PW1 Posted March 28, 2012 Share Posted March 28, 2012 Hello, Apologies if there is a thread for this, but I could not find it. I wondered if anyone had any info or personal experience if their parents retiring to oz? From what I understand, a couple retiring needs quite a bit of money, and their pension gets taxed in the uk, whilst also getting taxed in OZ, even though they are not entitled to Medicare, so they also have to shell out for private medical care? Is this true? Any info or replies, are much appreciated. Regards, P. Link to comment Share on other sites More sharing options...
Guest Guest31881 Posted March 28, 2012 Share Posted March 28, 2012 There is a thread for this, but it is very long and will take a lot of reading. One thing I can tell you is that you are not taxed in both countries, you are only taxed in one and if you are a permanent resident that will be Australia, any tax paid to the UK is deductible of your Australian tax. http://www.pomsinoz.com/forum/migration-issues/77756-brand-new-pio-parents-visa-thread.html The bad news is that it can be very expensive to move here as parents, or a very long procedure. Your UK state pension would be froze from the day you emigrate and you receive no increases while you live in Australia. I would seriously consider contacting a reputable agent to find out the exact costs involved, you do not have to use an agent but the advice could save a lot of heartache and hassle. ( Go Matilda & Visa Bureau are two highly recommended agents) Link to comment Share on other sites More sharing options...
Linday Posted March 29, 2012 Share Posted March 29, 2012 If you have children in Australia they can sponsor you for a parent visa. You need to pass the balance of family test, ie you need to have more of your children in Australia than elsewhere they also count any step children. There are various visas, the normal parent visa 103 has a long waiting list, around 10-15 years, depending on how many visas they decide to grant each year. There is a Contributory Parent visa, which is currently taking about 14 months to process, but is expensive, around £50,000 for a couple. You can split the cost by applying for the temporary visa 173 first and then you need to apply for the permanent visa 143 within 2 years. There is also the Aged Parent visa for parents over 65. You can apply for this onshore and then you are granted a bridiging visa so you can stay in Oz. The downside of this route is that while on the bridging visa you will only have basic Medicare cover and you need to pass a medical before the visa is granted so if you fail the medical you will have to leave. I understand there is a waiting list of several years so you might be waiting a while. Strictly speaking it is not legal to travel to Oz on a visitor visa with the intention of applying for permanent residency but I know people do it and it’s complicated if you have a ‘No Further Stay’ condition put on your visitor visa. The best place to start is here: http://www.immi.gov.au/migrants/family/visa-options.htm also have a look at Booklet 3 about parent migration. http://www.immi.gov.au/allforms/booklets/books3.htm There is a parent visa thread at the top of this forum with lots of knowledgeable people so you could post any further queries on there. If you are not eligible for a parent visa then the only option would be an investor retirement visa. I don’t know much about this, but I do know it is very expensive. With regard to your pension, the state pension will be frozen at the rate it is when you leave the UK, you don’t get the cost of living increases, although there is a movement to fight this again. Your pension will be taxed in Australia, but there are allowances, just like the UK. You may be entitled to an Oz pension after 10 years, but it is means tested With regard to Medicare, as a permanent resident you will have full Medicare rights. However this doesn’t cover dentists, opticians, and things like physio. You can take out private insurance to cover this and it is not too expensive if you don’t take out cover for private hospital care. Hope this helps. Link to comment Share on other sites More sharing options...
wrussell Posted March 30, 2012 Share Posted March 30, 2012 you need to have more of your children in Australia than elsewhere Not so. Link to comment Share on other sites More sharing options...
PW1 Posted March 30, 2012 Author Share Posted March 30, 2012 Hello, Well thank you for your replies everyone, much appreciated. After reading I seriously doubt my parents will want to give away so much (50K!!!) of their pension to live in Austraila. Quite frankly I'm surprised its so much money. I'd have thought that retired people with money to spend without taking up a job would have been a good thing. Regards, P. Link to comment Share on other sites More sharing options...
NickyNook Posted March 30, 2012 Share Posted March 30, 2012 I'd have thought that retired people with money to spend without taking up a job would have been a good thing. Regards, P. Not at all - retired people don't pay much tax and tend to hog the medical facilities so are a cost to the country. It's young families with a long, productive, tax-paying working life ahead of them (and their children) that the Australian government wants.. Link to comment Share on other sites More sharing options...
rackspace Posted March 30, 2012 Share Posted March 30, 2012 Not so. really ?? Link to comment Share on other sites More sharing options...
NickyNook Posted March 30, 2012 Share Posted March 30, 2012 really ?? If they have an even number of children - only half the children needs to be here. So it can be just 50%. If there are an odd number of children, it depends where the non-residents are. The table here details it all: http://www.immi.gov.au/migrants/family/balance-family.htm Link to comment Share on other sites More sharing options...
PW1 Posted March 30, 2012 Author Share Posted March 30, 2012 Not at all - retired people don't pay much tax and tend to hog the medical facilities so are a cost to the country. It's young families with a long, productive, tax-paying working life ahead of them (and their children) that the Australian government wants.. Yes, that does make sense come to think of it. Regards, P. Link to comment Share on other sites More sharing options...
Freesia Posted March 30, 2012 Share Posted March 30, 2012 are you in Australia? there are tourist visas which they could use to visit you for 6 months of the year.....avoiding our horrible winters! could be a viable alternative?? Link to comment Share on other sites More sharing options...
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