for the 7th time if you like for me telling the truth about AAP matters...The asset level threshold is presently $465,500 as shown on the Centrelink web site.  It is clear your moderators who know nothing about the Australian Aged Pension (AAP)...if you want to know something ask me...I will not now be making any further contributions on this site on this subject.

The "family" home is not counted as an asset in the scheme of Centrelink assessment, but if you are deriving income from it , then that is counted.

Superannuation is also not counted as an asset.

 

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3 minutes ago, RJRS1301 said:

The "family" home is not counted as an asset in the scheme of Centrelink assessment, but if you are deriving income from it , then that is counted.

Superannuation is also not counted as an asset.

 

Superannuation (in the pension phase) is classed as a financial asset and is assessed in both the income and assets tests for the AAP.

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19 hours ago, David Walden said:

You will get the full married rate about $720/p/f if you have lived in Aus for 26+ years. 

If you have over 150K in a bank, married to a Thai and on a pension, you will get $644/p/f. You will not get a full pension of $720. That is incorrect. I know, because that is what I get paid.

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9 minutes ago, RJRS1301 said:

The "family" home is not counted as an asset in the scheme of Centrelink assessment, but if you are deriving income from it , then that is counted.

Superannuation is also not counted as an asset.

My very very last post...both of these comments are rubbish.  The family home is not counted as an asset but it significantly reduces your asset Threshold for a single of $465,500 to about $258,000.  The only thing which is not counted as an asset is the family home you live in.  Super is an asset like any other asset you have and the threshold is at 01/07/2018 is/was $465,500.  Any amount above this level the AAP reduces at $3 per $1000 of assets per fortnight and peters out at about $770.000 where you get nothing from Centrelink  Gaud stiffen the crows!!!.  I have put all this stuff on this site a hundred times.

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37 minutes ago, RJRS1301 said:

IF Centrelink find you are living ina domestic relationship, you have to PROVE you are not a couple in the "defacto" relationship, deemed the same as a married relationship irrespective of gender of the domestic partner

How is Centrelink  going to establish this for a defacto couple in Thailand? A marriage in Thailand has a paper trail. There is absolutely no connection on paper between me and my GF.

For Centrelink to establish a defacto relationship, we have to be living under the same roof according to their rules. My GF has a house in a village near Chiang Rai. I rent a condo in Chiang Mai. Again, no connection.

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39 minutes ago, David Walden said:
 It is clear your moderators who know nothing about the Australian Aged Pension (AAP)...if you want to know something ask me...I will not now be making any further contributions on this site on this subject.

With respect, I was disappointed that "I will not now be making any further contributions on this site on this subject" was not true.

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2 hours ago, LosLobo said:

I just grabbed the following links randomly from Google.

They will help you understand deeming and the income/asset tests.

https://www.noelwhittaker.com.au/resources/calculators/deeming-calculator/

https://www.noelwhittaker.com.au/resources/calculators/age-pension-calculator/

Thanks for the links LosLobo, very informative and have to give credit to that cranky TVF member David Walden who is obviously very passionate about knowing his stuff, he is correct in stating that: The numbers for non-homeowners are $465,500.

 

I put that amount in one of the links (deeming) and it said I would make $8 a year so no skin off my nose there and if all was in order, i.e. I got divorced from the Mrs and only had $465,500 as a non homeowner, I would receive the full single pension with supplements about $900 plus bucks per f/n, sounds fair to me, just got to go and sit it out 2 years beforehand, apply and then catch the next flight out after all is approved.

 

Will have to get a divorce kit and complete it, lodge it and then get the Mrs to enter the country about 4 weeks after I have flown in, that or she stays low in Thailand for a little longer, but can't see that happening as we dig each others company and have kids.

 

Anyways got to start planning, thanks for everyone's input, including Cranky Dave's 🙂

 

 

 

 

 

 

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42 minutes ago, 4MyEgo said:

I just put in some different figures as a Couple Non-Homeowner and got these figures

 

300K - $690/p/f/n

500K - $690/p/f/n

800K - $382/p/f/n

1 Million - $82/p/f/n

 

Nothing to sneeze (be better if single) at if you are in the country at the time or like myself, got pensioned off

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46 minutes ago, 4MyEgo said:

Thanks for the links LosLobo, very informative and have to give credit to that cranky TVF member David Walden who is obviously very passionate about knowing his stuff, he is correct in stating that: The numbers for non-homeowners are $465,500.

 

I put that amount in one of the links (deeming) and it said I would make $8 a year so no skin off my nose there and if all was in order, i.e. I got divorced from the Mrs and only had $465,500 as a non homeowner, I would receive the full single pension with supplements about $900 plus bucks per f/n, sounds fair to me, just got to go and sit it out 2 years beforehand, apply and then catch the next flight out after all is approved.

 

Will have to get a divorce kit and complete it, lodge it and then get the Mrs to enter the country about 4 weeks after I have flown in, that or she stays low in Thailand for a little longer, but can't see that happening as we dig each others company and have kids.

 

Anyways got to start planning, thanks for everyone's input, including Cranky Dave's 🙂

 

 

 

 

 

 

I don't think you understand. If you have financial assets of $465k you will not get the full pension. 

 

David's statement about "The numbers for non-homeowners are $465,500" is incorrect.

 

 

 

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10 minutes ago, totally thaied up said:

I just put in some different figures as a Couple Non-Homeowner and got these figures

 

300K - $690/p/f/n

500K - $690/p/f/n

800K - $382/p/f/n

1 Million - $82/p/f/n

 

Nothing to sneeze (be better if single) at if you are in the country at the time or like myself, got pensioned off

That is each you realise, x 2 (each) per fortnight 🙂

 

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1 minute ago, LosLobo said:

I don't think you understand. If you have financial assets of $465k you will not get the full pension. 

 

David's statement about "The numbers for non-homeowners are $465,500" is incorrect.

 

 

 

Your right, "I don't understand"

 

Why are the sites saying the threshold for non homeowners is $465,000 then ?

 

Then you have the other one asking how much you make, naturally you put in $0 and it tells you what you are going to get.

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1 minute ago, 4MyEgo said:

Your right, "I don't understand"

 

Why are the sites saying the threshold for non homeowners is $465,000 then ?

 

Then you have the other one asking how much you make, naturally you put in $0 and it tells you what you are going to get.

Basically that $465k threshold is for the person who doesn't have many financial assets.

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2 minutes ago, LosLobo said:

Basically that $465k threshold is for the person who doesn't have many financial assets.

So a non homeowner who has $465,500 or less gets the full pension right ?

 

If you put single, no to homeowner and $0 as income and $465,500 in the 2nd site you provided me with earlier, it says you will receive $916.30p/f

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