Which is the cheapest state/place for retirees in Australia or is it cheaper in the UK?

[flag of convenience]

Well, it is moveable if you wait until after you're 65. If you move,you only lose allowances not the pension itself.

 

Also, you can move almost anywhere in Europe and collect the full Aussie pension no trouble at all. It just seems mad that the UK, of all places, doesn't have that kind of agreement in place.

 

The agreement ceased of course I think in 01. Yes there were on last reading some seventeen countries with an agreement with Australia. I'm actually going to Malta, among other countries next month to check it out as a place for early retirement, and a base for part of the year. Still have a considerable period to go before an aged pension if at all I qualify, and if will probably not make the required years to get it paid in full anyway.

 

The pension I believe is adjusted to those that move to Asia, but there is some debate as to the requirement of two years residence prior to claiming which must be done in Australia. This is rather a new ruling and not fully sure if implemented or not. The last regulations I read did not state this, but was perhaps not up to date.

[flag of convenience]

Yes, but your super is tax free in Australia but will be taxed as income in the UK.

 

Just another impediment to overseas (UK ) location.

[Marisawright]

The agreement ceased of course I think in 01. Yes there were on last reading some seventeen countries with an agreement with Australia. I'm actually going to Malta, among other countries next month to check it out as a place for early retirement, and a base for part of the year. Still have a considerable period to go before an aged pension if at all I qualify, and if will probably not make the required years to get it paid in full anyway.

 

 

In that case it's not an issue for you, and I'd be using your Australian years of work to count towards your UK pension.

[Keith and Linda]

We actually thought about this for a while, doing the 6 month thing, as we quite miss the UK. However, the practicalities would take some working out. You would need somewhere to stay in both places as we have no immediate family in the UK no. Also there is the problem of what to do about cars? I believe house and car insurance are difficult if you are not a resident.

 

Also I imagine it would be difficult to make a proper life for yourself if you were only present for six months in each place, things like friends and joining clubs etc. We also thought about house swaps, but as you say, who would want to go to the UK for the winter as we would want to spend the summers in both places? I know people have done this, but I think it would take considerable resources, not to mention the cost of flights every year. Would be interested to know if you come up with any good solutions.

 

Yes Bridgeman, there is a lot to think about, we have not gone through all the practicalities of things yet as it is some 5 years away and some rules and any health changes may dictate otherwise, but the intent is to do such until health or finances put a halt to things, then we have to decide where to finally settle, the wife more than me, as we will have family in both countries and hopefully grandkids too (only in UK at present)

 

Regarding house insurance, as we may well be letting it out then we were thinking some form of investment/rental property insurance. Car wise, yes we would have a car in each place and probably leave at a relatives place and even have them/us included with any insurance, so they can move/use it if needed.

Air fares would only be one per year and hopefully travel in low season for the better prices.

[Bridgeman]

Yes Bridgeman, there is a lot to think about, we have not gone through all the practicalities of things yet as it is some 5 years away and some rules and any health changes may dictate otherwise, but the intent is to do such until health or finances put a halt to things, then we have to decide where to finally settle, the wife more than me, as we will have family in both countries and hopefully grandkids too (only in UK at present)

 

Regarding house insurance, as we may well be letting it out then we were thinking some form of investment/rental property insurance. Car wise, yes we would have a car in each place and probably leave at a relatives place and even have them/us included with any insurance, so they can move/use it if needed.

Air fares would only be one per year and hopefully travel in low season for the better prices.

 

Yes, I believe that someone posted on another thread that car insurance is problematic and that it is not possible to get car insurance in the UK unless you have a UK licence and that your UK licence is not valid unless you are a resident. Something we were not aware of.

[Fisher1]

This may have changed in recent years, but until ten years ago, you could hold a British driving licence as long as you spent a minimum of six months a year in the country. It was actually spelled out in days for me at the time. You also need a UK address, which you must be living in for the said 178 days or whatever it was.

