acepredator

On 8/31/2024 at 3:21 PM, flexomike said:

Can you explain how the DTA was claimed on your return. Are you also working in Thailand where you are required to pay taxes. My money transfers this year were entirely from direct social security deposits to my Bangkok Bank account. Really hope they come up with a statement that they will not be taxing US Social Security deposits.

Under the DTA between the U.S. and Thailand, Social Security benefits can only be taxed by the IRS. It is clearly stated in Article 20, subsection 1 of the DTA. I suggest you print up a copy of the DTA, as I did, in the unlikely event that you have to offer proof to the Thai Revenue Department that they absolutely cannot tax even a single penny of your Social Security benefits.

On 8/23/2024 at 3:33 PM, retarius said:

Half of the country believes in MAGA. Trump is too old at the next election, but Musk is a young man with money to burn. Don't count Musk out carrying the MAGA flame in 2028. 

Musk my carry the MAGA flame, but he won't be the Republican nominee. The U.S. Constitution says that only a native-born American can serve as president. Elon Musk was born in South Africa. Therefore, he can't be a candidate for president of the United States.

On 6/18/2022 at 7:36 PM, Adumbration said:

I predicted to a friend last week that I think it will find a floor around 10KUSD.  If you look at the life time graph that looks about right.  My friend argued tooth and nail with me that it would not drop below 20K.

 

What do you think....and why?

I think that, regrettably, I lack the power to predict what future events will come to pass. I also think that you lack this same power. The reason why is that, as humans, we do not and cannot know what will happen five minutes from now, never mind five or fifty or five hundred years in the distant future. Why would you waste time submitting such a nonsensical post?

On 8/17/2024 at 1:40 AM, GammaGlobulin said:

Note:  Gods Bless the Boomer generation, if nobody else will....

It's long past time for the Boomer generation to find a beautiful, happy, and serene utopian Star-Trek world to inhabit and leave this one forever. Your pining for and whining about the loss of the halcyon days of the 1960s has been extremely tiresome for the last fifty four years. The 1960s were no better or worse than those decades that preceded them or followed them; they only presented different realities and challenges in everyday life. Please get on your spaceship and blast off soon. I'll be there to wave goodbye as you leave Earth's orbit, hopefully never to return.

I lived and worked in South Korea for twelve years. Nearly all of the Koreans that I knew personally were exceedingly kind, generous, and helpful people. The vast majority of the people on the streets, buses, and subways, sad to say, were horrible, not only to me as a foreigner, but also, to a lesser extent, horrible to each other. Koreans are extremely rude, aggressive, inconsiderate, pushy, hostile, and self-centered people.

The concept of forming a line (or a queue, as those still using antiquated English say) is totally alien to them. Leaving South Korea was like being released from prison. Then why stay for twelve years, you might ask. The answer is: CHING-CHING!!! The considerable amount of money I made there has allowed me to retire here in Thailand and to live the remainder of my life, I hope, in serenity and comfort. 

I just completed this quiz.

My Score: 80/100

My Time: 72 seconds.

Currently in the lead among all players.

5 minutes ago, KhunHeineken said:

Yeah, it does. 

 

I'm Australia.n  It's a different DTA. So that's doesn't make me "wrong."  Right? 

 

Have you heard of the country called "Australia?"  Do you know where "Australia" is?  Hint:  It's not in Texas.  

Yes, I understand that it's located a bit south of Texas. Also, that it's famous for it's beautiful beaches (not on a par with Hawaii, but not too far off), Foster's Lager (much better than Heineken), and standoffish women. I'll take a lovely, sweet, welcoming, and accommodating Thai woman any day of the week. 

On 8/11/2024 at 9:48 AM, KhunHeineken said:

A DTA ensures the same money is not taxed twice.  A DTA does not ensure the money is only taxed in one country. 

 

What you post about is a common myth, which this guy explains quite well.

 

 

 

Wrong. Under Article 20, subsection 1. of the DTA between The United States and Thailand, government pensions, which means Social Security, can only be taxed by the United States government. Under subsection 3. of Article 20, annuities, which pay out funds in predetermined amounts at regular time intervals, also can only be taxed by the United States tax authorities. Maybe the DTA between your country and Thailand says something different. 

