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Whey aye

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  1. Whey aye

    Concessionary Super payments

    I forgot the important piece of info.You need to download and print off the form from your super fund to say you are claiming the contribution as a deduction.Or ask them to post one out to you. The form is simple,your tax file number,super account number,and Super name and their USI number,and how much you are contributing and claiming as a deduction.Send it back to them and they forward it to the tax office.They will send you a letter ( your super fund) confirming that you have claimed a deduction. If you do not fill the paperwork in then the $20K will be taken as an after tax contribution .15% tax will not be taken out of it and you cannot claim it as a tax deduction.
  2. Whey aye

    Concessionary Super payments

    You can pay in $25K.This includes your employer contributions.Tax is deducted @15%. So if your employer pays $5K in you can pay in $20K.The $20 K can then be claimed as a tax deduction. Be aware that if your income is low then the $20K may take you below earnings of $37K annually.Then the tax saving is pay 19% tax on earnings between 18200 and 37000,or pay 15% tax on it paying it into super.If your taxable income falls below 18200 pay nothing in. You need all the deductions to be in the 37K and higher earnings. For example if your gross is 60K and you put in the 20K then you pay 15% tax on that,or 32.5% plus Medicare levy by not putting it in . Your taxable income will be $40K
  3. Whey aye

    'trivial commutation and aged pension

    Hiya I' ve just done one that is trivial,a pension from an engineering company in the UK from the early 1970's. Gross amount around £1200,I've put the paperwork in a safe place so I'll never be able to find it again,that was only last week. I think it was first 25% tax free,then I paid 20% UK tax on it. Roughly ended up at around £190 tax and I got £1090 paid into a bank account in the UK.They sent me the UK/AUS double taxation agreement to claim the tax back from the UK,as I pay tax in Australia still on my retirement income. The form is around 7 pages,what date I left the UK etc,etc.For me it is easier just to fill in my tax form as£1090 and then say I have paid £190 in the UK.The tax office here will then take it up to the 45% that I will pay on it If your dad can claim the UK tax back then he will have to fill those forms in,and I take it be taxed on it here at his Australian marginal rate. No idea for putting it into super,that is when a working knowledge of these things can be dangerous,rather than expert knowledge. The number on the form to ring for the taxation is + 44 135 535 9022. Website is .gov .UK search for double taxation HMRC PAYE self assessment BX9 1AS UK. Again general knowledge rather than specific, he may not be able to put it into super here ,failing the work test. Sorry to hear about his cancer Good luck When I got mine the trivial is box 2 and 3 ,they are much the same and must be under £30,000 pensions excluding the UK state pension. I think the trivial only applies to UK income,not living overseas.
  4. Whey aye

    UK State Pensions

    Very roughly when your friend emigrated you needed 44 years in to get the pension. If the pension was £ 44 a week when she retired and she had 16 years of contributions then she gets £ 16 a week pension forever. Somebody that retired later with exactly the same full years ,if the pension was £88 a week they would get £32 a week. Doesn't matter how much you paid in.The govt would credit married women unemployed and various other scenarios as paying full contributions. You now need 35 years in to get full pension.Contribute for 20 years you get 20/35 of the full pension Something strange with the nephew,you need 10 years in to get any pension.You need more information from him. I don' t keep up with it but the system is simple.Now, divide the pension by 35, multiply that answer by the number of full years you have in. If they change it in the future then they change it. At the moment I think it is still positive,I e they collect 100 billion in NICS and pay out 99 billion in pensions.Forecasts are like all first world countries,they will pay out more than they collect with people living longer. That is bad,health care costs for an ageing population will probably be crippling. Thus all changes going on.Those numbers are made up to explain it.UK Office of national stats will give you trailing figures I e 33 million workers ,13 million pensioners.
  5. Whey aye

    Buying house as international student

    You've probably got the wrong idea about renting. Rent or interest you still pay.Renting for two years @say $400 per week will cost you $41,600.That's it. Buying will cost you say $500K x4%x2 is $40K.Plus stamp duty,insurance ,rates,maintenance,and a lot of other costs. You can lose a fortune buying a house for the short term,depending on what markets do. A $600K house taking a 4% drop over 2 years can cost you a couple of hundred thousand after taking in costs and interest. Rent is never wasted money in the short term.
  6. Whey aye

    Thai Resort / Dubai

    The tourist bus for Hua Hin etc leaves at gate 8 at the airport. If you go through Singapore then depending which airline you travel with the 22 .40 ish plane to London is the Melbourne ( or Sydney) flight.The 23.15 ish is the Sydney ( or Melbourne) flight to London.Get the early one,usually an A 300 ( 900 ) rather than the A 380.I don' t like them but personal preference. Get to London 6 to 6.45 am for connections UK wide .That's the BA / Qantas code share. We'll be in Singapore and Pattaya in about 3 weeks time.People from the UK that I went to school with.Wives etc having the over 65s knees up and requesting Stairway to Heaven and Smoke on the water for the bands to play.Good fun usually.
  7. Whey aye

    Thai Resort / Dubai

    What do you want to do in Thailand,quiet/ noisy. Lived/ worked there for a few years. Hua Hin is good for a quiet holiday,a kind of German/ Swiss retirement village so good Thai and German food.Rapidly expanding though. Pattaya is noisy and can be very overpowering.First and second road are now Indian/ Chinese mainly after the Russians were kind of kicked out. British etc are on 3 rd road,soi buakhow.Live music and some good eateries,Thailand is renowned for food.Sadly the street food culture is gone.Loved just eating Thai food on the street. Bangkok has excellent transport using the sky train,buy a daily ticket,3 headed elephant park at Samrong is good.Kings palace and temple of the emerald Buddha are a must Thailand is a place people love or hate,it can be very overpowering,especially Bangkok. I like Chiang Mai in the north,if you haven' t been to Thailand before then guided is best. Been going there for work/ stopover from around 1980.Google Bangkok skytrain and it will give you the train stops and sights to see at each stop.The underground duplicates the Sky train mostly Skytrain runs from the airport to a station near Victory monument( forget the name of it) then get around the sky train system from there.Main tourist is Asoke and Nana stations on Sukhumvit road. From the airport there is a bus service to Hua Hin ( 3.5 hours ) and Pattaya ( 2 hours down the tollway ). There is a ferry from Pattaya across the bay to Hua Hin,2 ish hours if I remember rightly. I' d be giving the middle east a miss.Go to Singapore from Bangkok.Then on to the UK. Google Geylang for Singapore hotels.The station is Aljunied and then use the Singapore transit system to get around.Chinatown ,Harbour front ( for Sentosa / universal studios etc).Go to Haw Paw ( tiger balm ) gardens.You need to change stations a bit in Singapore for different lines but the system is excellent and around S$4 for a return to anywhere.
  8. Whey aye

    Labour's Election plans for Pensions affect you

    Yes,you'll be right.I think they changed it in 2015 ish. I got the paperwork off them probably 15 years ago.You could make up six years then at roughly an average of just over £ 300 a year,give or take £ 2K was 6 years contributions.You paid class 1 then,it was a problem for class 2. Once they changed it then self employed or employed overseas you paid £3 a week for class 2 or £15 for class 1. Baffled me for 40 years here,if I work overtime the tax man takes every cent,no they don't.If I pay into the UK pension then the Australian govt will cancel my Australian pension,no they don't . Just grasp the basic and it is easy.Pension $36K and they think it is great ,full pension,tax free.Without going through the whole thing earn $20 K on top of that and the govt take S10K.You have $46 K a year to spend,more than that actually. Any financial planner should be telling people get to pension age and get divorced.Married pension $36K two single pensions around $23K each is $46K.All they seem to see is ,the govt will take more money off me so I must be worse off. We get nothing at all,the tax bill is more than the married pension is,it is great.No dealings with the social security system,paying that much tax in retirement means a net six figure income.Then super and UK pension on top of that. When I did keep up with it all it was amazing how many people would tell me how silly I was,they tried to get as much pension as possible.I would be sorry because I would get no pension.Amazing,retired,on a high six figure net income and they still can' t work it out,still you must be better off by not paying tax and trying to get as much pension as possible so you can get the cards.
  9. Whey aye

    Labour's Election plans for Pensions affect you

    I am baffled why people think like that,it is obvious you are better off.An Australian pension will reduce by 50 cents for each dollar over around $ 300 per fortnight,single is $174 per fortnight .Earn $180 per fortnight and your pension will reduce by $3 per fortnight,not $180 as you seem to think. The other strange one is people saying I will get a pension with assets of $850,000.This is wrong,you will get a part pension,of around $75 per fortnight,the pension begins to cut out with assets of $360,000 for a married couple. I do a bit work to help people out on this so don' t really keep up with the exact figures You will never get a better bargain in your life than paying class 2 contributions.For an outlay of £ 3 per week you will get around £ 4.80 per week for the rest of your life.Put a different way pay back the 10 years of class 2 at £1560 ( 3x52x10 ) and you will get £48 a week pension,or £2496 a year for the rest of your life. Live for 10 years after retirement your £1560 contribution will return you £24,960.Live for 20 years and the return is £49,920. Mad not to do it.
  10. Whey aye

    Metal fabricator technical interview

    Long time since I retired but in general stick ( smaw) would be DC + ve for low hydrogen ,sometimes DC -ve for root work. 7016 ( Kobe rods) for root work and 7018 for fill and cap. GP and iron powder are AC,DC is too hot for them on positive. Zirconiated tungstens for AC work on TIG ( aluminium).Think of the name Zac.Thoriated obviously for DC ( - ve). 2/3 of the heat is on the positive pole,1/3 on the negative. USA works the opposite way to the UK for straight /reverse polarity,very confusing on the old Lincoln machines where they are marked straight or reverse,not +ve or -ve. MIG/MAG would be electrode positive,running argomix 80/20 for mild steel,I think it is called migshield now.When I started many decades ago CO2 was the only gas.That is deep penetrating,whereas argomix is smoother and better wetting on the toes of the weld FCAW also positive pole,some wires do run negative,rarely used. Procedures will give details anyway. Depends how high you want to go,I had City and Guilds and Technicians in the UK,and Cert 10 pressure vessel supervisors here and NDT certs. Tried to forget everything once I retired Shouldn' t be too difficult. When I came here I had ASME 9 6G and 6GR for stick and TIG way back in the 1970s.They just looked at trade papers and where you served your time then.
  11. Whey aye

    Medical refusal 186 (akrolosing spondylitus

    Perhaps the cost they are factoring in is the medicine ( tablets) that cost around 30K a year. Mine was diagnosed in my mid 60's,so late in life.No real problem just stiffness The specialist I have to see once a year tells me to do a test to see if I qualify for the 30K tablets.I just say that I have no pain,movement is restricted a bit but otherwise fine,why try to get those tablets.I am quite happy as it is,no pain whatsoever.The tablets don't reverse the calcification so I think they are just super duper anti inflammatories for pain that is not there. Can't help with the visa bit but that is probably the cost they are looking at Keep up with the gym etc as that really slows it down. As I am retired I have all the time in the world for exercise.If I didn't have A S I would feel 18 again. Good luck
  12. Whey aye

    Australia Prices cheaper now than in 1901

    Everything is cheaper. The human race spends every minute thinking how can we make rubbish more expensive,how can technology make everything worse and more expensive Or the human race tries to make things better and cheaper,technology is used to make things better and cheaper. From my youth everybody lived in a council house.TV and radio were things that were rented because they were so expensive to buy.Nobody ever went on an aeroplane,holidays were once every ten year things,it meant a week in a caravan around 50 miles from home,and so on. The difference between 70 years ago and now is unbelievable.
  13. Whey aye

    Taxation Help Tax Return

    I would think it is a scam. You have nothing to worry about.The tax office is not there to screw you and treat you harshly. They are there to make sure you pay the correct amount of tax. Call them tomorrow and ask if they have taken this action against you.They will answer yes or no. After that it is up to you,you can be honest with them,or you can hope the error is not picked up.
  14. Whey aye

    Taxation Help Tax Return

    Depends how they contacted you.If it was a telephone call then it is almost certainly a scam. As MaryRose said don' t be scared to call the tax office ,if only to check that it isn't a scam. Be honest with them, if it is a scam,tell them you want to correct a mistake.They are far more lenient if you are honest rather than they have to find out. The more tax you pay,the better off you are.You earn $1million a year,the tax office takes $450K roughly.You earn $18200 a year no tax.You earn $100K the tax office takes $25K roughly. Which position would you rather be in $550K in your pocket,$75K in your pocket,or telling yourself you must be better off if you pay less tax
  15. Whey aye


    Forgot,you need to be working in Australia to pay the class 2 contributions If you are not working then you need to pay class 1, around £ 750 a year I think. If you can pay class two it is a bargain. The call centre is open 6 days per week from 8 am to 6 pm I think,UK time.