gearbox

The attached image shows the bulk of the Thai exports to the US. Rubber is self explanatory, and substitution importers are not easy to find, so the Americans need to absorb their own tariffs. Nuclear reactors? Hmm I didn't know Thailand is producing them. The bulk is machinery and electronics. Thailand doesn't have any major companies in this area, so it is likely multinationals producing in Thailand and exporting. Not much of the profit is left here, so the multinationals either have to pass the tariffs to the consumers,  reduce the prices and absorb the tariffs, or relocate to a different country where there is no guarantee of future tariffs from anywhere. Not much impact on the Thais unless the production is curbed. Life goes on. 

8 hours ago, ubonr1971 said:

I moved here ages ago and informed the ATO of my non residence for tax purposes. I still basically fill out a nil return every year online. I sold my IPs and paid taxes on them etc. 

 

Now I have WP / job here and earning high salary. I fully pay my taxes here to the Thai rev dept.  I therefore dont report this income to oz when I do my return. Is this correct what Im doing?

It would be ridiculous to pay double taxation and assume this is not necessary?

 

If you have experience on this topic please make your opinions below

thanks

The tax residency in Australia is a complex topic, but if you don't have any substantial connections to Australia, like family, house, businesses , cars and bank accounts with fair bit of money you should generally be ok. If you are non resident you don't have to submit tax return, there is a checkbox in the return to notify ATO you won't be submitting returns. 

If you want to be 100% sure you can apply at the ATO for a private ruling. 

6 hours ago, ade591 said:

Rhabdomyolysis from deep tissue massage? 

If you see the masseuses, you'll figure out in 3 seconds that they are not into deep tissue massage 🤣

6 hours ago, crazykopite said:

Never known Thailand to have all night massage parlours especially on the islands I’ve always said I would happily die if I was enjoying a happy ending ! What’s the name and location of the massage parlour! RIP to the deceased at least he doesn’t have to explain to loved ones back home as to what he was up to !

The massage is opposite the former Kasikorn bank building in Chaweng,  there is iHerbs massage in the former bank building, part of the established iHerbs chain. The two massages are just opposite each other, iHerbs closes before midnight.

This place opened recently, there are close to 10 girls there sitting all day around on the stairs with open legs and short skirts😄Most are middle aged, overweight and not very attractive. Most of the times they seem to be all outside, not many takers.

It functions in area where there are no similar places next to it, it is mostly old established businesses. Most don't seem to be happy that they moved in from what I know. 

Good news but they had a few false starts to Europe a few times. The fights to Istanbul never eventuated. 

Otherwise they are a great airline to fly with a bicycle, cheap baggage allowance and no issues with box dimensions. They are the only airline I know which would fly your bicycle just wrapped with cling wrap.

2 hours ago, novacova said:

Will happen. When? Who knows. Maybe we’ll all be dead and gone by then.

Likely when the containment of the Chinese economy fails. That may take a while. The Chinese will be provoked to attack Taiwan, and on it goes.

On 6/29/2025 at 10:42 PM, oldcpu said:

 

Most banks will allow one to open a bank account on a 90-day type-O visa.  As was pointed out, one merely needs to go to immigration and ask for a residence certificate letter.  Typically such is valid for a week or so.  One needs a passport sized image of themselves to pass to immigration and possibly a TM30 (or other document). Immigration produces the certificate letter and gives it to the expat (for some nominal small fee). 

 

With that immigration residence letter/certificate, and the type-O visa in one's passport, one can then open a Thai bank account in most banks.  (For example, here is the Phuket Immigration volunteers webpage on that document:  https://piv-phuket.com/residence-certificate/ ).

 

Typically then, this means one needs to obtain a type-O or type-OA visa from one's home country first, in order to establish a bank account in Thailand.

 

There was a time when bank accounts could be opened on a visa exempt status (by use of an agent) but that possibility may have been closed recently ( i am not certain there).

 

The rules in Thailand are quite "elastic". They vary from branch to branch, and from person to person.