On 8/7/2024 at 11:11 AM, norbra said:

Self care 60k

Aged allowance 190k

Pensioner 100k

Tax free threshold 150k

The tax free threshold of 150k is not a deduction. That amount is not subtracted from your gross income to arrive at your net income. The 0 to 150k is merely an income range at which no taxes are levied. In my case, my gross income is 1,000,000 baht (not counting my government pension, which is 100% deductible). I deduct 60k for self care and 190k for aged allowance, giving me a net income of 750,000 baht. I cannot deduct a further 150,000 baht for the tax free threshold. This would give me a net income of 600,000, which is not the case. As stated, my net income is 750,000 baht. It pains me to inform you that you do not understand what the word "deduction" means, at least as that word applies to gross versus net income for taxation purposes. 

On 8/6/2024 at 8:21 PM, advancebooking said:

I think a lot of (honest) farang are worried about the new tax laws bc they were raised in a nanny state. They do not understand that TIT. The revenue dept's in your local province where you live have NO idea. They cannot even effectively tax their own citizens. 

 

Why on earth would you worry or abide by the new proposed laws. The rev dept will be relying on people to be honest and declare the said income. BUT if you dont do you think they can do anything about it....

The Revenue Department sends a letter to my address every year telling me that I have to file a tax return by March 31st. Clearly they know who I am and where I live. Your contention that the Revenue Department can't enforce the tax laws against foreigners, or even against Thais, is patently ridiculous.

On 8/6/2024 at 7:55 PM, norbra said:

There's a lot of information on the forums re reducing your tax liability.

When the news first broke about the closing of the loophole regarding remits,I ran my numbers against TH taxable income and I was looking at 60,000baht tax pa.

But keeping up with the many posts I was able to determine that as a single,aged pensioner I can claim 500,000 thb as allowable deductions so with out trying to find further loopholes my liabilty is now 3,000 thb pa.

With 5 months remaining in this tax year I could reduce my remits to a level where i am tax free.

Remember all earnings prior to 2024 you may have saved and remitted are not assessable.

 

Last month The Thai revenue department refused my application for a Tax Identifier Number because my income was in my home country currency and I had no income from employment in Thailand.

So I cannot file a tax return because I don't have a tax id number.

Go see your revenue office and get current information about your circumstsances

How do you get 500,000 baht in allowable deductions? Every taxpayer gets a 60,000 baht deduction. Those over 65 years of age get an additional 190,000 baht deduction. That adds up to 250,000 baht in deductions. Where does the other 250,000 come from? Also, I have never worked in Thailand but I have a Thai taxpayer ID. Why would you have been refused? The Thai Revenue Dept. wants foreigners to pay taxes, so of course they gladly issue us taxpayer ID numbers. It's a very simple process. What you said in your post just doesn't add up.

20 hours ago, acepredator said:

Whenever I need money to live on, I take 20,900 baht from a Bangkok Bank ATM. That's 20 x 1,000 baht notes, plus one 500 baht note and four 100 baht notes. That's a total of 29 notes from the ATM. I have never had the slightest problem taking those 29 notes from the ATM slot. Your assertion that 18 notes is difficult to remove and that the machine could not dispense more than 20 notes seems very bizarre to me in that it is totally contrary to my experience using Bangkok Bank ATMs for 17 years. 

Sorry. I submitted this post very late at night (or actually very early morning) so my math was a little bit off. I should have said that I withdraw 25 notes without any problem, rather than 29. Any confusion generated by my post is perfectly understandable. I regret the erroneous nature of my original calculation. 

On 8/1/2024 at 9:33 AM, bamnutsak said:

There may be a physical limitation (size of dispensing slot) which in turn limits the amount that can be withdrawn.

 

I know I have a tight fit at the 18,000 amount (Bangkok Bank ATM), which requires some effort to pull the stack out of the slot. I'm not sure that ATM can go much greater than 20,000?

