Details of New Retirement Visa
Jun 9th 2005, 2:00 am
#1
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Location: Offices in Melbourne, Brisbane, Perth, Geelong (Australia), and Southampton (UK)
Posts: 6,459
Details of New Retirement Visa
Jun 9th 2005, 5:03 am
#2
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Re: Details of New Retirement Visa
Originally Posted by Alan Collett
Jun 9th 2005, 7:13 am
#3
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Joined: Feb 2005
Location: Ferny Grove Brisbane
Posts: 105
Re: Details of New Retirement Visa
Reading this were starting to panic. Our plans were to go and emigrate to Oz early 2006 and then when we settle my wife's parents would follow when they retire in June 2007. reading this because we intend to go to Brissy they wont be able to afford it. It looks like we might not be going after all!!!!!!!!!!!!!!!
Can any one clarify this retirement visa for parents wishing to join their children.
HELP HELP HELP
Nig
Can any one clarify this retirement visa for parents wishing to join their children.
HELP HELP HELP
Nig
Jun 9th 2005, 7:24 am
#4
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Joined: Dec 2003
Location: Upmarket
Posts: 17,503
Re: Details of New Retirement Visa
Originally Posted by PhillN01
Reading this were starting to panic. Our plans were to go and emigrate to Oz early 2006 and then when we settle my wife's parents would follow when they retire in June 2007. reading this because we intend to go to Brissy they wont be able to afford it. It looks like we might not be going after all!!!!!!!!!!!!!!!
Can any one clarify this retirement visa for parents wishing to join their children.
HELP HELP HELP
Nig
Can any one clarify this retirement visa for parents wishing to join their children.
HELP HELP HELP
Nig
It is very straightforward and gives PR with medicare rights.
G
Jun 9th 2005, 9:47 am
#5
Forum Regular
Joined: Nov 2003
Location: Tapping
Posts: 137
Re: Details of New Retirement Visa
Can they find out what their pension etc would be worth now, and apply for the existing 410 retirement visa before the end of June? My folks are trying to work this out too, as ideally they won't be retired for another 2 yrs.
The regional option is a bit less on the forthcoming investor visa - hoping that they wouldn't have to live too far out of metro Perth if they do have to go for the new visa, as that's where we're hoping to settle.
HB x
The regional option is a bit less on the forthcoming investor visa - hoping that they wouldn't have to live too far out of metro Perth if they do have to go for the new visa, as that's where we're hoping to settle.
HB x
Originally Posted by PhillN01
Reading this were starting to panic. Our plans were to go and emigrate to Oz early 2006 and then when we settle my wife's parents would follow when they retire in June 2007. reading this because we intend to go to Brissy they wont be able to afford it. It looks like we might not be going after all!!!!!!!!!!!!!!!
Can any one clarify this retirement visa for parents wishing to join their children.
HELP HELP HELP
Nig
Can any one clarify this retirement visa for parents wishing to join their children.
HELP HELP HELP
Nig
Jun 9th 2005, 10:39 am
#6
Guest
Posts: n/a
Re: Details of New Retirement Visa
In article <[email protected]> , Alan
Collett wrote:
> Some may be interested:
> http://www.gomatilda.com/news/article.cfm?articleid=343
Thanks for this. When it says (for Melbourne, Sydney etc)
* Have minimum assets of $750,000 available for transfer
* Have a minimum net annual income of A$65,000
* Make a "Designated Investment" of $750,000
You may not yet know the answer to these ...
Is the income in addition to the assets? And will the interest you
(presumably) get on the $750K count towards the required income?
After 4 years you get back $250K of your $750K. This implies that
the remaining $500K stays with the government until you die ...
whereupon you leave it to your relatives back in the UK. Wouldn't
the Australian economy be better off if you spent it while alive?
If you transfer $750K and then have to put this in the "designated
investment" you've got nothing left to buy a home, so either you
have to rent or you have to able to transfer significantly more than
this. Or am I missing something?
"There will also be a once only fee of $8,000 per person to offset
possible future aged care costs (for initial visa only)". But if
you're on a retirement visa you're not eligible for anything anyway.
So what is this for - to cover the situation where you don't renew
your health insurance and end up as a charge on the state?
--
Tony Bryer UK
Collett wrote:
> Some may be interested:
> http://www.gomatilda.com/news/article.cfm?articleid=343
Thanks for this. When it says (for Melbourne, Sydney etc)
* Have minimum assets of $750,000 available for transfer
* Have a minimum net annual income of A$65,000
* Make a "Designated Investment" of $750,000
You may not yet know the answer to these ...
Is the income in addition to the assets? And will the interest you
(presumably) get on the $750K count towards the required income?
After 4 years you get back $250K of your $750K. This implies that
the remaining $500K stays with the government until you die ...
whereupon you leave it to your relatives back in the UK. Wouldn't
the Australian economy be better off if you spent it while alive?
If you transfer $750K and then have to put this in the "designated
investment" you've got nothing left to buy a home, so either you
have to rent or you have to able to transfer significantly more than
this. Or am I missing something?
"There will also be a once only fee of $8,000 per person to offset
possible future aged care costs (for initial visa only)". But if
you're on a retirement visa you're not eligible for anything anyway.
So what is this for - to cover the situation where you don't renew
your health insurance and end up as a charge on the state?
--
Tony Bryer UK
Jun 9th 2005, 12:06 pm
#7
Migration Agent
Thread Starter
Joined: May 2002
Location: Offices in Melbourne, Brisbane, Perth, Geelong (Australia), and Southampton (UK)
Posts: 6,459
Re: Details of New Retirement Visa
Good questions, Tony ... I'm afraid I don't know yet, as I haven't seen the proposed legislation ... watch this space (so to speak).