I arrived in Thailand with O-A visa a while ago and tried to open a bank account. All of the bank branches required a work permit from me...tried in vain to explain them that I'm on a retirement visa.

Then I brought with me my gf, which had substantial amounts in 2 banks and the staff was 'wai-ing" her, the accounts were opened pretty quickly.

The requirements seems to get tighter, I had to provide my Australian tax file number last time in order to open a term deposit. 

7 hours ago, Ebumbu said:

 

Right. His physical frame has the look of a parasitic infection. Big stomach, but bone thin. Needs a comprehensive stool test for starters. It's solvable, but not from Rayong. 

It is a possibility. I met a Brit in India 5 years ago just before covid. He got some infection in India which took nearly 3 months and quite a few doctors to diagnose in UK. He lost 16 kilos and was barely able to go upstairs in the end. 

7 minutes ago, DrJack54 said:

Just a suggestion.. If you decide to move to Non O retirement and extensions, suggest that you obtain the Non O in home country or outside of Thailand. 

 

Granted in your case with the 800k in bank for quite some time, the proof funds came from abroad is not a problem. 

 

However better option than enter visa exempt and apply for Non O in Thailand. imo. 

I did have issues converting from visa exempt last time, if I can get non-O outside probably would be better. Can I get non-O in Australia?

One observation relevant to this thread. Bangkok Bank in Samui can't do 12 months bank statements, from memory it is only 6 months. Myself can't be bothered updating my bank book too, I usually do it before extension. As a result there is a time gap in both the statement and the bank book for a few months. Initially I was worried that I would have problems proving I have the funds as required in the last 12 months, but the IO can't be bothered, it seems more relevant to them is to deposit 100 baht on the day the book is updated and the statement is done. TiT, every province and office could be different, this is the Samui Immigration.

5 minutes ago, BKKKevin said:

Very good!… What specific type of savings account did you put it into?… The name and term, and do you have a bank book?…  Does it stay in the same account or do you need to start a new account when the term ends?

 

I have had my 800k in Bangkok Bank for a number of years in a basic passbook checking account… 

 

I would like to switch to A higher saving account at Bangkok Bank but do not want to risk the problem of not having a clear paper trail of having the 800k in the bank for immigration.

 

I asked the lady at the bank once but her English was not so good and basically told me I needed to stick with the account I had to comply with immigration… 

 

I also asked my agent who handles my extension and she also basically said I was asking for trouble at immigration if I start moving the 800k from one account to another….

 

 

I opened term deposit with Bangkok Bank by transferring money from my savings account. I did get a separate bank book. Actually I opened 2 X 12 months term deposits - one 820k, the other 250k. As far as I know, there are no issues with the Samui immigration if you have 2 bank books, they are both with the same bank and there is clear trail. Anyway I don't need it now, currently in the country on visa exemption, departing again next month. If I do move to non-O retirement again it would be much simpler way to maintain. No tens of transactions in the bank book, and term deposits are generally safer, difficult to scam them, no ATM card attached to them.

2 minutes ago, DrJack54 said:

Does not have much to do with the thread which is related to financial compliance for extensions retirement. 

If you opt to leave your funds in a Thai Bank then fine. 

Out of interest without an extension how are you living in Thailand? 

Max 6 months per year, will move to DTV soon. I don't plan to spend more than 4-5 months in Thailand in the next few years, first I have extensive travel plans, second don't want to be a tax resident here.

9 hours ago, DrJack54 said:

Back up the high horse. 

Most including myself are well aware of the term and meaning of "opportunity cost" 

 

I have 800k in Thai Bank for immigration and those funds (at some point) came from my CBus Superannuation account which historically pays 8%.

 

So yes there is an opportunity cost involved. 

It's a personal choice so IMO turn it down a notch. 

Implying someone is a fool for not using an agent is your opinion. 

My retirement non-O extension has lapsed now, but I still keep 1.2-1.5 mil baht in Thai banks as currency hedge. I transferred the amounts when the Aussie was 23-25 baht, so I'm ahead at least 10% for the time being.

Everyone has different circumstances, for me tax issues are much more important than 800k sitting in Thai banks.