 

The home bank may have a limit (say $500 per day), which limits the THB to ~17,000/18,000.

 

The dispensing ATM may have a physical limit.

 

Some folks say they do counter withdrawals, where the limits may be higher.

 

 

Whenever I need money to live on, I take 20,900 baht from a Bangkok Bank ATM. That's 20 x 1,000 baht notes, plus one 500 baht note and four 100 baht notes. That's a total of 29 notes from the ATM. I have never had the slightest problem taking those 29 notes from the ATM slot. Your assertion that 18 notes is difficult to remove and that the machine could not dispense more than 20 notes seems very bizarre to me in that it is totally contrary to my experience using Bangkok Bank ATMs for 17 years. 

On 7/29/2024 at 9:12 PM, Sheryl said:

I just completed this quiz.
 

• My Score
  100/100
• My Time
  51 seconds

It helps to be an American! (And an older one. LOL)

My score 100/100. 49 seconds. Probably older than you are and living outside of America for 29 of the last 30 years. 

6 hours ago, bkk6060 said:

One could bring in 700 MREs in a couple of very large suitcases.  Just say you are going to help feed the hungry.

I think that 700 MREs would require a much bigger shipping container than a suitcase, no matter how many. Also, as a U.S. Army veteran with two honorable discharges, I can attest to the fact that MREs grow tiresome very quickly. I couldn't eat seven MREs in a row, never mind 700. 

On 5/19/2024 at 3:08 AM, Lorry said:

Buy a condo from savings you had before 2024. Do not rent.

 

Bring things to Thailand . Don't bring money to buy those things here (if price is similar). Remitting money is taxed, bringing stuff is tax-free.

E.g. buy from iHerb (pay with your home-country account), not from a local (who imports from iHerb anyway).

Buy your mobile at home,  it just got 35% more expensive here.

 

Spend your holidays outside Thailand, the family trip to Samet could become a family trip to Malaysia, which isn't more expensive but has a lot more snob-appeal. Pay in Malaysia with money from your home country.

 

Buy air tickets abroad,  don't buy them in Thailand (often cheaper abroad anyway)

 

Do not be the banker for other people (mostly family), all must use their own accounts for their expenses.

 

Do not sponsor too many girls with regular payments.  There are other ways to help them.

 

 

 

 

Bring things to Thailand rather than buying them here. What a great suggestion. All I have to do is fly to my home country and bring back enough gasoline to power my Yamaha motorbike for the next year. Also, I'll bring enough food to eat for the next year. Genius. Why didn't I think of that?

7 hours ago, Everyman said:

You don’t need a calculator. The number is zero. 

Thanks for your very specific and enlightening post. Would you mine elaborating and telling us exactly which number is zero? "The number is zero" has to be the most absurdly vague and meaningless post I have ever seen on this forum. Good job. 

2 hours ago, ChaiyaTH said:

That is no issue for my skill level of programming lol, I could essentially fk them if i wanted too + book all every day. Then none of you would ever get an appointment again lol. I'm not joking here.

Wow!!! That's very scary. Why would you want to make life difficult for the foreigners who live here and need to extend their visas every year? The people who need to book appointments never did anything to hurt you, did they? 

Also, I assume the Thai authorities would consider what you're suggesting to be a serious computer-related crime. With your superior programming skills presumably they wouldn't be able to apprehend you. But what if the police are more clever than you think? The best case scenario is that you'd be fined, deported, and blacklisted for at least five years. The worst case would be that you'd spend time in a Thai prison, which, from what I've read, are not very nice places to find yourself. Would it really be worth it? We know what the risks are, but what would the possible benefits be? What would you stand to gain? Why not just live your life in peace and let other people live theirs? Is that such a bad idea? 

10 hours ago, ChaiyaTH said:

Maybe I should make something where you fill in your details upfront and a desired date, then it checks it + books it at midnight every day >< Would be like < 1 hour work to make.

I'm afraid that wouldn't work. You can only book a single time slot. If you attempted to book a second time slot, the slot that you had already booked would automatically be deleted and made available to somebody else.