KhunHeineken

You have answered your own questions. Yes, the Super company doesn't care. Yes, you need to be in Australia at the time to benefit from being a resident for tax purposes. Yes, the ATO know you are outside of Australia. They may not know which country you are in, but that is irrelevant to them. This will most likely trigger some more inquiries, and when they see you haven't been in Australia for, in your own words, "a long time" you will be deemed a non resident for tax purposes which MAY open up a big can of worms for you. The guy from the Super company told you it's "sketchy tax wise." I am saying it's risky. A VPN can't get around immigration records.

Risky.

Isn't that where your withdrawn Super money earned the "interest" that you mentioned in your OP? You said: "I have already made a first small withdrawal a year ago and in that time the money has earned interest. " Where did you earn this "interest" from if not in a bank?

You misread or misunderstood. I never said there was 32.5% tax to pay on withdrawing money from your Super fund. This is what you said in your OP. "I have already made a first small withdrawal a year ago and in that time the money has earned interest." I am gathering that interest was earned in a bank account. Therefore, "interest" was earned outside of your Super fund, right? You then said this: " I am just wondering if the interest I have accrued after making an initial and further withdrawals is taxable?" The interest your withdrawn Super earns in a bank account is income, therefore, taxable. If you are a non resident for tax purposes, it's taxable at 32.5%. This is also what another member, gearbox, said: "If your money is outside super then the non resident rules for interest apply." This is what you also said: "It is a fairly small amount anyway, probably under the tax free thresh hold although I been here a long time now and non resident for tax purposes." If you are a resident for tax purposes, you have the benefit of the tax free threshold. If you are a non resident for tax purposes, there is no tax free threshold. I have posted the non resident tax brackets. It's 32.5% for $0 to $120,000. You seem to think that money taken out of Super can not be taxed because it came from a Super fund. This is laughable. Once you withdraw money from Super, and have that money "earn" elsewhere, like interest in a bank, rent from a property etc, it's income, and if a non resident, taxable at 32.5%. Basically, once you withdraw money from your Super fund, it's the same as any other money. Eg. savings. I can't make it any clearer.

I agree. We are easy targets, with no votes lost, and there's another revenue stream just stilling there untapped. The Thai's will turn a baht out of it, either officially, unofficially, or both. For a country famous for military coups, nothing surprises me here. I expect the unexpected. As I have said before, the policy is a mess, so I expect them to make up the rules on the fly. It may even be different experiences, for different foreigners, living in different provinces. Who knows? We'll all get to see how it unfolds early 2025. Maybe the policy will disappear, or maybe it will remain but will have no impact on expats. I just suspect the Thai's have something up their sleeve in relation to this policy.

I don't know what nationality you are, but do you have to give your bank some type of Tax Number in your home country? Do the banks in your home country report large deposits to a government agency? As I have said, you have to supply your TFN in Australia, and any transaction over $10,000AUD is reported. If Thailand was to require the Thai banks to do the same, I wouldn't be shocked, and that's why I put it forward. For all we know, the Thai government is looking at western banking / tax systems with a view to doing the same here. Call them proxies, or whatever, but you even say yourself the banks already withhold tax on Thai's, but given a lot of Thai's don't have savings, as mentioned, living hand to mouth, there's not much tax to withhold. Of course, immigration has nothing to do with Thai's. I've used the word "enforcement" before but perhaps a better word may be a "requirement" to have an annual document from the TRD as part of your extension renewal. Like I have said, you need a bank document showing 800k Thai baht. They can easily add a document from the TRD to the list. Remember the health insurance policy? To be honest, I'm not concerned about what they do to the Thai's as far as this tax policy is concerned. They are Thai, and that's a matter for them at the next election. As foreigners, we are easy targets, and have no rights here. I have never thought I have been, or should be, treated like a Thai here, particularly as Thailand offers no reasonable pathway to gaining permanent residency / citizenship. Can you clarify where you stand in regards to this policy? Do you think the policy will be in force but nothing will happen? Do you think they will try to get the policy working but it will be all too hard and they will repeal it? Do you think the policy will remain but they will change it, significantly, in order to make it work? Do you think foreigners will eventually have to pay tax on remitted funds? You are critical of what I have predicted the Thai government MAY do, but I am unclear of your view on the policy.

Isn't that the nature of many of these new tax threads? That is, times are changing, and it's possible they will start collecting this tax. We all know a lot of Thai's live hand to mouth. Also, a lot work in the black or cash economy. No secret with this. I don't know how many of them make up the 89%, but what we do know is a lot send money home, either domestically, or internationally, to their family. I would suggest, the majority of that money flows through Thai bank accounts. You did say this, "All savings accounts are subject to a withholding tax on interest earned, except children under age 18, this is not just a rule for foreigners." If this is the case, the TRD isn't exactly taking no action, are they? I have suggested it would not take much effort to drag expats into the Thai tax system, and have given some examples of options available to the Thai government for doing so. I would find it hard to believe the government have not thought of the obvious ones that myself, and many others, have put forward. It may end up being one of them, or a mix of some of them, but in my opinion, and I'll say that again, in my opinion, I think the "doing nothing" option will not be available to foreigners early 2025. We will all just have to wait and see. I really do hope I am wrong and "doing nothing" is an option. However, and as BMT alluded to, despite incompetence and laziness, I can't see the Thai government announcing big changes and then allowing everyone to "do nothing" whilst they also continue to "do nothing" about the changes. If the Thai government planned on "doing nothing" about collecting this tax, why would they waste their time even announcing the policy? They must have something up their sleeve.

I explained your highlighted part further in my post. It's where I agree with BMT. This what I said: "What will be interesting is all the clauses in the policy about was it savings before 2024, gifting etc etc blah blah blah. I think these will be too difficult for the TRD, and this is where I agree with BMT, but I think they will fall by the way side and you will just be told to pay tax on total remitted funds or no extension for you. " I understand you believe the law will be implement to the exact letter of the law, but I don't see it going that way, unless you are bringing in millions of dollars, but for most expats, I can't see the TRD looking that hard into an individual's offshore income / savings etc. I even mentioned maybe it's all about just paying 300 baht for a TRD document, like we do for a Certificate of Residency, which should be free. I am looking at every possible angle of this tax law, and considering what moves the Thai government may make. I have put forward some opinions, and some facts, and a few predictions. Internet forums are about members putting forward information, opinions, facts, interpretations, links, predictions, personal experiences, even rumors etc etc. I think calling it "nonsense" is a bit harsh. I remember being ridiculed when I said legalizing cannabis is on its way. Yes, called "nonsense" also. I've also stated it's only a matter of time before Thailand has casinos. Yes, another "nonsense" call, but we'll see. I have simply put forward my thoughts on this policy, and how I think the Thai government will make it work. I am not saying I am right and everyone else is wrong. From memory, I think you have predicted it will be all too difficult for the Thai government to implement, so it will basically disappear. Correct me if I am wrong. I have considered your view, and it's possible. I don't view anyone's opinion as "nonsense." For me, anything is possible with this mess of a policy. Like many things in Thailand, maybe it was designed that way to operate completely in a grey area, so it can be manipulated as seen fit. We all know Thailand likes its "grey areas" so on that basis, I suggest nothing is "nonsense." For the record, I'll say it again, I just can't see the Thai government allowing the majority to "do nothing" which this poll shows seems to indicate what most will be doing, being, nothing, and I have put forward my reasons. I accept many may disagree with me, and that's fine. We will all know early 2025, but until then, I see nothing wrong with looking at it from all angles and discussing what the Thai government may or may not do.

It's hardly "Chinese/North Korean control." As other members said above, it's already happening to some degree. I have to supply my bank in Australia with a Tax File Number (TFN) or tax on interest is withheld at near 50%. Also, any transactions over $10,000AUD are reported to a government department. (AUSTRAC) It's nothing new to me, or many other westerners. Our various countries already know what money flows into our accounts, and how, and from who and where, under anti money laundering, anti terrorism, and proceeds of crime laws designed to track money. As Mike said, Thai's are already doing it with the ID card number, that doubles as their tax ID number. All the Thai banks would have to do is tweak existing infrastructure (computer data bases) to report the amount each account holder remits at the end of every year. Easy to do. It's not a privacy issue, like China and North Korea, it's a tax evasion issue. What I suspect MAY happen is foreigners will need an end of tax year statement from their bank which shows total remitted funds / deposits. This document must be taken to a TRD office where the appropriate tax will be paid by the foreigner. The foreigner will then be issued a document from the TRD. The foreigner then keeps this document until extension time where it must be produced to immigration. It will just be like paying another bill. I do agree with BMT that Thai public servants can be incompetent and lazy, but if what I have described above is the way the Thai government is going to implement this policy, you can see it makes the foreigner do all the work and approach the TRD, so no "chasing" involved, and the requirement from immigration for the TRD document is a simple and easy way of enforcement, with no work for immigration to do other then sight the TRD document. What will be interesting is all the clauses in the policy about was it savings before 2024, gifting etc etc blah blah blah. I think these will be too difficult for the TRD, and this is where I agree with BMT, but I think they will fall by the way side and you will just be told to pay tax on total remitted funds or no extension for you. The Thai government knows this will be an easy and big earner for them. With around 75% of the poll voting for doing nothing, I just can't see them allowing everyone to plod along doing nothing, and only targeting high wealth individual Thai's. They probably already have a plan in place, and if they don't, they have 7 months to come up with one and put it out there through the media. Maybe they haven't done this on purpose so many "do nothing" and they get more tax from the 2024 tax year. I guess we will all see what unfolds between January and March 2025, but I am already using ATM's with my foreign Visa card and keeping the receipts, plan a cash run when I go to the F1 in Singapore, will have my son bring in some more cash when he holiday's here, and I am planning a more longer term strategy for 2025. I have mentioned I like to fly under the radar here, but I actually think in this case I might have to pay the TRD just a little in the hope that I don't attract any unwanted attention for somehow being able to live here without remitting funds. It will all unfold early 2025. Interesting times ahead.

