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Discussion Starter · #1 ·
I got SSRV at 49 with USD 50K deposit, was told by atty that at I could apply for teturn of 30K after 50 as the deposit requirement then only 20K.

Today told nope that was an "old rule" would have to re-apply completely new, with all the costs/etc., to qualify for the lower amount.

And gee as I had a "classic" I am over 50K so I could just invest it all in a condo which they would be very happy to help me locate. (I knew that before)

Now interest in buying a condo as I got to know the market and never know when may leave and not overly optimistic could ever unload the condo, etc.

Just curious if anybody ran into the same situation??? and/or a warning to any other 45+ year olds that maybe NOT starting with an SSRV the way to go.
 

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I got SSRV at 49 with USD 50K deposit, was told by atty that at I could apply for teturn of 30K after 50 as the deposit requirement then only 20K.

Today told nope that was an "old rule" would have to re-apply completely new, with all the costs/etc., to qualify for the lower amount.

And gee as I had a "classic" I am over 50K so I could just invest it all in a condo which they would be very happy to help me locate. (I knew that before)

Now interest in buying a condo as I got to know the market and never know when may leave and not overly optimistic could ever unload the condo, etc.

Just curious if anybody ran into the same situation??? and/or a warning to any other 45+ year olds that maybe NOT starting with an SSRV the way to go.
Hi NewFam, welcome to the forum and hope you enjoy.
Did you have the option to roll your deposit into property/lease in your scenario/under 50?Prior to reaching that age? I look and will probably go down that path but will be 60 when I do and have only researched from my situation and appears that deposited funds can be released with a purchase of property or a long term lease.
Wish you luck, my beef is the import duties and taxes if importing your own goods for retirement,,,, U.S. 7K is ridiculous, try to furnish a house in PH for PHP 350K.

We have to deal with it, like all other unfair/weird situations that arise in PH and I know Australia has plenty of weird laws that we accept, social and legal norms. Right/wrong or indifferent we have to work within the country we chose to retire/live in and investigate many countless times, cross reference and ask fellow expats for their knowledge and experiences.
Good luck and keep us all posted with regards to your plight and what PRA advise.

Cheers, Steve.
 

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Discussion Starter · #3 ·
To roll over into property you need USD50 on deposit I believe. I didn't really have a choice on the timing so just one of those things, I guess.
 
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