ozzieeagle

I'm surprised, didn't expect it to be so different to where we are. Very few if any charge around here. Thats in Melbournes inner north. Even the Skin Cancer clinic bulk bills.

So if anyone wants a bulk billing skin cancer check in Melbourne, Heres the go.

https://www.a1doctorssurgery.com.au/



I guess our muncipality isn't called the "Peoples Republic of Moreland" for nothing

the troubadour

I must be in the Corporate State of Vincent then. My doctor has just raised her rate to $80 with nothing in the way of bulk billing in the area as far as I can ascertain. I will look harder though and perhaps go out of area.
I'm surprised there appears so much bulk billing in Melbourne.
Some had the impression it was more probable to find in struggle street suburbs. But apparently not.

ozzieeagle

It's something I hadn't felt the need to consider and will check thoroughly in case of any future downsizing move.

ozzieeagle

Here's a great tool for seeing how much one would need for retiring in Australia.

The amounts are for a couple, living a modest lifestyle would be around 36K (25K for single) per annum and for living a comfortable lifestyle around (45K for singles) 61K per annum.

It goes into more comprehensive detail on this website.

https://www.superannuation.asn.au/re...ement-standard

There's an article I'm looking for which advises how retirees can retire comfortably on 250K's worth of superannuation. Hopefully I can find it again. Basically it comes down to working casual upto the income threashold limit of 250 Dollars per fortnight and slightly beyond, which also means one stays active. Hopefully that turns up again soon.


Comfortable equates to Private Health insurance, Latest car, numerous holidays and eating out regularly etc. Oh and both figures assume you own your own home.


The article is hidden behind the following paywall. I'll try and relocate the copy I had.

https://myaccount.news.com.au/sites/...type=anonymous


Here's a hint at how's it's achievable from another source.

https://www.equipsuper.com.au/blog/can-you-retire-comfortably-with-$300,000

spouse of scouse

Bloody spammer, and not a very clever one - reported

ozzieeagle

Got those precious articles. The following attachments are probably the best advice I've seen for those looking at a limited superannuation payout. This advice is gold dust.


Read the 2nd item first and double click on the landscape orientated article to revert it to Portrait and therefore easily readable.

carnumber7

When does the 10 years start, is it from receiving visa, or from date arrived in Australia. Also can the taxing of UK pension be confirmed by anyone?

spouse of scouse

Hi, the 10 years relates to time spent actually living in Australia as an Australian citizen, a permanent resident, or as the holder of a protected Special Category visa.

In Australia you're taxed on your worldwide income, so your UK pension would form part of your taxable income.

Amazulu

Interesting reading and I've always said the $1m+ story is a load of bollocks - nice if you've got it but not essential . We probably won't qualify for the pension but I see that as a good thing - means you've done a good job with providing for your retirement. As for carrying on working, if I'm brutally honest with myself, I'm a lazy f**ker and need the discipline of work so definitely intend to carry on limited work as long as I can. Also, NEVER pay for financial advice (as the Royal Commission is now showing). All the info is out there for free and with a bit of time and effort you can find out what you need to know. Keep it simple - blue-chip investments that are solid and pay good dividends, some cash and maybe a property or two. Done

I still maintain that Australia is a better retirement option than the UK in financial terms (although it is better there now since the conservatives abolished the compulsory need to buy an annuity). And given the strong private pension system in the UK, they are in better shape than much of Western Europe where the state provides most of the retirement funding - baby boomers are eating it all up with little left for future generations. A huge hole opening up

ozzieeagle

I might add a health aspect to this thread, as I personally think that carrying on working after retirement age is really good for maintaining health, physical, mental and financial.

I just had 3 weeks off where I drank quite a bit more than usual. Outcome of that was, I whacked on 4 kilos in 3 weeks. The thought of not being able to have a beer or 3 in a session when I retire is quite a letdown. Right now I'm working on strategies to overcome the prospect of losing good health.

I think that's as important as talking about Pensions really. I've managed to lose 2.5 of those kilos already....but I've gone totally on the wagon and I'm not enjoying that at all.

Amazulu

Agree - if you haven't got health, wealth means nothing. Some kind of work gives you stimulus and keeps the brain firing. Look at the dude who's just been voted in as Malaysia's PM - 92!

ozzieeagle

There are some really technical and little-known tax savings when one actually reaches the full retirement age of 66/67 here in Victoria and probably mirrored around the country.

Things like no Stamp Duty on downsizing houses etc. There are a couple of others like that.

One thing I don't get is annuities v draw down on Super. How is an Annuity better than drawing down when needed. If one has an annuity the government automatically deducts 50pct of whatever they receive above 18K from their pension. Whereas with a draw down you only lose that 50pct (above 18K) of pension on what you draw down....which is bound to be less I would have thought than an annuity amount.

I'll be asking my Tax Accountant, who is very good at the government rules, about these little anomalies and reporting back.

spouse of scouse

One of Colin Barnett's election promises was a reduction in stamp duty for WA seniors who downsized, with a maximum discount of $15,000. From what I can see that hasn't eventuated but fingers crossed.

WA does have one of the most generous rebate schemes in terms of utilities though. Seniors who have both a Commonwealth and WA Seniors card get 50% off their local government rates and their water service and consumption charges, pay no driving licence fees and some other rebates/discounts that escape me at the moment.

spouse of scouse

Zulu, I don't know how old you are but under the current legislation self-funded retirees and seniors who work less that 25 hours per week are eligible for some quite good concessions/rebates.

Eligibility for the WA Seniors card isn't income or assets tested, you just need to be 65 or over (less if you were born before 30 June 1959), working less than 25 hours per week and be a WA permanent resident/citizen. This card gives you 25% discount on your local government and water rates, among other benefits. If you also have a Commonwealth Seniors card, the local government and water rates discount rises to 50%.

Eligibility for the Commonwealth Seniors card is:
Have reached Age Pension age
Are not eligible for an Age Pension, Veterans Pension
Have an annual income of less than $86,077 (for couples), $53,800 (for singles)
Australian resident
There is no asset test.

Kiwipaul

Once you hit retirement age (currently 65 1/2 years) you can claim SAPTO tax free allowance which means that you can earn $28,974 (normally $18,200) before you start paying any tax at all. This excludes any Australian Super you receive which is tax free.
https://www.ato.gov.au/Individuals/I...r-Australians/