aussienam

On 8/21/2024 at 7:37 AM, new2here said:

 

I agree that Thailands direction relative to what I’d call a “value proposition” for retirees is becoming less and less valuable … but… like it is with tourism.. rightly or wrongly.. thailand has had - for a long time - a near teflon coating .. and while they may implement X or Y rules that are clearly a net negative for a retirees, there’s STILL a large number who come.. so… i’d argue, so long as that trend doesn’t stop, there’s simply no incentive for Thailand to make it better…there will still be X thousands who come each year ….  plus, another point, retirees don’t vote.. and from a political ends, hitting a non-vote eligible segment of the people is a safer way to extract revenue than a voting segment. 

 

Short sighted? perhaps.. but again, it’s one that seems to have worked for Thailand for quite some time .. therefore I’d argue there’s no impending incentive for them to loosen up or change the rules in favor of a non-citizen. 

Unfortunately I think you are right.  But for many current expats, a sudden 15% (ballpark average) increase in cost of living (or alternatively a 15% decrease in spending ability), will not sit well at all for many.  I would be interested in how much influence on the property market expats have?  Most likely buy a place long into their settlement in Thailand, so would be already tax residents for tax revenue purposes.  Now there is a massive disincentive.  A massive upfront 'capital loss' equivalent.  

Are foreign investments into the property market by mainly non-residents overall?  

Again, I ask, what is the benefit for expats now?  Zero.  The same overpricing in hospitals, attractions, foreign titled properties, etc.  We still can't open a business easily and severely restricted work-wise or outright banned.  

Where will the tax money go?  Submarines, fighter planes, and who knows where else.  Thailand has in one foul swoop just made living here significantly more expensive, less attractive, more hostile, more bureaucratic, stressful for expats with tax management and accountants, documents etc.  

Thailand, a developing nation acting like a first world one with this tax implementation, without any benefits.  

Maybe it will cause a purge for those of us who won't accept this and eventually a new breed of expats will come in instead.  But places like the Philippines may well significantly benefit as a preferred expat-friendly, tax-friendly choice and help property up their struggling economy instead.  Plenty of poor people i could help over there.  I won't be paying charity to Thailand anymore I am sad to say if Thai government taxes my donation money. 

Sorry to those foundations who will lose out.  But your 'caring' Thai government can support you instead with the tax revenue collected (not). Really sorry.  

Sorry to the poor families in Issan and other rural areas of Thailand who will no longer be supported. 

Sorry to the many relationships that will dissolve as expat budgets - too stretched with the tax, won't be able to afford taking care of their loved ones.  Relationships just got a hell of a lot more expensive.  

Some may consider the 'gifting allowance as a loophole by sending money to their partner, which there is a tax exemption for.  It is stipulated if it is found out that you are in any way using that as way to evade tax, there are penalties. 

And, I can see some expats seeing this as a possible way out, may choose questionable Thai partners who will scam them out of a large sum.  Beware.  

I love Thailand but it seems it is likely time to soon say goodbye.  My retirement here no longer is what I considered attractive. I will wait and see how it all pans out next year.  I have brought in minimal amount of money this year and spending very frugally. I was going to buy a car but not now. A permanent home is out of the question now.  

That's my 5 Baht worth.  Likely falling of deaf ears.  

This topic sounds a bit 'click bait', but regardless, 'handsome man' topic has been talked about for decades.  

In this country,, in this environment, it's overwhelmingly a pretence , a false compliment to lure in the gullible and those seeking validation from women. 

Let's face it, most guys don't get complimented much, if at all, in their home country.  To hear it uttered to you, initially is surprising and for some an instant ego boost.  It's pure fantasy of course.  Probably many guys don't want to know the truth, but just go along with it and those 'feel good' endorphins that these women know how to produce in you.  A compliment, eye gazing, the woman's touch and attention, etc.  

Sure, there are 'Chads' who are truly handsome dudes.  Of course.  And girls, who are used to making "handsome" comments, will say the same to them. 

This is where you meet the delusional men.  Those with high self esteem, who actually think they are Chad's, but are far from being attractive.  Same goes with vain women who rate themselves much higher than they are thanks to SIMP attention and online validation. 

For the 'two week millionaires, no harm done.  An ego boost and after they've departed with tons of money to people who couldn't care less about them, you hope they cut all ties and just have fun memories. 

Unfortunately, there are many who get sucked in, believing the lies. They see the pleas for money, being those of a poor woman who has met their 'white knight' and it is up to the unsuspecting guy to be their financial support and 'save' them.   

