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Thread: Can you survive..............

  1. #1
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    Can you survive..............

    Hi there
    I know this has been discussed before,but can you survive in Thailand on the Australian pension or,Sickness benefits?
    I have some savings and small amount of Super to draw on to supplement watever Pension I'll get,+ if I moved to Thailand I got two rentals to rent out here,perhaps sell 1 and keep the other for later investment,
    With the pension can you still receive it whist living in Thailand or do you lose part of it ,as I was told by someone down here.And what's the reason behind doing border runs as far as Visa's are concerned?
    Any Info greatly appreciated

  2. #2
    ประเทศไทยเพื่อน Founding Member Thai Dreamer ผู้เพ้อฝัน Changone's Avatar
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    It really is a balancing act when you are talking about pensions and rental property income to sustain your expat lifestyle. Governments are reigning in benefits and ramping up restrictions and exclusions on pension benefits all the time. If you've got a couple of rental properties, good on you. Big problem I found was keeping an eye on things from afar. Things always seem to go more wrong the further you are away. What is it about residential rental properties anyway? A good balanced shares and fixed interest portfolio would give you far less grief.
    And where the hell was Biggles.....?....when you needed him last Saturday....?

  3. #3
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    Thanks ,but I would probably keep one rented out,just in case things went sour for me in Thailand ,would always have a place to go home to.

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    Bepp, rentals can be run remotely but there are a few things you need to do it successfully we think.
    You do need to go back 3 - 4 times a year although with 2 rentals and the right set up you may get through with 2 - 3.
    Trips back may suit with visa requirements.
    Good info on Visa's from guys on this site for someone Australia based.
    We have had zero success with property managers and handle everything ourselves (although we appoint a manager as required by law)

    If you are considering it seriously email us direct.

  5. #5
    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน slampay's Avatar
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    Quote Originally Posted by bepp View Post
    Thanks ,but I would probably keep one rented out,just in case things went sour for me in Thailand ,would always have a place to go home to.
    So if things went bad for you in Thailand, you would just kick your renters to the curb?? Maybe they have family's ect. Nice.

  6. #6
    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน Dupree's Avatar
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    Quote Originally Posted by slampay View Post
    So if things went bad for you in Thailand, you would just kick your renters to the curb?? Maybe they have family's ect. Nice.
    Don't be douche Slam. It's his property to do as he wishes. This ain't Frithco FFS....

    And good on ya Bepp...
    I just girl in bar. Buy me one dink?....

  7. #7
    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน Zablive's Avatar
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    Centrelink:-

    Changes to your payment if you leave Australia from 1 January 2013
    If you are planning on leaving Australia on or after 1 January 2013 the rules about getting your payment overseas may have changed. Refer to your payment below to see how these changes may affect your payment.

    To get your payment while outside Australia you must continue to meet the qualification rules for that payment. You will also have to tell us about any changes in your circumstances while you are away.

    The information on this page provides a guide only. There are other circumstances which may also affect your payments while outside Australia.

    Contact us if you're planning to leave Australia so that we can let you know how your payments will be affected."

    Go and see them - it can be quite complicated with both income and assets considered.
    One can continue to receive the Age Pension overseas providing you lived in Australia for 2 years before or after it was granted.
    You lose some living allowance benefits.
    The Pension amount received will be reduced proportionately by income received.
    I don't know about receiving sickness benefits overseas - aren't you supposed to be on a treatment program in Australia?

    Can you live on the pension here? - Yes you can survive (outside of the P4P areas) with a modest lifestyle.
    You need some start-up money for capital expenses.

    As I said - go and see Centrelink as there are definite dates and qualifying periods to be met.
    They have Financial Services officers to help.
    Last edited by Zablive; 4th December 2013 at 09:32.

  8. #8
    The artist formally known as Wabbits Thai Dreamer ผู้เพ้อฝัน wabbits's Avatar
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    Have lived in BKK and Patts at better than a modest lifestyle for roughly the pension amount.
    Eat out drink out where ever true mostly Thai but quite often a farang breaky I did not suffer from life style.

    To put it into context if I pursued the same life style here in Perth it would cost say 5+ K as apposed to about 1300.00 a month for 2.
    I think if I was single would spend more but my liver might not be so happy.

    The other thing is at my age health issues are not big concern but as we get older that has to be taken into account.
    Out living arrangements were simple 1 bedder with aircon and pay TV but they only need to be as you dont eat at home more for watching tv and sleeping we were out a lot.
    Last edited by wabbits; 4th December 2013 at 15:20.
    .

  9. #9
    ประเทศไทยเพื่อน Founding Member Thai Dreamer ผู้เพ้อฝัน Changone's Avatar
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    Do you have a self managed superannuation fund?
    If so you can only ever be out of the country temporarily.
    Selling up and going OS may mean your fund loses all tax benefits.
    Beware.
    And where the hell was Biggles.....?....when you needed him last Saturday....?

  10. #10
    Uber Star Soi wanderer Uber Dreamer ผู้เพ้อฝัน Nubbins's Avatar
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    Quote Originally Posted by bepp View Post
    And what's the reason behind doing border runs as far as Visa's are concerned?
    Any Info greatly appreciated
    Visa runs are necessary for people living in Thailand who can't qualify, or who choose to not qualify for a longer stay visa type such as Education or Retirement.

    In general, the standard visa types have a limit of 90 days stay per entry into the Kingdom. A visa run involves leaving and re-entering the Kingdom in order to get a fresh 90 days of entitlement to stay.

