Tuesday, 23 February 2016 04:21

No Pensions For Ex-Pats?

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It now seems to be happening. A bill is likely to be passed in the Australian Parliament that will wipe out pensions for Australians living outside of the country.

It wil not matter whether they have paid taxes their whole lives or if they are currently paying the higher non-resident taxes (32%), if they reside outside Australia there will not be an Australian pension.

This seems grossly unfair to all of the people who do not live within the country but have paid their taxes. The argument for this change has been the loss of currency from Australia. What has not been taken into consideration are the people who have come from other countries and DO receive a pension from their native country which brings funds into Australia. This is more than likely more than what would go out.

 

Is this unfair? Only time will tell.

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