End of the day, old dudes are not handsome men to young fertile women.  Don't be delusional. Enjoy yourself but don't get sucked in.  It's all business.  It won't stop many guys though..... "but this one's different...".

Supersight surgery is just a marketing term for what is usually referred to as refractive lens exchange or intraocular lens exchange surgery.  

Dr Somchai at Bangkok Pattaya Hospital is an ophthalmologist who specializes in this. 

I went to see him and I was considered a good candidate for the surgery. He prefers the Carl Zeiss LISA model trifocal lens. That means great near vision, middle vision and far vision. There will be blurred points in-between but your brain will neuroadapt to this and you will not notice or rather will adapt to the focal points.  It is a premium lens. 

There are other premium lenses - mutlifocal lenses that promise to deliver vision near all the way to far vision and EDOF or extended depth of focus lenses that allow good vision from mid to far but may need reading glasses. 

Depending on your needs will determine what lens is recommended, however ophthalmologists tend to often have bias towards a particular lens based on patient outcomes and may also because of commercial reasons.  

The trade-off with premium lenses is that because of the way they are designed (multiple rings), and the way light retracts, you will most likely experience night vision visual disturbances such as halos, starburst and glare.  

Some lenses will reduce ability to see at night and others also may reduce visual contrast.  

You will often only read positive reviews on promoters websites. Believe me there are plenty of negative outcomes too. But it is true most patients will obtain a satisfactory outcome. 

I got a bad outcome. I chose a Tecnis Synergy brand toric lens for both eyes and chose to get it done in Australia. 

A year later i am now due to see my ophthalmologist to discuss lens extraction surgery and replacement with an alternative lens.  My eyes just did not work with the lenses and had a year of blurry mid to far vision.  

The simpler the lens it seems the less complications. I chose the multifocal lens, wanting perfect vision at all focal points.  Nope. Didn't work. 

LISA trifocals are an older generation lens and a simpler design, but in hindsight probably my eyes would have adapted easier to, albeit not the best lens on the market for the best potential visual outcome. 

The benefit of Thailand is the price.  The downside is if there are complications, will you be covered? Is there a guarantee to correct vision if there is a problem? 

Most lens implant recipients will eventually get posterior capsule opacification (PCO) that is cell growth at the back of the lens in the posterior capsule.  YAG laser surgery is needed to clear it out and restore clear vision.  It does mean though if lens extraction is needed it complicates surgery as there's a gaping hole into your aqueous vitreous inside your eyeball and you don't want lenses falling into it hitting your retina.  I have this issue now after the ophthalmologist considered my poor vision due to the slight PCO. Nope. So now risky surgery ahead. 

If the replacement is considered too risky then they opt for an EDOF or a trifocal lens implant instead that can be anchored a different way.  Worst case is a monofocal lens and needing glasses forever.  LASIK surgery after lens implants is common to tweak focus because the diopter measurements of the lenses that are ordered for implants only come in 0.5 increments. So cannot always be exact. LASIK procedure can sometimes cause complications because when the cornea is cut by the laser it severs nerves which take years to grow back.  Sometimes severe pain from nerve regrowth issues occurring as well as dry eye.  Some stuff to consider anyway.  

I have gone through a difficult time and a year later almost still looking at a year probably before I hopefully get a desired or accepted outcome. 

If the bike rider was going too fast, yes that it a partial fault on the rider. But if a bike is bearing down a road too fast the onus is still on the driver to have awareness of speed and whether or not it is safe to turn.  If the rider has suddenly emerged from a bend for example though, then if the Mercedes driver had ensured the road was clear before commencing the legal turn, then the rider is at fault for speeding into and out of a blind corner without due care. 

Without seeing the layout of the road, it's not possible to determine completely who is at fault.  Probably both.  

Regardless, poor form to ignore an injured person over material damage to a car.  Wealthy with priorities over their material possessions. 

Hmm, "The victim, a contractor and well-known life coach on YouTube needed to keep large amounts of cash on hand for business transactions."

Who needs 'cash on hand' in such massive amounts (equates in my AUD currency to near $4 Million) to do business transactions? Cash only business transactions? Life coach Youtuber?  Contractor for what? 

Why hoard such massive amounts unsecured outside a financial institution/s. Sounds like there's many more questions than the explanation given by the victim. 

Bring a doctor's letter from your home country and make sure the medicine has the script label and/or copy of prescription.  

In Oz, I get them from my doctor (docs here are free at bulk billing centres) .  About $9 (AUD) or about 215 Baht for x50 tablets in Oz.  In Thailand the Diazepam tablets are around 15 to 20 Baht each at a doctor's clinic!!!  Hospitals likely a lot more, plus you have to pay a consultation fee to the doctor.  Just saying.  

