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KhunHeineken

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Everything posted by KhunHeineken

  1. Turns out Vietnam may not have to offer any retirement visa to get retirees for 6 months on the year. Thailand's tax policy is doing it for them.
  2. Yes. The price has gone up for living here, with no value added for a farang for the extra money.
  3. Add to that an unforeseen medical operation, and buying a new car. They both become more expensive when you get a tax bill for the remitted funds for paying form them early the next year.
  4. You will also have to keep an eye out this. Plenty on the internet about it, and plenty of debate about it in the Australia Forum. It's in the mail. Non resident tax is 30% from $0 to $135,000. Note, that's from the first dollar. No tax free threshold. https://hlb.com.au/tax-residency-changes-for-individuals/ Basically, Australia will change its 90 year old tax residency laws to a time based and physical presence model, like Thailand. Outside of Australia for 183 days, non resident for for tax purposes.
  5. The same tired old debate continues. How does the TRD know your remitted funds are of a category that is taxable, or not taxable, until you file and declare their source and amounts?
  6. Most pensions from around the world, if all of that pension is remitted each month, takes the pensioner over the tax free threshold. Most will have some tax to pay, that means a TIN, filing, declaring, getting a certificate of clearance. Just another earner out of farang, and another hoop to jump through in order to remain living here. Many have the strategy of doing nothing, because TiT, and all of this can not / will not work, however, I first brought up that a Certificate of Clearance may be another document required at extension time. That was "scaremongering" at the time, but now allowed to be discussed. It's the easiest way of enforcing the policy on farang. It makes you go to them, rather than them going to you. They will not get much out of aged pensioners, but whatever baht they get out of them will be more than what they got before, which was zero. Then, you have high net worth individuals, cha-ching. Time will tell.
  7. It's been the subject of a lot of debate in the Australia Forum. Most members saw the words "pension" and "source" and "contracting state" and celebrated that their pension would be tax free. When I pointed out to one member that Article 18 relies on the "provisions" of Article 19, and asked him if he was concerned at all about those provisions, his reply was, and I quote, "Forget about Article 19." Well, it just became comical after that.
  8. Well, geez, let see. Currently, most expats electronically transfer funds from their home country bank to their Thai bank using the bank's service, or companies like Wise etc. Both charge a fee, and make some money on the exchange rate also. The central banks of both countries are also aware of the transfer. Picture a society where you can pay for everything in crypto. You are paid in crypto in your home country, and you buy a beer or whatever with it in Thailand. No more bank needed in your home country, and Bangkok Bank, Kasikorn etc etc not needed in Thailand. You've cut out all the middlemen and saved some money, and if done in a certain way, private and untraceable. In summary, "migrants" will not have to pay bank fees and lose on exchange rates.
  9. Article 18 of the Australia / Thailand DTA relies on the provisions of Article 19 in the DTA, and Article 19 states government service pensions are covered by the DTA. The aged pension is not a government service pension.
  10. If this tax policy happens to the letter of the law, I can see this scenario being popular for new retirees. They have probably been working towards, and counting down the days to retirement, and then heading straight for Thailand, but they are probably going to have to wait 185 days longer.
  11. So, even knowing you do not want to work for them, you still strung them along for a work permit, that you don't want to pay a baht for, because you are going to work for another company, without even doing a day's work with the company that arranged the work permit for you. I hope you do not live on a high floor in your building.
  12. Did you ask her to make sure you are stiff before you are cold?
  13. Most murders, globally, are committed by people known to the victim? What that say about "trust?"
  14. Governments (tax offices) and Central and retail banks, all around the world, care. They are being bypassed and losing money.
  15. Couldn't you just give them an address of a friend or family?
  16. I would never suggest ALL, or MANY, or MOST, or a LOT, but you do admit they exist, so would you care to put a percentage on it, based on your observations?
  17. Got a new passport in 2023. I went and updated my passport ID with K Bank and my telco. Just strange how some got the email and others didn't, and what's more strange is, why is K Bank the only one doing it?
  18. Do you deny such home exist in the US?
  19. As a renter, this is not news to me. It's been happening for years. Due to the massive over supply, rents are so cheap here, and there's constant downward pressure on rental prices. As I have said in the past, the money that it would take to buy the condo I am living in, if I put it in a bank in my home country, which pays around 5%, the interest more than covers the rent, so why would I buy? You can't really own a property here anyway. I have the money invested that returns more than 5%, so the figures are skewed even more towards renting. When renting, no taxes or fees to pay, no repairs, upgrades or maintenance to pay, and the freedom to move at any time, should your condo building become a Chinese AirBnB, or for any other reason, like a nicer condo that is even cheaper. The figures show the whole "rent is dead money" argument has been debunked, and has been for years. I hope they keep building, and building, and building.
  20. I just looked at it. 27% are dependent. Very strange.
  21. Whilst I am sure your wife is "different" what if she takes that money before you die?
  22. Do you have a link for this? I would be interested in the break down of the other 70%.
  23. Sure, but my point being, they can raise it to whatever figure they like, at any time, AND, no grandfathering. They might want to clear out the the country of the ones that "aren't contributing to the economy anyways." Let's be honest, a western guy retires. He sells up back home, retires in Thailand, brings over a lump sum of money, buys a condo, a car, parties for while, and finds a Thai bride. Due to age, eventually, Thailand is not making much money out of him anymore. He has, effectively, past his use by date for the Thai government. They could try to grab some more from him, while he's still alive to do so, or be rid of him. Say they raised it to only 1,000,000 baht. How are all the pensioners living month to month going to find a quick 200,000 baht? Haven't they always been taking what they can get from farang?
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