aussienam

Various YouTube channels with a number of alleged tax experts/financial advisors who basically have interpreted the DTA with Australia and Thailand (a d other nations). Reading Article 18 and 19, if you had a private pension that was not listed as one of those that is tax-exempt (military pensions, certain civil service pensions) then yes, according to certain interpretations, you'd be potentially liable for tax if you remitted a private Australian pension, considering private pensions in Oz are tax-exempt. Other issues too such as franking credits from dividends seems not to be recognised in Thailand. Also, selling your property and being Capital Gains Tax exempt or the 50% discount for investment properties - not recognised it appears to me in Thailand. What about investment property income and tax credits from running costs, fees, depreciation, etc? These all reduce your tax liability in Oz. Recognised in Thailand? Plus our tax year is different to Thailand, so what about those who do not prepay tax,rather wait till their accountant lodges the return to the Australian Tax Office? What do we do? Get a half-year tax assessment in Oz? I could go on. Just so much confusion and uncertainty and potentially very costly double/triple accountant and notarization fees (on certifying documents) and a ton of stress and time, if this all goes ahead. If it goes ahead, many I am predicting, will just leave Thailand permanently.

Integrity Legal channel on YouTube hosted by a US lawyer who is a Thai National with an office based in Bangkok, has blasted those foreigners who have given tax advice, in breach of prohibited occupations for foreigners. He also has stated that the changes announced are still not a forgone conclusion and is potentially causing people unnecessary financial harm by scaring them into applying for a Thai tax ID. Even Thai citizens who are giving financial advice I would be wary of and not take it for granted they are correct. I believe for most expats, they will hold off unless they are communicated with relevant authorities. In the meantime, my personal feeling is minimizing remittances into Thailand, and not remitting any large sums of money to purchase condos, vehicles, other big ticket items in case of being slammed with a huge tax bill on top. Unfortunately, a lot of the Dual Taxation Agreements are unfair (in my opinion) and outdated in their approach to retirement income, such as privately funded tax exempt pensions being taxable when remitted to Thailand, but others are exempt and therefore unaffected due to that country's tax structure, agreement, or based on pensions sourced from tax-exempt occupations. Also other tax exemptions and tax credits in your country may not be recognised in Thailand. Overall most of us have paid a ton of tax in our lives and we spend a fair amount into Thailand into the community. Plus 'Plan B' considerations to resettle in another country if this all goes ahead and, like most, you don't want to have to spend under 6 months a year every year for the rest of your retirement life to protect your retirement income sources from this punitive tax.

Not sure what the criminal code is here, but perhaps a case for manslaughter (reckless manslaughter - reckless indifference) in that it would be reasonable to assume a patient was on board requiring life saving treatment, deliberately prevented that treatment by the other driver who didn't care. Of course an autopsy would need to confirm whether or not the patient had a fighting chance.

Bring on the cancer and Parkinson's diaease. Thank you China. And thanks to the greed of vendors selling it into Thailand. I bought 1kg off the back of a Song Taew the other day. Great. I rinsed them with water but probably ingested a good dose of cancer and disease causing poisons. Thanks you a$$h***s.

The selfishness with a lot of smokers makes me not surprised about this story. Add that to self entitlement attitude attributed to being spoilt in their first world cultures. "I'll just light up and screw the rest of you. I don't care if it is banned here. I don't care if people around me are offended with the foul smell. It's all about me".

Regarding domestic purchases by non-Thai citizens who are tax-residents - I would be assuming a drop in purchases since the announcement of enforcement of incoming remittance tax. I would add condo purchases to that as well as something most will now avoid. Nobody in their sane mind who is going to be subject to incoming remittance tax is going to be buying big-ticket items anymore in Thailand .... unless of course they want to spend more than 183 days out of the country in a calendar year so as to facilitate that purchase - a massive annoyance and inconvenience for most. I know expats here would be only a small percentage of vehicle purchases. Other expats who don't have tax exemptions on their remittances will also leave Thailand. We will all see how this pans out next year if Thai revenue department goes ahead to fully enforce this

The beach is not world class and never has been. It's dirty, the water is disgusting and uninviting. The source of the rubbish coming into shore I am guessing storm water outlets and insufficient sewer treatment plants. Farang bashing as the cause is also short-sighted. Sure, tourists and expats (farangs) are a contributing cause to the cigarette butts (dirty filthy selfish habit) dropped in the sand, but Thais also flock to the beach and drop rubbish there and from what I have seen, dump a hell of a lot more rubbish than farangs. Most farangs come from countries where we have mostly been taught to clean up after ourselves and not spoil the environment. Of course there are always a$$h***s that don't care. Dropping butts on the street and paths as well means they all end up washed into the sea. I curse people who do it.

Both ejected, so not wearing seatbelts - not that it seems it would have helped though looking at the torn apart vehicle. The destructive forces that caused that BMW be torn apart like that, means the speed at which this guy must have been driving must have been very fast. Young guy, full of testosterone, bravado, rich, in an expensive high powered vehicle, driving at excessive speed that doesn't allow him to react in time to dangers ahead - what could go wrong? Glad no bystanders were hurt.