The main business in casinos is washing dirty money.  The rest is just show offs and punters. Casinos are just handy money laundering facilities and make a ton of profits.  Governments get nice taxes.  Will attract the usual criminal entities.  Oh well.  Add it to the list.  

Thought the description was for one of the many large-sized Russian tourists that adorn the deck chairs of beaches in Thailand!

11 hours ago, fredwiggy said:

Do this somehow make her exempt from being a good wife? That would mean a virgin is a guarantee that you will marry a good woman? If you're above the age of a teenager's thinking, you should know by now that you never know how a marriage will work out because the only way it will happily for both, is that both are on the same page as far as their future together, agreeing on kids, finances, place to live, work, how to argue constructively and communication, which is what it's all about. People get married after a week, and stay together forever, and marry after dating 3 years, and divorce in a week. Only guarantees you have in life are that you'll die.

Very apt, wise advice.  The bit about being on the same page - how many of us do not align in attitudes, values and goals with our partners and then become embroiled in so many issues? 

On 1/11/2024 at 10:24 PM, NoDisplayName said:

 

So, let's say Person X has a baseline statement from Dec 31, 2023 with a balance of $1 million.

 

Does this mean Person X can transfer into Thailand any of this amount free of tax?  And for how long?  Can X bring in $100K each year for the next ten years tax free, by showing the 2023 base balance along with a sum total of all monies transferred in until exhausted?

And what about, if instead of having $1 Million as a baseline amount in a savings account in a bank,  in your foreign country with DTA, only since before 31 Dec 2023, you had $1 Million worth of investments instead?  And you are slowly liquidating those investments to remitt to Thailand for living and/or property purchase expenses?  Can we try to show that the liquidated portions of those investments remitted to Thailand are untaxable as they were derived before 31 Dec 2023?  

If I bought my property in Oz in 2017 and sell it in 2028, can I claim the base capital investment amount plus any estimated capital gains made up to 31 Dec 2023 are tax free if sale proceeds are remitted to Thailand?

And how would you prove a historical property estimate on a property without an official valuation certificate up to 31 Dec 2023?  Is this something I should have done?

SOLUTION TO AVOID/MITIGATE THIS BS:

Or, do we do this as the future way of living in Thailand: everytime we want to transfer a large sum of money into Thailand, we leave Thailand for over the 6 months in that year, take up residence and rent for that period in Cambodia, Phillipines, LAOS, Vietnam, etc so we are deemed non-residents (never know you may decide to not come back.  And will likely p*ss off a lot of couples and strain marriages and families from absent expats doing their 'time' elsewhere).

Then come back to Thailand and remit that money into a Thai bank account. Thailand loses out on my spending in Thailand for 6 months.  Bank doesn't make profit on my deposit money as it isn't in Thailand, until I probably remit it near my return, and I avoid the residence foreign remittance tax. 

The f***ed thing though is i don't generally want to transfer large sums into Thailand at once because interest rates here are virtually zero % in banks.  Totally pathetic. Making heaps more interest in my home country in investments and even bank account.  No incentive to bring large amounts into Thailand in one large amount for living expenses.  But these allegedly to be enforced residence based hefty taxes change the goal posts.  Lose-lose scenario just to keep living here. 

So, buying a condo.  Leave the damn country for over ½ the year, transfer the money when a non-resident and come back to buy it tax free.  Or pay up to 35% BS tax. Or better still -never buy a property in Thailand or any other big ticket item.  

On 3/30/2024 at 12:05 PM, JimTripper said:

 

Why risk it? Singapore banks are much more stable.

I heard there may be a potential loophole to exploit by remitting funds from abroad via Singapore Bank account  (maybe some complex structures in Singapore to set up first). 

On 3/26/2024 at 12:03 PM, TroubleandGrumpy said:

I can say this - your Super is taxed at 15% of the nett earnings if it is in 'accumulation phase' - the Super Fund pays the ATO direct on its total amount of earnings in all accounts in the accumulation phase . But there is no detail on taxes paid by each account holder - so proving that tax has been paid to TRD would be extremely difficult, if not impossible.  If or when you transition to 'retirement phase' and receive regular scheduled payments, your account earnings is tax free (but that money becomes taxable income for ATO and DHS purposes - not taxed but counted).  

MY POST CONCERNS THOSE WHO ARE AUSTRALIAN EXPATS - WHO ARE SELF FUNDED RETIREES AND/OR HAVE OR INTEND TO HAVE A PRIVATE (NON-GVT) PENSION FUNDED THROUGH AN EXISTING PRIVATE SUPERANNUATION FUND.  

