Getting the Pension

[leon]

Hi Guys, just wondering, can someone get the Australian pension when he has not paid tax for at least 10 years, however he is still working and making a small wage.:shrug:

Leon:thumbsup:

[Nikolas]

If you are an Australian citizen then you are entitled to all the standard entitlements

[mswhin63]

I am on a spousal pension, as my wife is still only just receiving her Disability Support Pension. My income is not high enough to stop it. The pension amount based on wage will depend I think on the type of Pension but my wife is on a 5:1 ratio. For every $5.00 earnt, she loses $1.00. I do believe my income may be calculated slightly differently, I know that if I go to another level in my work she will lose the pension, or put on hold for a period of 2 years.

[GrahamL]

Govt loves it when you work past retirement age... The accountant who has your friend paying no tax for ten years would be a good place to start for advice .

[Merlin66]

The Gov pension is based on assets and income.
If there's no real income (below the tax threshold) then you need to check the total assets (excluding the home) to see what impact it would have.

[PCH]

Hi Leon,

Don’t forget, the pension doesn’t automatically kick in when you reach a certain age. These days it depends on when you were born.

Google ‘what age can i get the pension in australia‘ to see the breakdown.

Hope this helps ��

[leon]

Thanks for that, this fellow i talk about keeps on sprouting how he never pays tax, never sends in a Tax Return, so I just wondered if he was actually entitled to a pension because of this.:shrug:

So from your answers it seems like he can still get it, I thought if you don't contribute by paying Tax, you cant reap the rewards.

Leon:thumbsup:

[Merlin66]

Yeah,
It's not like the UK where you need to contribute through the National Insurance payments to have a pension.
https://www.gov.uk/state-pension

[The_bluester]

If successive governments get their way with creeping changes, folks my age and younger will be working up until lunch on the day of our funeral if we live to 90.

[leon]

Yes Paul you are probably right there, I suppose i was lucky and born in June 1950 so i was able to get the pension at 65.
The later your born the longer you have to be a to work it seems, my wife Alice has to wait until 67.5 she is ten years younger.

Leon

[multiweb]

When I started self employment in 2001 my accountant made me start my own super. When you're younger you have no idea and now I'm glad he did. I always knew there was no pension for me at the end of the game but for the money I'd save. If they don't tax me before I kick the bucket that is. Some pollies tend to think that people with super are rich b4stards. :lol:

[drylander]

The trouble with super I find is that no matter how much you have by the time you retire the goalpost has changed. :eyepop: That is the biggest bugbear for me.
Pete

[sn1987a]

Simple, they kill the pension we'll fill the prisons until they bring it back. Costs more to keep someone in prison than pay them the pension. The older I get the less I have to lose and the more bloody minded I become. :D

[multiweb]

I reckon that with the economy tanking worldwide and the amount of people who will be unemployed they'll rethink the idea of working us to the bone until we're 70 or over. Lots of things are going to change in the near future.

[AndyG]

Some may be upset to hear that idea - but objectively, it's very true.

[leon]

Yes I agree things will be very bleak for some, I really feel sad how some people will struggle to make it.
I think the world will be a different place in a couple of years, or maybe even sooner.

Leon

[drylander]

And they get preferred medical treatment as well and as we get older some require more medical help than the young ones.
With less time left on this planet maybe take out a politician and get life :rofl:. Being over 70 and working on average life span its a win-win solution for us oldies.:lol:
Pete

[sn1987a]

Civil disobedience. A protest with benefits. Every parliament building, bank HQ, corporate asset, CEO's/MP's dwelling burnt down will result in the creation of thousands of construction jobs.

1 or 2 hundred thousand oldies storming and burning down a building once a month with plenty of publicity and warning in advance should do it. What are the police going to do to stop them, shoot them?. Afterward everyone surrenders for arrest. "I'm Spartacus!" :D

[FlashDrive]

If I'm ' lucky ' I only have 18 months to go for the OAP ( old age pension )

Born in 1955 under the ( non zodiac sign ' of )....' Keep off the Grass ' ;)

Col

[Swagman105]

Tried for the pension a few years ago but missed out by a few dollars on super income grounds for getting even a minimal amount of part pension which would've given me all the perks like health concession card and pensioner discounts amounting to thousands of dollars.
A bit peeved at the thought of being penalised for my financially responsiblity during my life, I resolved to have nothing more to do with Centrelink.
Used part of my super (not all), to finance an investment property and buy some shares and now am over and accelerating above the pension cut off line.
Never looked back, I now have good health insurance and money left over for Astro stuff!
Don't plan to stay poor forever.

[AndyG]

Man, you got me in stitches. So what do you call the oldies in mobility scooters? Mounted Division? Armoured Corps? Retired tradies as Sappers? Thankyou, I needed that giggle.

[FlashDrive]

+1 ... The Grey Army

[doug mc]

I've been PAYE all my working life. I would be a bit nervous approaching Centerlink with no record of paying tax. I hear the ATO has some difficulties with such a situation.

[mswhin63]

PAYE, does that mean your own business? If so as a sole trader or even a company you will be stung like a bee as I did for 13 years until my accountant found a way around it. By then the damage was already done and I threw away the business and my wife is happy as Larry.

[Swagman105]

I worked in the tax office for a few years and know a bit about what they look for so I am working on building a nest egg that even they would find difficult to assess. A lot of astro gear.

[DavidU]

Things are looking up for me these days, with a few good jobs here and there it looks like I can now retire at 124 down from 128.:thumbsup: