gearbox

17 minutes ago, JordyTwilightZZ said:

Open a position on Alibaba.

You thank me later.

Cheers !

Interesting...what is your prediction on BABA? They don't seem to be paying any dividends.

40 minutes ago, oxo1947 said:

What is your age ?

do you own your house/Condo ?

Your Pension income 420,000 PA basically just covers your Visa (if it is a married one) and that could change.

Or are you using a Agent,? if so then put the 800,000+ in a separate account & save on that fee.

When people talk about getting 5% from USA based funds--then you never know if you are going to lose on the future exchange rate.

I dont know what your situation is re transport is --do you have a car---will need a car.

 

For me AlienBoy---I would leave it just where it is, its not a lot of money---and there are bound to be bumps in life's road.

Unless your really fortunate.

I wouldn't take it out to chase the 2-3 % extra on that amount. Especially in a foreign currency.

From the other post OP stated he is 76 and in receipt of "state pension",  term usually used by Brits.

May he live until 106, but at his age investing for long run is probably not feasible. The world and markets seem much less predictable these days, nobody has predicted the Hamas move.

The key is to diversify, but with only 3 mil, with 820k of them locked for visa renewal that seems difficult.

If the money are already in Thailand and denominated in THB probably the easiest is to invest half in cash deposit, and the other half in SET companies which are paying good dividends, maybe an index fund made with these. SET companies don't incur capital gains when traded, and the dividends are taxed 10%.

At the age of 76 it is difficult being novice investor 😀

Also needs to take into account the tax residency and threshold of his home country, some countries tax on worldwide income.

1 hour ago, Tom H said:

Your nonsense becomes bigger and bigger. EU-V, China is in Asia located:).

We leave it like this because the FTA was followed with a tremendous EU investment in Vietnam.

 

Documented in Eurocham Vietnam:).

😉

 

FDI and FDA are not closely related, Vietnam attracts investments due to its educated workforce and work ethics, not whether a country has a FTA with it.

Anyway, straight from the official Vietnam sources about the FDI in first half in 2023:

https://www1.mpi.gov.vn/en/Pages/tinbai.aspx?idTin=58156&idcm=122

Singapore first, Japan second, China third, South Korea forth, EU doesn't even get mentioned.

Tremendous seems to be only your imagination.

43 minutes ago, Celsius said:

 

I am calculating like this for a 2 bedroom condo (that I will own).

 

$500 condo fees, $200 property tax, $600 food, $100 internet, $100 phone, $60 electric, $100 transport (no car anymore). Round it up to 1600 Canadian per month,... pretty much what I spend every month here on average without health insurance as I quit that paying last year when it was proven to me how useless it was.

 

So, these are basic living costs and I am sure someone soon enough will say "existence", as if 42,000 baht a month is not just existing in Thailand.

 

 

 

 

 

 

What do you fail to put in your calculations is the opportunity cost of owning your condo. I don't know what the rents are in the area your condo is,  but judging from Australia if you get 5% return on investment of the value of your condo you may cover all your Thailand expenses and have the $1600 extra for spending.

2 minutes ago, Tom H said:

You have no clue about FDI from EU to V.

I answered a post about FTA, not FDI.  Do you know the difference between these two?

20 minutes ago, Celsius said:

 

Yes. 

 

Because back in your own country you are protected against being ruined financially, But try to explain this to people who left decades ago and have no clue how things work anymore.

 

Even in the most expensive places on the planet like Toronto where I own a condo I am not allowed to raise rent more than 2% despite inflation being 10 while taxes and condo fees are up 20%.

 

This is why when I go back the first thing I do is claim my property back for "personal use".

 

And then sell it.

 

 

How the home country protect you from being ruined financially except emergency health care? Are you saying that $100k in your country would last longer than in Thailand? The retirees who deplete their funds in Thailand are free to move back to their home country and get the same benefits as if they never left the country before.

3 hours ago, still kicking said:

I don't care what the average rent is but mine is way below that. I haven't had an increase in more than 7 years and I don't live in the rip-off cities like Sydney or Melbourne. My rent is AUD 240 per week

You may live even rent free, but the hard facts are that the average rents are way way higher than your $240 per week. It would be a poor decision someone to move back to Oz with the expectation to pay what you currently pay.

34 minutes ago, Celsius said:

 

So you missed the entire point about government subsidies for low income people?

Most of the subsidies are already included in his pension numbers.

Health care is free for emergencies, but try to do things like hip replacement....the waiting period is probably 2+ years.

Yes you can get big discounts for public transport in the cities, but what's the point of moving endlessly around in the same city? There are no airfare discounts for pensioners.

I just read a feedback from one cyclist going from Gold Coast to Sydney...at Brunswick Head they wanted $76 from him for a camp site. Here you'll get 4 star hotel for that much.

Barring the emergency health care, the dollar goes much much further in Thailand, at least for the Aussies.

2 minutes ago, Celsius said:

There you go. Many won't like the truth tho

That's not the truth. His rental numbers are way off down.

https://mozo.com.au/home-loans/articles/what-is-the-average-rent-in-australia

In the article above the numbers are weekly rents. His pension is good enough to only rent and then live on tap water...at least the tap water is drinkable in Oz.

2 hours ago, Jingthing said:

That may be so but still beats living in a car and <deleted>ting in a bucket!