Thanks mate.  I am in a unique situation transitioning funds into Super both Concessional contributions (which I pay additional 15% tax using a 'Notice of Intent to Claim a Deduction' on my tax return - seems separate to nett earnings tax?) and non-concessional contributions from external investments.  (To date - concessional contribution cap limits are $27,500 per financial year and non-concessional contributions are capped at $110,000 per financial year, with $330,000 allowed as an alternative as a 3-year bring forward contribution cap limit).  

You state that in the accumulation phase Super nett earnings gets taxed 15%.  Okay.  On both concessional and non-concessional contributions?

Maybe there is some sort of letter that is verified by the ATO that can be produced for international tax compliance purposes?  Sounds like it may be the case since there are other countries that already impose a non-resident tax too on foreigners incoming remittances and those expats require proof of tax? 

Here is where to me it gets extremely complex and uncertain: 

1) I was planning to liquidate an investment early next financial year (Oz) and make a large non-concessional contribution into my Superannuation fund, just after 1 July this year, using the '3-year bring forward rule.  It allows you to make three years worth of non-concessional contributions at the yearly maximum contribution cap limit.  This is in lieu of the usual yearly non-concessional contribution cap limit.  

I was then planning to almost immediately (same financial year) convert that contribution into a newly created 2nd pension account.  I have spoken to the Superannuation fund and they said this is fine - no waiting period, and will be provided the option to merge that new pension account with my existing Super fund pension account (save on doubling up on monthly admin fees). 

2) The issue I am now unsure of therefore, is that that newly deposited non-concessional contributions (x3 year's worth) will not have had time to be in an accumulation phase (?) as it will almost immediately be transferred into a new pension account before the next financial year.

The Super fund may impose a 15% tax on any possible small earnings made before transfer, but may not be in the fund long enough to have accumulated any nett earnings (wouldn't have happened to my other funds i moved from my Superannuation account into a current small Super pension, as I had that money invested in the Superannuation fund account for a few years beforehand, so would have been taxed over 2-3 financial years first).  Maybe I need to hold off converting a new contribution into a pension account for a year until it has been taxed over a financial year? But not sure the point:

3) Issue as well is that the Super fund already has funds I have added, that would have been taxed assessed (and will be taxed assessed this financial year) and therefore had 15% taken out-of nett earnings. 

My non-concessional contributions after 1 July will be added to that same account and merged with the same funds already taxed. 

4) Finally, in the pension fund, it is still accumulating (albeit at a lower % as I am drawing a pension from it), albeit what I believe is all untaxed.  So I am concerned that money in a pension fund that is accumulating from untaxed profits (since it moved to the pension fund), could be taxable by Thai revenue. 

5) Seems to me from my basic understanding, that you may be able to somehow argue that the money in the pension fund had been in a Super fund where it was taxed yearly on net income earnings at 15%.  But any nett earnings made on that amount since it was transferred over to a pension account is untaxed (currently averaging out over 10 years at around 8% p/a). 

Also issue is the deposit amounts put into Super as concessional and non-concessional contributions - they are not nett earnings from Super, and probably deemed savings and/or income derived from other taxed investments. 

So those contribution amounts transferred to the pension account haven't been taxed within Super accumulation phase.  Only the nett earnings have.  And we cannot backtrack all contribution amounts into Super over years (decades for most) to see where they all derived from and whether they were untaxed or taxed before being contributed into Super.  

How to 'un-muddy' those waters?  

To summarize: Basically, in Oz, private pensions, when remitting money to LOS, we are moving money into Thailand from an untaxed pension fund, that previously was taxed only on nett earnings during accumulation phase in the Superannuation fund beforehand.  The contributions into the Super fund that generated those earnings may have been untaxed (savings/base amount before interest earned on any investment, inheritance, compensation, etc) or taxed (income derived from external investments, taxed salaries, etc) prior to them being contributed into to the Super fund. 

I don't know if Thai Revenue cares about the sources of the Super fund contributions and if taxed over the decades before being put into a Super fund accumulation phase, only if the pensions accounts are or are not being taxed.  Seems they just may look at the pension itself and if it is/isn't taxed and not the history of the accumulation of funds beforehand? 

Something I obviously need clarification with from my accountant and the Super fund.  They may be able to clarify some tax info on the Australian end at best, but you'd need international tax expert advice who thoroughly understand Thai tax laws, as well as a lot of clarification from Thai revenue department. 