  11. #11
    Uber Star Soi wanderer Uber Dreamer ผู้เพ้อฝัน Nomad's Avatar
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    Bepp...if you have two rental properties, super and savings, you may be pushing the asset test limits resulting in a reduced or no pension.
    "Don't wait around for your life to happen to you. Find something that makes you happy and do it. Everything else is just background noise." George Mason

  12. #12
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    Quote Originally Posted by slampay View Post
    So if things went bad for you in Thailand, you would just kick your renters to the curb?? Maybe they have family's ect. Nice.
    No slampay,i wouldnt,in our part of the world even renters have rights.

  13. #13
    ประเทศไทยเพื่อน Founding Member Thai Dreamer ผู้เพ้อฝัน justcruzing1's Avatar
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    Bepp,
    the biggest thing is that everything is fluid, in motion. The government is changing the rules and goal posts all the time. The strength of the dollar is up and down etc.

    I think you need the advise of an accountant, Changeone is a good one. But you also need to set your budgets at what you see today and then budget to cover if there is no pension. Yes you may get it for the next 5-10 years then it could stop or be halved.

    Then there is the exchange rate, look at the old Poms that went to LOS when they were getting 80bt to the pound, now they are getting 38-42bt. The other thing mentioned, is medical, these same guys are unable to go visit a doctor or hospital, they don't have the money to go back to UK and would have to wait to get medicare if they could.

    Not saying don't do it, just raising some things to make sure your covered. I have several expat friends, some of the things they never thought of is having to come home for a very ill family member, or funeral.
    With their investment property, they didn't allow enough for depreciation, replacement of fences, hot water, ovens etc.

    You may say, yes but I have family and friends that will help with those things, nephew is a fencer, mate is an electrician etc. Let me tell you, when you are so far away, and they haven't seen you for 12 months, and are busy at their own work, you will quickly learn you come last.
    This means you either loose tenants or pay the agents tradesman.

    Don't think I'm negative, i hope and want you, and all of us to get to live the dream, just don't want it to turn into a nightmare because of not going in wide eye's open.
    "Of course you love me darling, I handsome man 55555"

  14. #14
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    Go see a retirement adviser, thats what i did but im still a few years off and the reason was to prepare for that day, i got some useful information and ideas on how to structure my affairs.

    As for the aged pension it is available to a citizen who meets the assets test and has resided in Australia for a minimum of 2 years before applying, once you have applied and received your approval followed by at least 1 payment you can quickly decided to move overseas, notify centerlink and i believe you can nominate an overseas account for your pension to be deposited into.

    Your rental properties (assuming there in your name) and the rent will all be factored into the mix, at best you may qualify for a part pension.

    Good advice further back, i wouldnt hang on to the rentals, better ways to manage your money.

    Of course with the changing landscape over social security entitlements the current gov may make changes but i think highly unlikely with the backlash of the grey vote.

  15. #15
    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน Chob's Avatar
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    Does anyone know if the 'Two Years' have to be 2 Full years , or can be 6 months and 1 day ( ie the majority of a year , twice) to get the pension?

  16. #16
    ประเทศไทยเพื่อน Founding Member Thai Dreamer ผู้เพ้อฝัน Changone's Avatar
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    Quote Originally Posted by Chob View Post
    Does anyone know if the 'Two Years' have to be 2 Full years , or can be 6 months and 1 day ( ie the majority of a year , twice) to get the pension?
    Presumably you mean the two year rule as it applies to a "Returning resident".
    In that case there are no shortcuts.

    1 : You must be returning to reside in Australia "Permanently".
    2 : You cannot then leave (Permanently) again for at least 24 months.

    It helps if you can maintain your "Permanent" Australian residency so you don't have to be reassessed as a "Former resident".
    Pension rules are complex and there can always be some exceptions as the pensions people have to "Determine" residency using a broad range of factors. (See "Any other matter we think is relevant")

    From Centrelink

    Living in Australia
    You are living in Australia if Australia is your usual place of residence. That is, Australia is where you make your home.

    When we are deciding whether you are living in Australia we will look at:

    the nature of your accommodation, and
    the nature and extent of your family relationships in Australia, and
    the nature and extent of your employment, business or financial ties with Australia, and
    the frequency and duration of your travel outside Australia, and
    any other matter we think is relevant


    And where the hell was Biggles.....?....when you needed him last Saturday....?

  17. #17
    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน Chob's Avatar
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    ^ Cheers C1 ...Im not puting up with Australia for 2 whole continuous years , so no pension for me .

  18. #18
    Thai Dreamer ผู้เพ้อฝัน
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    Quote Originally Posted by Chob View Post
    Does anyone know if the 'Two Years' have to be 2 Full years , or can be 6 months and 1 day ( ie the majority of a year , twice) to get the pension?
    a comparison on rules with NZ, as my older brother found out - and I'm very aware being in a similar situation, I am starting collecting 'time' from next month.
    to qualify for pension he had to be living in NZ for minimum five years between the ages of 50 and 65; and they count it by the day. Holidays don't count - it's what they consider as 'residency'
    He didn't have the required time and will have to wait beyond his 65th for any payment.

  19. #19
    Uber Star Soi wanderer Uber Dreamer ผู้เพ้อฝัน Nubbins's Avatar
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    Quote Originally Posted by Chob View Post
    ^ Cheers C1 ...Im not putting up with Australia for 2 whole continuous years , so no pension for me .
    I'll bail out back to Oz for an Age Pension if/when my super pension fund runs out. Hopefully I won't need to worry about it until I'm in my 80s - if indeed I last that long.

  20. #20
    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน Zablive's Avatar
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    Quote Originally Posted by Nubbins View Post
    I'll bail out back to Oz for an Age Pension if/when my super pension fund runs out. Hopefully I won't need to worry about it until I'm in my 80s - if indeed I last that long.
    It better be two years before your super fund runs out Nubbo! 555!

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