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gearbox

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Everything posted by gearbox

  1. Yes the Brussels unelected puppets are ruining Europe again. Sadly the fix is coming either from the far right or the far left. Last weekend one of these types won the Slovakia election. The interesting part would start if the far right wins either in France or Germany.
  2. One potential issue I could see with your "separation" or "divorce" is if your Thai wife does it for real and claims half of your assets and more, plus child support. AFAIK the Thai women in Oz have their own forums and discuss these things, they even refer experienced lawyers to do the job. You may say"mine is different", but there are precedents. So your 2 year stay may becoming longer....
  3. This is not how it works, tax residence is separate from the usual concept of residence. I'm an Australian tax resident although I may spend as little as 1 week per year there, and by the looks of it I'm also a Thai tax resident if I stay more than half an year here. Different countries have different laws wrt tax residence.
  4. It all depends what information the two countries share. And this is not public info. I've seen people who got issued tax return adjustment notices in Oz as a result of data matching with foreign governments wrt foreign income. On the other end there is a tick box on the Oz tax return "do you have more than 50k assets overseas?", I know many people who have but never bothered to declare, nobody had any issues so far. My strategy would be to declare nothing and minimise any bank transfers, let's see if either of the countries issue me a notice.
  5. The OP has little idea what he is talking about. Consult the specific DTA with your country. Most DTAs are structured so people get tax credit for tax already paid in a foreign country. For example say the marginal tax rate in Australia is 45%, and in Thailand is 30%. If I earn interest 1000 baht in Thailand the Thai govt will tax me 300 baht (30%). When I file my tax return in Australia and declare income in Thailand of 1000 baht, the govt under the DTA between the two countries will give me a tax credit for tax already paid in Thailand of 300 baht, and will charge me extra 150 baht covering the difference to the 45% Australian tax rate. If there was no DTA then both Thailand and Australia would charge me their respective rates, 30% in Thailand and full 45% in Australia. I get regularly tax credits for tax withheld, and get charged extra tax to cover the tax rate differences for income earned in New Zealand.
  6. Actually the Chinese economy is doing quite well, for first ever time in this years' Fortune global 500 companies rankings the Chinese are number 1 with 145 companies. What Xi is doing is repositioning the economy towards high added value industries and it shows - this year the Chinese have a decent chance of being number 1 car exporter to Australia. The Chinese are slowly gobbling industries one by one. https://asia.nikkei.com/Business/China-tech/China-leads-high-tech-research-in-80-of-critical-fields-report
  7. Sweden and many European countries are just collateral damage. In a hindsight they should have closed their borders. Barring France with their colonies, most of the recent Muslim immigration to Europe is a result of wars, coups, regime changes and other interference by the US and their vassal state UK in north Africa, Middle East and Afghanistan. Merkel foolishly opened her welcoming arms, the Euro politicians should have loaded these refugees on cruise ships and dump them in Florida - they created the problems, let them have them and pay for them.
  8. That depends on many things. Some types of income are only taxed in the country of payment, for other types one gets credit. From the above document: "Subject to the provisions of Article 19, pensions and annuities paid to a resident of one of the Contracting States shall be taxable only in that State." On the surface it looks like the Oz pensions are exempted, but note the word "resident", many people choose to be non resident of Oz wrt tax. For dividends and interests there is no such exclusion, if tax is levied in Oz it can be used as a tax credit in the other state, and any tax shortfall after the credit is applied should be paid.
  9. Murky waters...I've read somewhere today at some Oz web site that in case of DTA if you are not resident in Oz for tax purposes, then you get taxed by the country of residence, which may be Thailand. Sounds fairly logical. Too many contradictory docos.
  10. Superannuation pensions are not taxable income, they can be taken tax free by non-residents.
  11. Well for those from Oz stuck somewhere outside our gubement wouldn't let us in unless double vaxed. My preference was Sinovac but was not available, AZ was getting some bad press, so I got Pfizered. In the hindsight I would go only with Sinovac or AZ, but I had to travel.
  12. Well those annoying Chinese got lucky in the end to get vaccinated with inactivated vaccines like Sinovac. The AN propaganda trolls have written thousands of of posts ridiculing and belittling them. When China was opening up last December it was like "OMG, many millions are going to die!" What happened? Pretty much nothing.
  13. Qatar doesn't sell tickets which don't include checked in baggage. "Economy lite" has 20kg included. https://loyaltylobby.com/2021/09/26/qatar-airways-new-fare-families-for-flights-effective-october-1-2021/
  14. Whatever the call centre operator told you is not true. I just went and tried to book directly though the Eva web site, for "Economy Basic" ticket it is written clearly - "Seat: Fees apply".
  15. What what?? Looks like you are from some part of the world which doesn't have "budget" or "low cost" airlines.
  16. It is good there are people flying business class, otherwise they'll raise the prices for the economy tickets. I fly economy only when I can't fly budget or is better to use my frequent flyer points. Entertainment is crap anyway, and there is no chef on board. With the budget airlines it is very cheap to move a lot of luggage like 50 kilos. The only gotcha is you need to have a jacket in the cabin, they ramp up the aircon initially to force people to hire blankets, after a while it goes back to normal.
  17. Many airlines started charging for seats, Qatar, Etihad etc.. Some like Singapore Airlines have now "economy lite" class with only cabin baggage included.
  18. Seats used to be extra charge only with budget airlines, now the so called "full service* airlines started charging as well. I pretty much never pay for a seat, just ask nicely during check-in and most likely you'll get seats together or isle seats. Relying on the online check-in usually produce worse outcome, seats are auto allocated by the software.
  19. There is also low income tax offset, which effectively lifts the threshold a little bit.
  20. https://www.expattaxes.com.au/tax-free-capital-gains-on-australian-shares/ However nothing beats holding assets in super in pension stream where everything is tax free and the franking credits can be claimed back. For the time being anyway...
  21. So the Russian interference in the US elections was legit then?
  22. It is up to the Americans which party they would choose, none of your business.
  23. Hopefully it is true, but usually this is not how the double tax agreements work. You are not exempt, but pay the difference in the tax rates. As both govt and private pensions in Australia are tax free, there is a difference between the Thai tax rate in the appropriate tax bracket, and the zero tax rate from Australia. I always pay the tax rate differences for dividends earned in foreign countries which have double tax treaty with Australia.
  24. "The program will begin January 1, 2024 and apply only to tax residents in Thailand meaning tourists and short term workers will be exempt. Also exempt will be those who have been taxed in a foreign country that has a standing Double Tax Agreement with Thailand. " That seems relevant only to people who are tax residents here. I don't have Thai tax file number and don't submit at all tax returns.
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