[Fisher1]

Just a thought. Can anyone tell me which are the best places for retirees within 60-90 minutes of Sydney CBD? Ideally on the coast or near water I'm wondering about finding cheaper property and thinking about the central coast, but don't want to end up in the middle of nowhere. I tried posting this as a separate thread, but despite all the other 'burb' questions that are allowed through, the moderator whipped mine straight into the Sydney forum, from which it disappeared without a single answer. I'm hoping that if I smuggle my question in here it will be left alone! :-) All suggestions considered!!!

[Bridgeman]

Yes, I believe that someone posted on another thread that car insurance is problematic and that it is not possible to get car insurance in the UK unless you have a UK licence and that your UK licence is not valid unless you are a resident. Something we were not aware of.

 

Mmm yes, I suppose it's tied in with deciding which country you want to be taxed in as well. If you spent the majority of time in the UK, I assume you would be taxed there, which might not always be the most favourable position for an Australian citizen. Not sure how the car insurance would work over here if you spent most of the time in the UK and then had to drive over here on a UK licence.

[Keith and Linda]

Mmm yes, I suppose it's tied in with deciding which country you want to be taxed in as well. If you spent the majority of time in the UK, I assume you would be taxed there, which might not always be the most favourable position for an Australian citizen. Not sure how the car insurance would work over here if you spent most of the time in the UK and then had to drive over here on a UK licence.

 

Well if I have to worry about paying tax when I am retired then really I should not be worrying at all! But as I said earlier there is a lot more to think about but in 5 years things could change so not thinking too deep at present. On car insurance how about you become a named driver with someone else (like family) as the main policy holder? and before folk start going on about it's who does the most driving, than I add for example the wife is the main policy holder on our car and I am a named driver, however though she does the most driving in that car, it is myself that actually drives the most mileage in it. I know there will be other things like where you keep it garaged etc. But most thing will get dealt with nearer the time and not unduly concerned about things at the moment.

[flag of convenience]

In that case it's not an issue for you, and I'd be using your Australian years of work to count towards your UK pension.

 

I can do that without an agreement between the two countries?

[Fisher1]

and the best places for retirees within 60 -90 mins of Sydney are ....?

[Marisawright]

Mmm yes, I suppose it's tied in with deciding which country you want to be taxed in as well. If you spent the majority of time in the UK, I assume you would be taxed there, which might not always be the most favourable position for an Australian citizen. Not sure how the car insurance would work over here if you spent most of the time in the UK and then had to drive over here on a UK licence.

 

One thing I discovered recently is that it's possible to be resident in two countries - and it's not up to YOU to decide, it's up to the countries to decide! If you're in the UK for 183 days in a tax year, you are resident for tax purposes, no arguments. Australia is more confusing: they take into account things like whether you have a home and car here.

 

It could actually be beneficial if you can manage to be resident in both countries - because Australia taxes non-residents a lot more harshly than residents. And the double taxation agreement means that although you have to submit tax returns in both countries, they won't tax you twice on the same money.

[Marisawright]

I sent off to the UK for an estimate of pension, and in the letter I got, they told me that if I become resident in the UK, I can apply to have work years spent in Australia prior to 2001 counted towards the UK pension.

 

I assume that if I claim those years towards the British pension, then I would forfeit the right to the Aussie pension, but it doesn't say that.

[Marisawright]

Just a thought. Can anyone tell me which are the best places for retirees within 60-90 minutes of Sydney CBD? Ideally on the coast or near water I'm wondering about finding cheaper property and thinking about the central coast, but don't want to end up in the middle of nowhere.

 

It depends what you mean by the middle of nowhere, and whether you're talking driving (outside peak hour) or public transport. Going North or South along the coast, an hour on the train (or driving in peak hour) won't even get you out of the Sydney suburbs.

 

Going South from the CBD, the villages along the coast between Sydney and Wollongong are highly desirable now and expensive, and there isn't the option to move inland away from the coast - it's all bush. Your most affordable opportunity to the South is really Engadine, which is an outlying suburb of Sydney, separated from the coast by the National Park.

