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David Walden

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About David Walden

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  1. Australian Aged Pension

    Thank you as I said I will be making no further contributions to this site.
  2. Australian Aged Pension

    You have deleted my most recent post on this site which was I presume off topic. I was seeking other people experiences in getting the best from an "Non-immigrant O-A M visa" or a "Retirement Visa " issued In Australia. I will be making no further contributions to this site until it is restored.
  3. Australian Aged Pension

    It is fraught with danger if you divest yourself from your excess assets in the few years preceding your application to receive the aged pension. You need to have a good story to tell Centrelink. They may just put the onus back on you that you have not put it in a Swiss Bank account or other places You can get the full Aus pension with $450K + ( no house) of assets in anything and have no worries, maybe super? There is a sliding scale where it goes down to nothing about $600K+. If you are going to divest yourself for what ever reason just make sure every one knows your a lousy businessman and a rotten gambler and you are good friend with a nice bank manager Hong Kong that will do. Mums the word there. People who have modest amounts of investments in super may well be worse of then people who just buy units in an investment fund. The tax threshold for aged pensioners is about $35,000, about $60,000 for couples. Dividend from small investor's units which are not in a super fund would not be taxable if your combined income was below low the $35,000 tax threshold. Profits generated within super are now taxed at 15%. and there is no way of claiming it back if you are under the tax threshold. This a govt trick all done with mirrors? Just a few years ago there was no tax on super. Mine is grandfathered, no tax applies to mine as it was in place before the tax came in.
  4. Australian Aged Pension

    Yes that may work but it's better if you said you blew at the races in Thailand (sorry I've got a problem), people keep on stealing money from me boo hoo. If your assets are suddenly reduced and appear to bring you back to the threshold by more then $10,000 per year or $30,000 immediately to apply to the next 5 years. Centrelink will want to know what happened to it. You can only gift the amounts shown above perhaps if you gave it away this might help. Even if you gift more then $10,000 per year or $30,000 max over 5 years Centrelink will treat this as divested assets and treat the money given a way as still part of you assets. If you own a house and a million dollars and and want an aged pension in Aus, you can give away all but $382,000 to your kids (or anyone) and think you will get the pension, not so. For the benefit of Centrelink you will be assessed as still having $970.000 what you did with it they don't care and will not be interested unless you lost it at the races or went on an extended world tour at $10,000 p/w for 14 months and blew it leaving the $382K . If you give it away they will regard it as an investment (money owed to you) and also deem it as if you were receiving about 2.5% interest on it. If it suddenly disappears they will just regard it as divested and continue to treat it as an asset. You will have to prove you lost it in a card game? I've been to dinner at aThai's house and seen serious money on the able after dinner and all night...tell them that. This is why last year and this year it was very hard to even get a ticket on a pricey world tour holiday anywhere from Australia, you had to queue up to talk to the travel agents. Everyone trying to have fun whilst they could and get their assets down to the threshold ( new reduced threshold). I know I because I was one. You go into Flight Centre and there 20 people in front of you some with a $20,000/100,000 bank cheque in their hand ahead of you waiting to give it to someone. "What's the world coming too"
  5. Australian Aged Pension

    My soon to be next trip to Thailand is with Scoot from Perth to BKK good price Aus$139+16 for meal. They charged me $20 transaction about 15% fee, of the fare (now $175) that was before 1/8/17. From that date they can only charge you the cost they incur from the fee the banks charge which is usually about 1.0% which should now be only about $1.50. on a ticket like this now. By contrast I am returning to Perth from KL in December on AirAsia $92 plus $2.00 transaction fee (real cheap bought this ticket after 1/8/2017)) Train Cha-am to KL for fun. You used to be able to use PayPal for AirAsia to pay for tickets, there was no fee at all, AirAsia stopped that because they were not making any money from gouging customers with disgusting credit card fees. The ACCC (consumer affairs) in Aus seems to have already had an effect on Airlines ripping off customers with outrageous credit card fees. When AisAsia stopped accepting Paypal payments a couple of years ago the credit card fee was about 15% above the price of the ticket this now appears to have stopped?? and is now about 1 or 2% Hmmmmmmm??? Maybe until they think of something else.
  6. Australian Aged Pension

    Neither Citibank or ANZ (0.05%) pay any real interest on debit cards. But Ing Bank presently pays 2.8% if you deposit is $ 1000 or more P/M into your a/c, so Centrelink pension goes there and is then shifted into Citibank as required. I keep my ready cash in ING this amounts to $12 per week and my Ing debit card is another backup. I like back ups. It's very easy to shift money around with on line bank accounts, it cost the Banks money not me and it passes the time of day. I make 3 or 4 trips to Thailand per years the rest of the time I go prospecting or traveling around, I keep all my money in Australia and recently obtained a "Retirement Visa " in Australia for my next trips. I have a campervan and metal detector in Aus and half a house. My wife and I have the same official address and a very good understanding but officially live apart. We are too old to get divorced and anyhow Centrelink helps us with this arrangement.
  7. Australian Aged Pension

    Well that's really good but you can only buy 6 bottles of Rum per year with with what you save, my figures you can buy 42 bottles of rum with the savings?
  8. Australian Aged Pension

