Then yes, technically you have entered Australia as a landed immigrant and is now a tax resident....

However, if you are like some people, who did an initial landing, then continued to live elsewhere, you can argue that you are still not a tax resident, as long as you have not conducted yourself as a resident....

Oz tightening the screws....they have been very lax with the ETA for msians....too lax....and too many are jumping plane....

I just hope they are just profiling, and this is not a prelude to removing ETA from msians....

You can live quite cheaply in Oz...if you know how....and of course avoid the major cities....

The majority just want to earn some money before they are caught....stay below the radar, work hard and earn the money and save up...

They know there is no long term future....just short term opportunity to make some money....if they are lucky, they stay undetected for a few years and save enough to buy a house when they return....

Kenji, they wouldn't stay in Syd/Mel unless they have a good reason....that may be a good paying job, enough to cover the higher cost of living....

I don't know personally of any of these....but have a relative who did this in London for 5 years....

Even if you move only when the kids are bigger, you may avoid the "westernisation" of your kids, but your grandkids will still be ABCs and may still face the same problems....

But I do believe it is still possible to instill family values in ABCs, it's how you bring them up, the value system you have, etc....there is a critical mass of Asians in most cities for a microcosm of Asian culture to exist and florist...and enough practising Christians to retain religious values....

As to nursing homes, in the kind of Australian environment existing now (nuclear family, small housing, working couples, etc). It is not realistic to expect Asian style multi-generational extended family setting, and we have to accept aged and end of life care will most likely be outsourced (ie nursing homes)...

Finally, I never believe in leaving money for children when you die....the time they need your help is actually when they are just starting out....not when they are middle age and inheriting your wealth....

It is so entrenched, they think it's a hak, not racism....they actually think Australia is a more racist country...

See current discussion here: https://forum.lowyat.net/topic/4445942

In my son's medical class, all unbonded msians stayed back...all Singaporeans except one went back....even the 2 mara scholars wanted to stay on.... but they are bonded....

They are asking why you so stupid migrate to a more racist country....

Racism is discrimination based on race....no?

In Malaysia, religion is used as a surrogate for racial discrimination....and is also effective in segmentalising bumis (think those from Borneo)....

Nobody who trials returning to Msia from Oz, or retiring, should burn their bridges....nor is it necessary to liquidate Oz assets....

2 immediate colleagues came back for family reasons... when that need is over, they both went back to Oz, very happy their properties in Melbourne and perth had rode up the housing boom....

Many thinks your are faking your good fortune, going to a more racist country....

Many in the kopitiam forum will like to believe that...

Racist Australia cannot be better than generous Msia, what....

This post has been edited by limeuu: Nov 4 2017, 02:25 PM

The problem with choosing a high equity option in your super, is that you are exposed to fluctuations of the stock markets. You are seeing a very short term appreciation, and with the mild softening of the AUD, see good paper returns in AUD. You will only realise the paper gains if you swap out from the high equity option. If the market crashes, you may see all your gains and significant part of savings wiped out.

Normally, for near retirees, an asset protection approach to investment is advisable.

The tax free status of super returns is great for near retirees, but for the young, it's very far away, and that concession may no longer be there in 30 years time, just as defined benefits disappeared. Most young people don't even have savings for a first property down payment, let alone top up supers.

The babyboomers are the lucky generation. The gen X and y are not so optimistic about their future.

whatever the outcome, you will be informed....

The only reason to choose higher risk instruments is the anticipated higher growth potential. And the only reason for that is to grow your egg nest. Yes, in the long term, all squiggles will even out, with a historical 10% annualised returns just on index pegging.

For people at retirement, that egg nest will start to be drawn down, so it is past growth stage. What one does at that point will depend on how big that egg nest is. I think it will be foolhardy to risk the entire estate on high risk instruments. It is not that difficult to calculate how much you need to maintain the same lifestyle after retirement, and projected over your expected life expectancy, that will be the sum you cannot and should not risk. That is best placed in secure vehicles, 3% return will protect it from inflation.

Should there be money in excess of that basic need, then it's what i call white elephant money, money you can afford to lose (sleeplessness not withstanding). If you want to gamble with it, that's fine.

Finally, your window may not be 20 years. Illness can strike anytime, and death is an inevitable side effect of life. A statistical life expectancy of 20 years form 57, just mean half your cohort will live up to 77. The other half don't.

One last comment. Money is for use. I presume you have more than enough to live comfortably for the rest of your life. Many believe in leaving some for the next generation "to help out". Whether that is a good thing or not is debatable. Since you don't have children, you don't have this dilemma. So what's going to happen to your excess money when you go? ie, what's the ultimate reason for the high risk investments and higher returns? Sometimes it's the hunt, not the game we want.

It is inevitable as we get older, we get more philosophical.....

It's the instinct and thrill of the hunt! Lol

This post has been edited by limeuu: Nov 7 2017, 12:10 PM

Once you have migrated away from Msia permanently, you can apply to withdraw all your EPF...

Yes you are right, they have tighten up....they now require a renouncement of Malaysian citizenship or pr for complete withdrawal....which poses some problems for those who want to keep their Malaysian citizenship....

There are people who naturalised, but continue to keep and travel with their Msian passports....

It's a tricky business trying to travel with 2 passports.... Australia will not force you to renounce your Malaysian citizenship since it's legal to have dual citizenship....and you can travel out with any passport....

On the Msia side, never show your foreign passport....always Msian....the moment you show your foreign passport, their database will show you are Malaysian, and your Msian passport will be cancelled....

Citizenship comes under home ministry....to withdraw from EPF, you will have to officially renounce....

Any one with any intention of the remotest possibility of living in Msia again, for a protracted period of time, should just stay a pr.... just no vote, and pay your kids hecs/help lah....

This post has been edited by limeuu: Nov 8 2017, 08:55 AM