 

Going North, past Hornsby the Northern Beaches are still part of the Sydney suburbs, so depending on your budget, the Central Coast is likely to be your best bet. They are all small towns so it does depend on what amenities you're expecting.

[lizq]

Luckily we came when the old retirement visa was in place, which is a long term retirement visa, which we renew every 10 years, but it does mean we can't get PR.And are totally self funded. Honestly not sure if we would be prepared to 'loose' $100.00 of our money to move now. I appreciate you pay as you haven't contributed financially to Australia and you are then eligible for Medicare, which we aren't, but that buys quite a lot of health cover.

I wouldn't be surprised if more parents do the same as Qoull's parents did.

we are a bit different, as we came on our own, we had lived in Asia for a long time and didn't feel ready to go back to UK.

2 of ours have followed us, we have 1 in Brisbane and 1 in Sydney, who will hopefully get PR in Dec. so we could potentially go the parent route, but not sure it's worth it.

our daughter is in Sydney and we visit her regularly, check for cheap fares book and go. I am fairly sure it's cheaper to live on the Sunshine Coast and visit, than live in Sydney?

if you do go down the 6 months in each country, then think about house swapping, we are hoping to do this next year, to keep UK visit costs down.

 

any one live an hour from Bristol and interested?!!!

 

we manage easily on about $60.000, obviously depends where you live, 2 cars, good life style etc. have to have health cover as well. we bought our house on a mortgage, and kept property in UK, but I assume most people sell their UK property, which at our age should be worth more than when originally bought, so should have equity.

not an easy decision, but we have no regrets.

 

Like you, we're on a 410 visa. Moved out here 3 years ago & since then 2 of our 3 children have moved to Sydney, both of whom have PR and about to become Citizens. We have one daughter in Edinburgh, about to give us our first grandchild, so plan on returning there for 3 months every year.

We have, up until now, kept our UK house and rented here. House now in the final stages of being sold and we then have to make some big decisions regarding buying here, and where.

Very interested in hearing about good House Swopping sites. And also, how easy was it to get a mortgage as retirees? Hadn't even though of that one.

Any keeping a property in the UK - does that have any adverse effects on the Tax Advantages of our visa?

Sorry to bombard you with so many questions, but nice to find someone in a similar situation to us.

[ramot]

Like you, we're on a 410 visa. Moved out here 3 years ago & since then 2 of our 3 children have moved to Sydney, both of whom have PR and about to become Citizens. We have one daughter in Edinburgh, about to give us our first grandchild, so plan on returning there for 3 months every year.

We have, up until now, kept our UK house and rented here. House now in the final stages of being sold and we then have to make some big decisions regarding buying here, and where.

Very interested in hearing about good House Swopping sites. And also, how easy was it to get a mortgage as retirees? Hadn't even though of that one.

Any keeping a property in the UK - does that have any adverse effects on the Tax Advantages of our visa?

Sorry to bombard you with so many questions, but nice to find someone in a similar situation to us.

 

We have been here since 2003 and getting a mortgage then wasn't a problem, but not sure if it's as easy now, sorry.

haven't actually done a house swap yet, but hoping for next year. Will let you know how it goes.

all our income comes from UK and we still have property there, and are taxed in UK, I'm not very clever about the tax implications, but am assured by my husband it's better for us, as we are temporary and not PR in Oz.

there is quite a large group of 410 visa's here on the coast.

we meet up 2 monthly for lunch, and there was a petition I think from BEIRA(?) yesterday requesting PR for those who have been here for over 10 years.

Apparently as the visa stopped in 2005, there are approximately only about 3000 still in Oz.

we honestly don't know if we would bother even if it was a possibility, as our visa is now renewed for 10 years, and costs peanuts, not sure if we would gain anything, and would then be taxed more as residents here, and if it happened I wouldn't be surprised if we had to pay a similar amount to the Parent visa.

Hope you enjoy living here as much as we do.

[wrussell]

Or move to a place where you get more for your money. Bali, for example. It's closer to Perth than Sydney.

Darwin is closer to Manila than it is to Sydney.