I have watched a public expat forum in Pattaya on YouTube where a tax expert guest attended and mentioned he did not believe Australian pensions would be taxed - according to his and his firm's interpretation of the legislation and DTAs.  But we get alternative interpretations since.  

I am still not feeling any more confident about this.  Keeping frugle and minimizing transfers still. And definitely holding off making any investments into Thailand. 

Thanks. 

Sounds like this Canadian man went wayward a long time ago with his relationship to alcohol and his inability to handle probable alcoholism disease.

Maintaining his visa status went out the window, then the longer someone delays, they know they are facing a decade ban, so keep putting your head under the pillow and hoping it will all go away. 

What will life be like for this man now in Canada? Doubt it will be a happy ending.

Looks like this man fell 'fowl' of a woman's wrath. And ended up being the c*ck fight.  

If this all gets implemented then it is truly and utterly f****d. 

Privately funded pension in Australia - do not get taxed in Oz.  I don't have a government pension. My assets exceed the threshold (I don't own a primary residence in Oz) to eventually be eligible for an old age pension too at 67 yrs (and Oz you need to go back for 2 years to be eligible).  

I have been slowly pushing my investments into my Superannuation fund over the years.  Contribution amounts allowed into the fund are capped yearly, so a slow process.  My goal was to maximize my allowable contribution balance limit into Super to generate a reasonably comfortable tax-free pension until I die and no more BS with tax and tax returns. 

All my investments have been from a lifetime of taxed income, taxed investments and profits, and a disability compensation lumpsum, supposedly to last me about 10-15 years of salary.   

Now, my strategy to enjoy my retirement years with a fuss-free pension now looks like my money put into it, will be yet again be subjected to tax - in Thailand.  WTF. I already paid a sh*t ton of taxes in Oz before this money has been/will be pushed into a pension fund.  

My property, I aim to sell in a few years. There will be expected capital gains.  My idea was to use the proceeds of the sale, with its gains, to eventually buy a nice condominium or a company titled house/villa somewhere in Thailand.  But, there is no F*****G way I am paying 35% tax in Thailand to buy a property over 5 M Baht.  Even if it was 10% tax.  That's an instant equivalent capital loss and a huge increase in what we pay as a foreigner compared to a Thai or a wealthy person possessing a LTR visa.  You would have to have rocks in your head to accept that sort of exorbitant tax to just buy a property!

I also thought maybe one day buying a nice car in Thailand off the proceeds of my sale.  Nope.  No F*****G way.  If I have to pay a stupidly excessive income tax on a vehicle purchase, then forget it.  Not worth it. 

Two things just there that instantly reduce quality of life expectations.

I'm hardly bringing any money into Thailand this year.  Why the hell risk it?  The cost of living here has just ramped up if this goes ahead. 

Yeah .... generous tax exemptions as a consolation.  What a joke.  Pensioners and other self funded retirees came here to escape high costs of living and relax after a life of paying taxes.

Even with DTA, it doesn't remove the history of taxes already paid on incomes and investments that have been pushed into retirement funds that pay tax-free pensions, if those pensions aren't exempt.  

What benefits would Thailand provide to a foreigner tax-paying resident?  I pay VAT, I pay taxes on road registration already.  I get fees deducted from the bank.  I spend all my remitted money when here.  

Phillipines I suppose.  Hoping they don't pull the same thing there. But so far doesn't seem the case.  

I'm sitting on my hands for now.  Not committing anything beyond essential living costs in Thailand.  See how this tax year pans out.  See if the Thai RD want to actively enforce this.  Spending a few months abroad too to reduce time in Thailand. 

99% of expats in Thailand will be doing just that - wait and see.  Not actively going to the RD and asking for a Tax ID number.  If RD want to rope every 179 + day expat in, they'll do it with visa renewals.  Simple.  

Or, RD will not want to cause an exodus and leave it as it has been for decades.

Being out of Thailand during the Thai tax lodgement period as well complicates things.  

1 hour ago, CANSIAM said:

A Russian neighbour 6 months ago ( conscription runner ) told me the "Russian community" here have an APP and all tune in and see where road checks are throughout the Island...... ain't that rich !!  don't see Russians on the list.. lol 

I am sure you'll find a similar checkpoint alert on an app somewhere for Phuket for English speaking foreigners too.  

Pattaya - there is a LINE app to alert checkpoints.  Probably one in every major city. 

On 3/14/2024 at 1:13 PM, Ralf001 said:

 

Prescribed drugs I buy at hospital pharmacy... Are paid for by my insurance.

Do you have insurance ?

I have insurance but not to pay for meds.  Covers for hospital in-patient.  Pre-existing conditions not covered.