    If you click on the link at the bottom which I put in my recent posts it will take you Citibank Australia where all he details and how to open such account and you will have all the details you require. If you ring Sydney they will be nice to you but direct you to the same site I am suggesting. It all has to be done online...good luck and "Save a da money"......see below... 10 years ago after selling my business and having been a customer of Citibank for 25 years I went into a Citibank branch where I banked, said to the teller this letter sounds to good to be true. He got the manager who marched me into his office and opened the account for me ( should be done online). By this time I'd paid my mortgage off. True to his word I have never paid a single cent in bank fees with this account anywhere in the world since, never any other bank ATM fees. some of the other international banks you can get the same type of a/c. https://www.citibank.com.au/aus/banking/everyday_banking/citibank_plus.htm
  9. Australian Aged Pension

    https://www.citibank.com.au/aus/banking/everyday_banking/citibank_plus.htm I have an ANZ bank a/c and a Citibank a/c both are debit cards so you have to have money in them to draw it out. They are not credit cards. I can use both at any ATM in Thailand. If I take out Bt10,000 each time as I do 6 or7 times a month from the usual Siam bank up the road a bit in Cha-am ( usually I buy the guard out the front a coke and a bottle of water each time I use the ATM, he love me so do the bank tellers inside, when is my turn they say. Bloody hot outside I say). If I use the ANZ card it will cost me Aus $25, made up as ANZ $5 transaction fee, 3% of the transaction =Bt 300 and Bt 220 Siam Bank fee which will be added to my ANZ statement when it come in. If I use my Citibank debit card at the same ATM it cost me nothing not a cracker. The ANZ card is a back up only if I loose my Citibank card. By using my Citibank card I save $150/175 each month in ATM fees. It is so much better then the ANZ a/c that no one much believes me...well so be it, I don't care, some people on this site suggest its all rigmarole . I suggest up to Aus $175 P/m is well worth persuing. Just look at the Citibank link I have placed again, it's all there. $40 a week savings, you can buy 3.5 bottles of rum in Thailand with that much
  10. Australian Aged Pension

    https://www.citibank.com.au/aus/banking/everyday_banking/citibank_plus.htm I have put this link up on other posts on this site before about the Citibank a/c I use when in Australia or overseas. If you reads this promo you will see why I have never paid a penny in bank charges in 10 years. Online bank accounts are very easy to open in Aus. I use this type Citibank a/c all the time, you can only open one online. I have a bank a/c with 2 other Aussie Banks as back up, never use them for ATM transactions. Any ATM fees that appear on the transaction dockets from a Thai Bank or anywhere are refunded to my Citi bank a/c immediately as soon as the entry appears. I have never paid an account fee or any fee even when transferring large amount from Citibank to any other bank in the world. These a/c are available to any Aussie who has a TFN and that's just about everyone. Also the exchange rate is better then my ANZ a/c gives me. ( I'll soon have to ask Citibank for a commission for telling people about this). In Aus there are a whole lot of people who just put billions and billions of dollars into no interest banks a/c because of tradition. All money in Australian bank savings a/c account are guaranteed by the Federal Govt up to $250,000. e.g. Ing Direct Bank pays 2.8 % if you deposit $1000. per month (like your pension I do) into an a/c. ANZ pays 0.05% for the same amount ( both are guaranteed by the govt) Ing will pay you $7000 interest a year to keep this $250,000, ANZ and the 4 major banks will pay you $50 interest to keep this their banks. Is it any wonder the the 4 major bank's shares are regarded as the best in the World. They are borrowing money for just about free and are lending it out on home mortgages, business loans and bank cards of up to 20% interest P/A on outstanding balances. There are billions and billions of outstanding balances on credit cards in Aus attracting 20% interest. The Australian Govt was suppose to get a fee from banks to provide the guarantee on savings a/c ...some one forgot to send this billion dollar account to the banks...oh gee sorry we'll write this one off but next time you run up a billion dollar fee you better pay it..OK.
  11. There is no such thing as "bad publicity"
  12. Australian Aged Pension

    Perhaps you should read your previous post and mine again. I am very happy to respond to others polite posts. I'll try and use simpler English in future posts.
  13. Australian Aged Pension

    I have a house in Aus so I can come and go as I like, some day I may move to Thailand forever?
  14. Australian Aged Pension

    Whilst in Thailand I usually take take from an ATM Bt10,000 about 6 or 7 times a month from my Citibank Debit Card, no charges of any type. I also have an ANZ debit card. If I take this same amount out of the ANZ a/c it cost Bt700 or about Aus$25. This adds up to Aus $150/175 p/m. Citibank cost me nothing not a penny. My Centrelink pension is paid into my Citibank a/c. With my ANZ pension fund, monthly payment are topped to my Centrelink pension. I have to have an ANZ a/c to get it my super they will not pay into any other banks a/cs. So I just transfer it on line. Bank charges from many banks including ANZ are often quite outrageous. There is no rigmarole in saving up to Aus $175 per month in international ATM transactions fees. Perhaps you should keep that advice to yourself. No good to me and others I expect. PS the exchange rate with ANZ is never as good as Citbank usually about 1% less, so that is another added charge. PPS I opened my first bank a/c with the ES&A bank in 1957 as a lad (taken over by ANZ in the 60's). My house mortgage many years later was with them. Got a rotten deal then. Transferred to Citibank, much better for my business and lower interest rate saved thousands. Still have my super with ANZ but would cost me thousand to move it. Don't want to because it is the best I can find and my super is grandfathered.
  15. Australian Aged Pension

    https://www.citibank.com.au/aus/banking/everyday_banking/citibank_plus.htm have a look at this. At the risk of repeating myself I use a Citibank every day account (debit Card). Free ATM transactions anywhere in the world, any Thai bank charges shown on the ATM dockets are immediately credited back to your online a/c, free money transfers to any bank anywhere in the world. It cost nothing and is available to any Aussie who has a TFN. it has not cost me a penny in 10 years. Some other bank in the world have similar???
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