NO!!! and provided you qualify by Centrelink requirement it is yours no matter in the world where you live. In fact, Centrelink will remit your pension to any country you live in every 4 weeks at their expense less the AAP supplement for about $2,000 p/y, you will get about $27,000 p/y. You are not covered by Medicare, and you will not get rent assistance, not get fuel allowance and many more benefits of a total value of about $10,000 each year. PS... all this information is on the Centrelink website in Australia...it would be prudent if all recipients and prospective recipients study it. It is likely where all your income comes from.
In Australia the tax-free threshold for Australian Aged Pension (AAP) recipients is $35,000,p/y the AAP is mostly tax free,, before this you pay nothing. As you are now over 67 y/o. Super after 2015, it is taxed by the Federal Govt at $15% before the dividends are revealed. there is no way even the Super investor can know how much tax they paid. My super before 2015 is grandfathered it is promised to be so whilst I am alive, I do not have the 15% deducted before dividends are distributed. How will Thailand find this out as the policyholder does not even know themselves.
Greta Guy....Clearly, you have no understanding of the Australian Aged Pension (AAP), so I'll tell you. To get a full AAP of about $29.000 per year including the AAP supplement of $2000 you need to be resident in Aus for 35 years from the age of 16 y/o to 67 y/o and have had to have lived in Aus for over 10 years. provided your additional investments do not exceed $545.000 (about to go up a bit), if they go over this amount you will lose 50 cents in the dollar for each $1000 of your pension. This means you will no longer receive any AAP when your assets exceed about $900.000 and if you live overseas from Aus after 6 weeks of absence you will lose the $2,000 P/Y supplement. Thus leaving you with about $27,000 per year. Provided your assets and income are under the threshold you can have up to that $545,000 and invest it as you wish. 80% of people in Aus keep it in Superannuation as the tax is removed from your fund before the dividend is distributed. This leaves you with no commitment to pay any taxation on your AAP or investments if you have up to $545.000 invested (your money). No more putting in tax returns if over 67 y/o unless your assets are over the $900.000 peg out time.
e.g...If you have an AAP in Aus and $200,000 in a superannuation fund or else, after 6 weeks of living in Thailand you will get $27,000 AAP (being less $2000 AAP supplement) and be required to take a prescribed deduction according to your age of about $12,000 p/y extra. That describes my situation and about 2 million other AAP recipients who live in Aus. The AAP once granted is for life and it matters none where you live in the world provided your assets do not exceed the assets or income level.
Well on this trip to Thailand, I only decided to go for 2 months and booked accommodation and a plane ticket too early for those 2 months. Now that the visa you get on arrival is available I'll be staying for 3 months next time. I previously obtained a 30-day extension at Blupoint Shopping Centre Immigration Hua Hin for Bt1900. It's now a bit easier??? and lots of smiles (LOS).
One word only...rubbish. You only lose the AAP supplement after 6 weeks. $2,000 per year, provided you are within the financial Centrelink threshold...sorry.
I am not sure how you are calculating Lena. Any Australian over 67 y/o who qualifies for a full Australian Aged Pension (AAP) and a modest amount of Super can live usually quite OK forever in Thailand even with the AAP not as good but OK to good. Bht 12,000 a week, That, is almost enough to get a retirement visa in Thailand. If you had a regular job in Australia for 35 years your compulsory contributions would easily pay for your Thai Retirement Visa. Perhaps you did not save much...sorry.
...I only comment on matters in Thailand that I have personal experience with. I'll be back in LaCalista Hua Hin in 11 days very soon. Thailand this time only for 2 months as I made my bookings before the visa on arrival went from 30 days to 60 days. Next time it will be back to 60+30 extension visa on arrival. By then Thailand may have changed things again. Cambodia and the Philippines ahoy. TIT.
I own a house in W.A. with my former wife, she lives in it and I do stay there sometimes. I also have some super retirement funds under the threshold of Centrelinks limit of $545,0000. I also have some savings in ING Bank Australia getting 5.5% interest. So I get mostly the $1116.30 P/F Australian Aged Pension (AAP) $12.000 download from my super as I am required to take it or pay 47% tax if over the required amount., $3000 each year from my savings. In my 3-month trips to Thailand on average, I still get 50% of the AAP supplement, about $40 P/F. I get the single rate of AAP as my ex-wife and I are legally separated Cenrelink's "Living under the one roof separated" is all above board., Anyone in Australia who has lived in Australia and had a regular job for over 35 years is likely to get the same deal from the Australian Government at 67 y/o if you have always had a modest regular job and raised 3 kids...I'm now 82 y/o and still going strong, and I always do my 6 km walk every day for 60 mins. Been doing that for 47 years almost every day... At 82 y/o I'm still going strong and love the LOS. Except for 2 periods when I obtained 2 retirement visas in Aus from the Thai Embassy, I have used tourist visas, I have flited to and from W.A. to Thailand regularly over 15 years.. My AAP and other benefits give me almost $1000 per week free of income tax in Aus. I'm nearly convinced that I will receive the same deal with no tax if I live longer than 6 months in Thailand...but not sure yet. I still love Thailand with all its issues. TIT.
You have not revealed how old you are or if you are over 50y/o and have some money it could be better for you. With a retirement visa if you are over 50 y/o, you could stay for ever. (there are ways of avoiding paying Bt800,000??) If learning deep diving and Bt500,000 you could stay for up to 5 years on a DTV but you need to prove you have at Bt500,000 and apply at a Consul. You will not be allowed to work in Thailand. ????
Colin Boyland... I would be very careful of revealing what you have done with your house and money if you have sold or given away the money. It appears you have divested yourself of a house. For Centrelink purposes, you may still be deemed to have over $850,000 in deemed assets which may make you unsuccessful in qualifying for the Australian Aged Pension (AAP)...I beg you to get legal advice. please!!!