Bumped off flight means exactly that: you don't get to fly...the capacity is determined by how many quarantine places available that day....some flights may only have 10 passengers, if that's all there is quarantine places...flights are limited, and people come in from all over the world....

And remember Melbourne is still on lockdown....

Things should probably improve by next month. They are trialing home quarantine for returning residents, so that will release more hotel quarantine places...

Want to know anyone has ideas of how is the PR application success rate for a 15 years professional engineer in the telecommunication/semiconductor industry with MSc?

Estimate will have 75 points, apply for subclass 189.

But I checked the Australia immigration data, the granted application is very low, maybe one month is about 40 people get the PR approved, is that also caused by the Covid-19?

planning to transfer some funds from commback to maybank but the given rats is quite disappointing

i also heard about transferwise but how safe it is? planning to transfer <10k AUD

Hope you are aware that after 1 Jan 2022, there may be a 3% tax on incoming remittance for Msian residents.

Don't know how the govt is going to implement this - may have to send before 1 Jan 2022 to avoid this tax. Really affect people who have money overseas and regularly send money back to Msia.

Real bummer!!

yes and this is the reason i am going to transfer back

but the date is confirmed?

I think everyone is waiting for more details to come out.

I have already transferred more than rm1mil over the past 8 months (transferred with CBA to MBB with rates between 2.98 and 3.17). Can only do A$50k max each time and fees from CBA was A$22 each time via telegraphic transfer and Maybank deposits the money in my acct in less than 1 hour with tt. I was not intending to transfer more starting from 2022 but you never know when we might need more ringgit - maybe a very attractive investment opportunity might come by.

I have been following https://forum.lowyat.net/topic/3524728/+200

Really terrible news even though 3% may not be a huge sum. Any form of tax is repulsive and despicable!!

This post has been edited by Garysydney: Nov 18 2021, 07:58 PM

i have been transferring with CBA to MBB too from the past and would really like to leave some AUD funds there but this 3% tax is bothering me.

another way is to fly to Australia and cash out but the current pandemic really killing this plan

Yes - getting cash from Aust may be the best solution to avoid paying the 3% tax. You must make sure you don't change more than rm3k each time when you change at the money changer in Msia because they ask for your ic and you got to fill a form which request for your occupation and company you work for. Just go to different money changers - there are about 4 money changers in Mid-Valley that i know of. Only problem is flying in and out of Aust at the moment with this Covid!!

I got a couple friend who just sold their unit in PJ and is wanting to bring the money back to Sydney (they are working in Sydney at the moment) so i can change some with them too. They lost money on their small unit bought 7 years ago. Msia is not a good place to invest (esp condos) as getting tenants is difficult. My returns on my funds left in Sydney has done so well in the last 18 months since the Covid crash. Only thing is whether we should lower our risk level at the moment

Bro Gary,... if you are a non-resident,... and with an Aussie citizenship, you will not kena. So, no worries for you.

IRB only wants to hentam Malaysians. Sorry for the pun.

Foreigners can remit in without issue.

Bro,... you have to find a way to generate Ringgit income with the Ringgit that you have inside Msia now. Then,... with that Ringgit generated, you don't have to transmit funds back to Msia anymore in case you fail the pemastautin test and 'you turn out to be' a resident, or they 'make you a resident'...... just sayin',..... tax authorities can do anything.

Hello Hansel, thank you for your reply.

If for some reason, lhdn classifies me as a tax resident of Msia, are you inferring that i have to pay the 3% for the money that i currently have in my name? I would have thought that it is only after Jan 1 2022 that the 3% ruling applies for funds sent after that date and that any money that is already in Msia will not be taxed. Isn't that your understanding?

Thanks very much for your input. I may have to engage a tax specialist as i have quite a lot of ringgit in my name. A bit concerned about this 3% tax now with Jan1 2022 fast approaching.

Whatever you have in Msia currently will NOT be taxed. No worries there.

No need to engage a tax consultant,... tell you something,... the tax consultants are also blurr now,... they're publishing articles based on what I/we write here,... then they add some salt and peppar on top to make things look more like its their own work. Their guesses are as good as our guesses on what will LHDN do next year.

Then HDN also does not know how to execute their plans,... sure, sure,... everybody wants to be like Australia,... residential-based taxation system. But this system has bad repercussions too.

Thank you taikor Hansel.

As long as they don't tax what i have in Msia is okay. Those that i have in Aust (80% of my assets) i can always find ways of bringing them back slowly if i need the funds but i think my funds in Msia will last me a very very long time.

Nice communicating with you as it has been a while since we last wrote.

Take care.

1 million will last you a long time in Malaysia, if you spend normally....

I agree.

I came to /k for information on costs of retirement (in Msia) in 2017 as i had totally no clue - over the last 30 to 40 years, the longest i came back to Msia was 4 years because we only had 4 weeks annual leave. I only read about retirement from a Western point of view. Now i am finally back in KL (about 6 months ago) and i am pleasantly surprise on how cheap retirement costs can be in Msia. I have always been surprised with people earning rm3k/mth and able to survive (living with parents).

Also i didn't realise that /k are full of younger people (below 45 y.o.) and their opinions may differ from someone nearing 60. I must say i learn a lot since joining /k - i have never been active on social media (i don't even use Facebook until the last 8 months where i was forced to because i needed to find info on leaving Sydney).

Thanks limeuu for all your advice all these years - i must say i learnt a lot from your posts here.

Oh, I thought the 3% is for Malaysian tax resident, mainly people who are considered as tax resident in Malaysia and having overseas income, eg, property rental income in overseas.

If you're a tax residence in Au (even though you are a Malaysian), and you remit money back, I thought it is exempted?

This post has been edited by twotwopig: Nov 21 2021, 07:15 AM

I flew back on 22 May 2021 and have now been in KL since. I probably won't fly back to Sydney until at least end of next year. I think Msia financial year goes from Jan to Dec (unlike Aust that goes July-June) so i have spent more than half the year in Msia so for 2012, i should be classified as a Msia tax resident.

I have relatives flying back next year and can ask them to bring me the cash if they are going to implement the 3% ruling. Just need to declare if you take more than A10k per person to the Aust govt.

Ah, you're right for your case.

Hi all, it's been a pretty wet spring/summer, which was personally quite welcome for me. It resembled Msia's hot and humid weather really closely.
Occasional cloudy days which were my favoured type of day back home. How's everyone enjoying the (limited) freedom?

Also, has anyone (or your family) been able to get the visa and exemption to travel to Aus? I'm hoping my my mother will be able to visit early next year and stay for a bit.

When i was younger, i also liked the overcast weather but as the years progressed, i liked the warmer weather and rainy days are the worst.

Heard this year's summer been pretty cool as well - i always like a warm summer. The good thing about summer is the sunset-ing after 8pm. I have always lived near the beach and my wife and i will go for walks along the beach after dinner. Cannot imagine i have lived 40 years in Sydney .

Life in KL is very different. Don't need to wear long johns all the time. It has been raining a lot in the aftrennons so evenings are quite cool. I like retirement in KL as food is everywhere and CHEAP!! My expenses are halved what it was in Sydney. I now understand why a lot of Westerners live in Phuket for their retirement.