Best regards.
Best regards.
Originally Posted by Tony Bryer
In article <[email protected]> , Alan
Collett wrote:
> Some may be interested:
> http://www.gomatilda.com/news/article.cfm?articleid=343
Thanks for this. When it says (for Melbourne, Sydney etc)
* Have minimum assets of $750,000 available for transfer
* Have a minimum net annual income of A$65,000
* Make a "Designated Investment" of $750,000
You may not yet know the answer to these ...
Is the income in addition to the assets? And will the interest you
(presumably) get on the $750K count towards the required income?
After 4 years you get back $250K of your $750K. This implies that
the remaining $500K stays with the government until you die ...
whereupon you leave it to your relatives back in the UK. Wouldn't
the Australian economy be better off if you spent it while alive?
If you transfer $750K and then have to put this in the "designated
investment" you've got nothing left to buy a home, so either you
have to rent or you have to able to transfer significantly more than
this. Or am I missing something?
"There will also be a once only fee of $8,000 per person to offset
possible future aged care costs (for initial visa only)". But if
you're on a retirement visa you're not eligible for anything anyway.
So what is this for - to cover the situation where you don't renew
your health insurance and end up as a charge on the state?
--
Tony Bryer UK
Collett wrote:
> Some may be interested:
> http://www.gomatilda.com/news/article.cfm?articleid=343
Thanks for this. When it says (for Melbourne, Sydney etc)
* Have minimum assets of $750,000 available for transfer
* Have a minimum net annual income of A$65,000
* Make a "Designated Investment" of $750,000
You may not yet know the answer to these ...
Is the income in addition to the assets? And will the interest you
(presumably) get on the $750K count towards the required income?
After 4 years you get back $250K of your $750K. This implies that
the remaining $500K stays with the government until you die ...
whereupon you leave it to your relatives back in the UK. Wouldn't
the Australian economy be better off if you spent it while alive?
If you transfer $750K and then have to put this in the "designated
investment" you've got nothing left to buy a home, so either you
have to rent or you have to able to transfer significantly more than
this. Or am I missing something?
"There will also be a once only fee of $8,000 per person to offset
possible future aged care costs (for initial visa only)". But if
you're on a retirement visa you're not eligible for anything anyway.
So what is this for - to cover the situation where you don't renew
your health insurance and end up as a charge on the state?
--
Tony Bryer UK
Jun 9th 2005, 12:08 pm
#8
Migration Agent
Thread Starter
Joined: May 2002
Location: Offices in Melbourne, Brisbane, Perth, Geelong (Australia), and Southampton (UK)
Posts: 6,459
Re: Details of New Retirement Visa
Can they apply for a Retirement visa now? In other words, do they meet the requirements (age and financial)?
Best regards.
Best regards.
Originally Posted by PhillN01
Reading this were starting to panic. Our plans were to go and emigrate to Oz early 2006 and then when we settle my wife's parents would follow when they retire in June 2007. reading this because we intend to go to Brissy they wont be able to afford it. It looks like we might not be going after all!!!!!!!!!!!!!!!
Can any one clarify this retirement visa for parents wishing to join their children.
HELP HELP HELP
Nig
Can any one clarify this retirement visa for parents wishing to join their children.
HELP HELP HELP
Nig
Jun 9th 2005, 1:35 pm
#9
Forum Regular
Joined: Sep 2004
Posts: 32
Re: Details of New Retirement Visa
Alan,
Your postings and information are very much appreciated.
Regards,
Marc
Your postings and information are very much appreciated.
Regards,
Marc
Jun 9th 2005, 4:27 pm
#10
Barbie chef extrordinaire
Joined: Feb 2005
Location: Ferny Grove Brisbane
Posts: 105
Re: Details of New Retirement Visa
[QUOTE=Alan Collett]Can they apply for a Retirement visa now? In other words, do they meet the requirements (age and financial)?
Hello again
They certainly wont have the finances to go for the new visa. Is the visa instead of the parents visa. We want to emigrate next year, live out there and settle down etc etc, then when the wifs parents retire in 2007/8 they want to sell up and join us and the rest of the distant family out there (aunties uncles cousins). Is this the best visa or is there another one its confusing wich visa is the best.
Help Help
PhillN
Hello again
They certainly wont have the finances to go for the new visa. Is the visa instead of the parents visa. We want to emigrate next year, live out there and settle down etc etc, then when the wifs parents retire in 2007/8 they want to sell up and join us and the rest of the distant family out there (aunties uncles cousins). Is this the best visa or is there another one its confusing wich visa is the best.
Help Help
PhillN
Jun 9th 2005, 5:07 pm
#11
Retired
Joined: Apr 2004
Posts: 34,649
Re: Details of New Retirement Visa
Originally Posted by PhillN01
Hello again
They certainly wont have the finances to go for the new visa. Is the visa instead of the parents visa. We want to emigrate next year, live out there and settle down etc etc, then when the wifs parents retire in 2007/8 they want to sell up and join us and the rest of the distant family out there (aunties uncles cousins). Is this the best visa or is there another one its confusing wich visa is the best.
Help Help
PhillN
They certainly wont have the finances to go for the new visa. Is the visa instead of the parents visa. We want to emigrate next year, live out there and settle down etc etc, then when the wifs parents retire in 2007/8 they want to sell up and join us and the rest of the distant family out there (aunties uncles cousins). Is this the best visa or is there another one its confusing wich visa is the best.
Help Help
PhillN
Jeremy