I'm above that level here but for quite modest levels of wealth and income I have a set up that I couldn't replicate in the U.S. for under at least a million dollars, more like two.

 

There are retirement destination countries where you can qualify for 600 dollars a month income and perhaps I'm wrong but I don't think Cambodia even checks income for retirement status.

 

Or there is the Philippines option of only needing to do a visa run every three years.

If there are too many of us, the prices will rise and negate some of the financial benefits, and the home countries may put extra restrictions on pension portability and fund transfers.

4 hours ago, Tom H said:

Maybe in a delay on the ratification of the European Free Trade agreement with Thailand?

 

Vietnam has one, btw.

Big success.

Big success for who? The Vietnamese don't have multinationals and big brands. It will be used by the Chinese and others to set up manufacturing there and funnel goods to EU tariff free,  same way as Australia gets a lot of "Thai" cars.

Ubuntu....use a LTS version like 22.04

1 hour ago, 4MyEgo said:

This is of concern to me as a non resident.

 

What has this all to do with the price of tea in China, well as a non resident I pay ZERO tax on my share portfolio and ZERO capital gain tax when I buy and sell shares.

 

 

Not true that you don't pay tax as non resident. You lose all the franking credits, and many dividends are 100% franked. If you are resident and have dividend income around $20k and if all is franked the ATO will give you a few thousands back.

https://atlaswealth.com/news/tax-treatment-of-dividends-as-a-non-resident-australian-expat/

1 hour ago, 4MyEgo said:

This is of concern to me as a non resident.

 

The reason I say that is because (not that I read the article) but saw a video the other day that said the rule, if passed, might come into effect 1 July 2024 (no hard concrete evidence) of that yet.

 

This proposal is a 2 sided coin:

 

1) 45 days in Oz would render you a tax resident.

 

2) The other side of the coin is, 3 years out renders you a non resident.

 

Now, for example, if I went back to Oz for 2 years to do my jail term to obtain the age pension, I would have to wait 3 years before I could become a non resident again, instead of the usual 183 days (current).

 

What has this all to do with the price of tea in China, well as a non resident I pay ZERO tax on my share portfolio and ZERO capital gain tax when I buy and sell shares.

 

So becoming a tax resident again for 3 years when I return to the LOS, would mean that I qualify for the tax threshold of $18,200, however that would mean that I would have to pay tax for 3 years on the money that I am receiving from my shares, which excludes any CGT.

 

Then once I obtain the age pension, that would have to be added to my Australian income as a tax resident and would easily push me into the 32.5c to the $ mark.

 

What people are failing to see is that this will effect those non residence of us who have a few coins stashed and comply with the current rules whereas we don't have to pay tax, suffice to say, they will have to weigh up whether is will be worth while going back for the age pension.

 

I hope it doesn't get passed, but like anything, if they can stop money going out the country, they will do it.   

Another angle to consider is that if you are non-resident for tax in Australia how does this play with the DTA agreement with Thailand and the proposed tax changes here. I'm not a tax expert at all, but "resident" is mentioned quite a few times in the DTA agreement.

2 hours ago, impulse said:

Question for those suggesting camping in a National Park.  Last time I went into one, they charged me 400 baht, which is close to the cost of a cheap fan room.  Is that universal, or did I just pick the wrong Nat'l Park?

 

Do you have a pink card? Last 3 parks I went to charged me Thai rate.

14 minutes ago, Celsius said:

 

 

I'd check myself for cancer from all the recycled oil you swallowed. 

What cancer do people get from the recycled oil?

1 minute ago, Moonlover said:

It would be helpful if the topic title indicated that is was referring to Australia!

Changed! It was posted in the Oz forum but these days people seem very sensitive wrt tax residency 😃

The article is behind a paywall, but displays a few paragraphs for the people who can't access it:

https://www.afr.com/politics/federal/business-travellers-tourists-could-be-caught-in-new-tax-rules-20231017-p5ecvy

Basically anyone who spends more than 45 days in Oz may be classified as a tax resident.

This is an ongoing discussion but if an article appears in a well connected paper as AFR maybe something is on the table for the next budget or soon later.

7 hours ago, hotchilli said:

https://www.youtube.com/watch?v=5rHA5d42NeE

 

I watched 10 minutes...this fella has no idea what he is talking about. The investment banks have much more resources and access to data to make a call.

25 minutes ago, In Full Agreement said:

 

The OP wants to call businesses in Oz.    It'd be very uncommon for banks and such to have a Skype calling option.     How much is you monthly sub. for calling Oz on Skype?

 

I don't have a subscription, I use Skype credit to call businesses in Oz including banks, you can use virtual phone keypad to select from menus. The rates are 2-3 cents per minute to landlines, and when you dial the number, it displays the rate before you place the call.

1 hour ago, hotchilli said:

Well informed Youtube analysts who follows Chinese market closely.

China is in negative inflation, production cost are rising, manufacturers are going broke.

Mass factory cities who were once busting with export orders are now deserted.

Whole towns virtually devoid of workers, and with that goes the local supply chain, shops, markets,  shopping malls and food outlets.

Maybe you should keep up to date a bit.

https://www.cnbctv18.com/world/chinas-growth-beats-forecasts-as-consumer-spending-improves-18083021.htm

Many of the big banks like Citibank upgraded their China forecasts for this and next year.