Just in the way you have to have a document showing your 800k Thai baht at extension time, you will need some type of document from the TRD. Immigration will do nothing but sight / retain / copy this document before issuing the extension. This forces expat foreigners to approach and deal with the TRD. For immigration, it will be as simple as that. The dealings with the TRD may be more complex. Once again, this is for another thread, at another time, but many expats are expecting this future requirement, including myself. Time will tell. I have said before, for this policy to have any chance of working, Thai banks will have to be onboard. If / when Thai banks start recording and reporting in accordance with this tax policy, this is how Thai's "doing nothing" but remitting funds from offshore, will come under notice.

This is why I have said the policy will involve visas / extension in the future. It will force foreigners to act, and make foreigners approach the Thai government, rather than the government chasing them. This is for another thread, at another time, IF it happens, but the Thai government's solution for people choosing to just "do nothing" is easily fixed, as mentioned above. Time will tell.

The should have had had another option. "I am remaining in Thailand but will access funds in the most tax free effective manner."

I disagree. Death, taxes, and computer viruses are certainties in life. No program is perfect. We have seen how the Chinese and Russians breach the security of major organizations, some of them military, all around the world. Trend Micro also offers other features, such as locating a lost / stolen device. Yes, I know Google offer this also. They offer a password manager and some other things. You get a monthly report on attacks blocked etc. I am not criticizing those who use MS Defender. I just like to give the task to a third party to minimize reliance on Microsoft for everything. If it was expensive I would most likely reconsider, but it's quite affordable.

So you don't think the proposed changes will be passed.

I'm one of these members. If it's so easy to "gift" money in order to avoid tax, they will either lower the limits significantly, or tax all "gifting" in the future. Wealthy individuals like Thaksin will need more complex corporate structures to avoid the tax, which I am sure his team of tax lawyers can create for him, but for everyone else, I can't see them allowing "gifting" to remain in place the way it is now. which pretty much negates the taxing of remitted funds, so I can see changes to "gifting" in the future. Time will tell.

I am talking about at the boarder. What happens? I don't expect anyone to know what happens behind the scenes. I am asking what happens at the boarder. Are you waved through? Are you pulled aside? Are you questioned? Etc etc.

Is English your first language? You still don't think it will happen then. We'll see.

Really? So, that's all. Bring in $1 million USD by signing a piece of paper. No questions to answer. No other records kept. Have you ever done it?

Has a member ever brought in over the allowed amount of currency, but declared it? If so, can you comment on what happened?

Yes. Why would you bother leaving 800k baht in a Thai bank for a retirement visa / extension when you are staying just less than 6 months here a year? 3 months in - 3 months out - 3 months in - 3 months out shouldn't cause any problems with immigration. The 800k baht invested elsewhere, at a better rate, will pay for the travel costs.

I had a similar problem a couple of years ago. The first and obvious question, do you have a few bars of service? Is it an Australian phone number that the SMS should be sent to? If so, send your Aussie number a SMS from your Thai phone. Use +61 and leave out the "0" (zero) on your Aussie number. If an Aussie number, did you switch on roaming? If no texts are coming through, it may be the APN settings in the phone. I had to ring my telco back in Australia and they reset things at their end and it still didn't work. I then spoke to someone in the tech section and added the latest / correct APN settings, restarted the phone, and I could start receiving SMS's whilst roaming in Thailand. One of the above may be your problem. Sorry. Just read your post again and see that texts are coming through. Sometimes I get a text a couple of hours later. It could be network congestion in the sending country or Thailand.

It all gets very interesting, should the wife die before you.

Yes, but some interesting tax implications are on their way, both in Australia, and in Thailand.

Very wise, and I agree. There may be more at play here that will unfold as time passes.

It's not a dream, it's a plan, and it's not just for Americans, many other western people feel the same.