9 hours ago, BKKKevin said:

What Thai bank are you using to get 1.5%?

Bangkok Bank...but I did it the beginning of January. I think they lowered the rates since then.

23 hours ago, Packer said:

 

Nothing at the moment as I haven't set up a retirement visa and extension yet. When I do I will likely pay 14,000 a year with no need to show the 800,000 funds, which will instead be invested in assets that return far more than the 14,000.

 

I started a discussion about it here.

 

https://aseannow.com/topic/1354895-alternate-investments-of-800k-retirement-funds/

 

Using the 800,000 to return substantially more than annual agent fees, along with the extension process being taken care of for you is an absolute no brainer. 🙂

 

You need to compare apples with apples, different investments carry different risks. Cash deposit rates are going down across the world, so the difference with the Thai rates is getting smaller. I have 800k on term deposit at 1.5%, the rates in Australia are going below 4% now, so not that much of a difference. Of course I can put them in penny stocks and make 100%, or lose everything... 

9 minutes ago, Quentin Zen said:

What if people from your own country were there fighting against Iran? Would it be OK to bomb them?

 

Are you actively rooting for China and Russia?

 

I just want to make sure there's no confusion when you get the letter in the mail.  

The people of my country have no business attacking other countries. And any country attacked should fight back, including Iran. 

18 minutes ago, zyphodb said:

 

 I think that will certainly happen, then what will the psycos do? 

 Anyone for WWIII?

WW3 is likely one way or another. Nothing to do with Iran, it is all about the containment of China. 

8 minutes ago, zyphodb said:

 

And what do you think will happen to them if they "meekly" give in? Just leave their fate in the hands of the Israeli war criminal and his puppet in the US? 

Time for China and Russia to provide nuclear umbrella and hand out a few hypersonic missiles. Give them a bit of a proxy war taste.

4 hours ago, shdmn said:

What are MAGAts pivoting to now that their whole "no war, no world police president blah blah" talking point is dead?  Not that anyone with half a brain ever believed that nonsense in the first place.

Nothing new...there will be more wars, until China dismantles this nest of parasites. I would be probably gone by then. 

41 minutes ago, Millian said:

Found this:

https://www.fatf-gafi.org/en/publications/Fatfgeneral/outcomes-FATF-MONEYVAL-plenary-june-2025.html

These new regs were formally published yesterday and countries have till 2030 to comply.

So for now, it's very unlikely Thailand passes any identification information from atm withdrawals with foreign cards.

Most of the fatf members do a process called "entity resolution". They have to legally attribute a transaction to a unique person. As a starter they would need your name, address and DOB - highly unlikely that 2 people with the same name and DOB would live in the same address. When they don't have all the required info they may try to triage the data, taking into account extra information...could be a passport number or a driving licence. 

For international bank wire transfers the banks are required to include the information, so the wire transfers are pretty much always traceable at the sending and receiving points. Agencies as AUSTRAC have vast databases with current and previous international bank transfers. However no ATM withdrawals data. The ATM withdrawals info can only be obtained from your bank by the tax and law enforcement agencies in your country if there is ongoing audit or investigations.

12 minutes ago, Millian said:

Both technically traceable. I'd assume bank transfers are traced more easily, as it's going into a Thai Bank account.  For that reason I'm mostly going the ATM route .

The ATM withdrawals with a foreign card are not traceable by any institution except the bank which issued the card. The debit cards don't have enough information for the transaction to be attributable to a specific person.

21 hours ago, JackGats said:

Really? I'd have thought it was just a magnet for expats fed-up with the retirement visa hassle as well as for those who fell short of qualifying for the LTR.

Depends on the circumstances. My retirement visa just expired, and DTV would be ideal as I don't plan to be more than 6 months per year here, at least for a few years. Hopefully the processing in Sydney is faster.

4 hours ago, newbee2022 said:

I hope visa regulations will be straightened soon. 60/90 days for EU members visa free and costly 15 days visa for Britains with proof of paid accomodations and fully paid return flight and valid insurance. 

👍

GoFundMe will go bankrupt.