What does it matter anymore for most expats to read this now? The incoming remittance tax and if they do it - the global income tax, are deal breakers for a huge % of us ever wanting to buy property in Thailand.

Yeah, let's dangle that carrot 🥕 - expats farangs can now pay Thai rates to national parks, ...... but we we are going to absolutely smash you with tax. That's fair? How about it!

It is getting riskier and riskier staying here. And cost benefit analysis? There is no cost benefit if all these taxes come to fruition. Zero benefit for the expat. In my opinion, now that this is all being proposed, mentioned by government, etc: it means there are many financial risks staying here in Thailand. Global taxation means risk of taxing offshore wealth, sale of personal assets and preserved funds (such as Superannuation) where tax exemptions and discounts would normally mean zero to minimal tax, could be taxed at much higher rates by Thailand. Unremitted money being taxed? Money not destined for Thailand taxed?Nightmare scenario. Massive headaches filing tax paperwork, double accountants (more expenses) and early tax reports for mismatched financial years in countries where tax years end different months. The ones that are 'tut tutting' the rest of us, are generally those who have their own circumstances where they are tax-exempt, pay taxes already via business etc in Thailand, have a tax advantage paying tax here or are just masochists. The majority of us do not have any advantage whatsoever. Anyone buying a condo or a new car this year, or any other big ticket item from remitted money is crazy IMO. You could face a massive massive tax bill, making that purchase a huge capital loss overall and therefore a very bad investment. I will not be buying any more condo or items here, am planning to exit and spending frugally. I may be taxed a bit next year but that will be the last time. And ready for an exodus.

I wouldn't say it's speculation when there have been several actual announcements made by Thai Revenue. That goes a bit above speculation. Thailand have joined CRS - Common Reporting Standards. There has been this new announcement by Thai government on taxing worldwide income (actually second one I have noticed over past few months). Not speculation. It's definitely cause for concern, not to be dismissed and ignored. Sure, they may backflip or water down the final decision and legislation. But it's definitely very worthy of solid discussion on the implications. Also, there very well may be those in government who become aware of the issues raised in these forums and helps guide decisions. There is a massive amount at stake for expats. I agree with you not to be making rash decisions. I'm not leaving right now. I am playing 'wait and see', like probably most others. But I am formulating contingency plans now as I become more and more aware of potential implications. These forums help raise awareness of things we may not have thought of. As to making rash decisions on buying property, cars etc in Thailand; I'd be holding off on everything that could result in massive tax bills and hold off committing my life more to this country (not marrying, not having kids, not getting into a relationship, not accumulating any more possessions, no pets, no longer lease etc) until it is clear what is going to occur next year. Even if it is still 'wishy washy' (uncertain) when or if it is going ahead next year as well and we are all kept in perpetual suspense, I still won't be committing. I remain frugal this year on spending and my incoming funds.

And as the vast majority of Australian pensions and annuities are tax-exempt in Australia anyway, suddenly as a Thai tax resident you are now being taxed on your normally untaxed pensions and annuities. Zero benefits.

Regardless of the amount of tax or definition of 'taxed', if it is below the Thai tax thresholds as per their tax scale, then they can charge tax on the difference. In my case with my Australian private pension, which I am planning to accumulate to near maximum contribution limits, I will be subjected to around 20% tax and more. Insane anyone's pension distribution would be taxed after being paid, but there it is. The new status quo and if there is no way out of it, I am sadly leaving Thailand. To others, they may accept this. Also, there is a whole category of certain pensions that won't be taxed in Thailand so those expats will remain. Ex Military, certain ex government employees, US Social security recipients and other foreign pensions that are pre-taxed above or close to Thai tax rates. It's really an unfair system to disadvantage others, as pre-taxed pensions are on average going to be very similar in amounts to the untaxed ones - just because of the way the country has structured tax payments. Dual Taxation Agreements have been poorly put together to disadvantage and discriminate. Wealthy retirees will just purchase a Long Term Visa and use that loophole to get out of paying tax. The rest of us are possibly screwed and it will cause a shift to other countries to retire instead. It seems for now that Thailand can no luck longer boast being a great, affordable retirement destination, especially with global income taxation on top. Imagine a loved one passing away to leave you inheritance? In Australia inheritance is tax-exempt. Let's say $200,000 AUD. And I decided to bank that and keep it in Australia. Thailand could tax me on my inheritance. Wow. And the money never left the Australia. A big risk is therefore having a family member, alive, who has you in their Will for a substantial inheritance and you are a Thai tax resident. You cannot predict the timing of someone's passing normally (awful to think about). Same applies selling property abroad if global taxation means they can tax me on what is tax-exempt capital gains in Australia, even if I don't remit it to Thailand. Losses of hundreds of thousands of AUD to the Thai revenue department (who will possibly also tax your tax liability funds sent to Thailand to pay the tax bill, as well because of remittance tax - tens of thousands of dollars AUD). Absolutely ludicrous to remain in Thailand under these circumstances.

She is a tax resident. If the money isn't classified as a gift it is tax assessable. They may connect the dots too since you aren't remitting funds any other way so are living off money sent to her. Not sure though. But I'd guess she'd need to declare that remittance and have it tax assessed