Mike Lister

Does anyone really think that everyone could designate their inbound remittances as Gifts, just to avoid tax forever? As a theoretical paper based exercise, it may pass muster but not once it enters anything like reality. I know it was the weekend but still!! If that were the case, the tax take would fall rather than rise. I don't know how switched on the TRD is but I know they are not stupid.

Play nicely please, enough of the name calling

Thanks, but my questions were not about the advantages of 3 fund portfolio but the disadvantages of holding more. I currently hold 12 funds comprising 60% equities, 22% bonds and 18% money market and cash. Im 50% tracker and 50% global managed funds but rather than have a single global tracker I've gone for regional trackers. That means I can switch in and out of regions without having to rebalance the entire portfolio. Cases in point, the US has been good but EM is in the doldrums, India has been excellent but China is a dog. I'm starting to become very comfortable with things but I'm not quite there yet.

And nothing!

Why is a larger number of funds a bad thing?

Possibly, never thought about it.

GBP or hedged to GBP

I mostly agree.

The price doesn't seem that far out of line TBH, it's not a massive roof but the price of labour wouldn't increase proportionally if the roof was twice the size. I don't like the PU foam solution though, I don't rate PU foam as an insulator, unless it's very thick. A better solution might be spray on closed cell insulation.

I only wanted a snapshot. I figured 24 hours was enough and over a hundred people voted so that was enough. We'll do it again in a few months and let that one run longer.

I wouldn't get too excited about that penalty for not filing if I were you, I think you'd have to be extremely unlucky if it were levied.

The problem with using any index or global tracker is that the US market is at least 50% of any global index and tech occupies the lions share. Before, some other parts of the index would support any fall by one single part, but now, if tech falls, the entire index or tracker falls. That's the quandry.

I don't believe a Thai can effectively gift any type of property to a non-Thai, even inheritance of property requires the foreigner sell it within one year.

Some silly rabbit feels that these tax threads are patronising, but instead of suggesting ways to make them less so, leaves silly messages about it in unrelated threads. What can be said about this behaviour, if you have an issue, spit it out and say directly what it is and we'll try and fix it. Methinks the real issue might be that the subject matter confuses that member but he's too shy to say so publicly, as indeed many are the same. One answer is to do what many many others do and PM me and I'll try to help and I wont tell a soul, I promise. As for making the subject matter easier to understand for those not well versed in such things.......I'm trying hard to keep things simple, even if you think it's not. Despite best efforts, a one thousand piece jig saw still comprises one thousand pieces and we can't change that! If anyone has suggestions as to how the material can be made more understandable, please shout.

An update to Capital Gains: 49) One way to separate capital and gain may be to have an official valuation or statement that is dated 1 January 2024 (or earlier) since anything earned before that date, is not assessable. That is easier to do with investments but may not be possible with real estate. One usually reliable source has said that any gain begins the date the asset was first acquired and that it is not possible to reset the start date to January 2024. We can add with great certainty however that the date of your move to Thailand has no bearing on the valuation date of a capital asset. Also, if the profit has been the subject of a Capital Gains (CG) return in the home country, that also may be free of Thai tax because the gain would have been converted to savings, at that point. 50) We do not know at this time, exactly how the Thai Revenue will chose to distinguish between capital and gain, what is described above is only one approach. Another approach is apportionment, which is where every transfer from the combined capital and gain, contains a mix of capital and gain and this continues until the total amount is exhausted. Yet a third possibility is that the income is remitted first and that capital always follows. We are told by one of our sources of information that any remittance of a capital gain will contain both parts and that it is not possible to declare the remittance solely as one or the other. We will need to remain vigilant for news on this issue. 51) Lastly, It is clear from the Sherings Q&A link below that CG resulting from the sale of foreign assets, whilst not resident in Thailand, are free of Thai tax. As a stop gap measure and for planning purposes, selling the assets before moving to Thailand would appear tax efficient, as would remitting the proceeds whilst not Thai tax resident.

An update to Capital Gains: 49) One way to separate capital and gain may be to have an official valuation or statement that is dated 1 January 2024 (or earlier) since anything earned before that date, is not assessable. That is easier to do with investments but may not be possible with real estate. One usually reliable source has said that any gain begins the date the asset was first acquired and that it is not possible to reset the start date to January 2024. We can add with great certainty however that the date of your move to Thailand has no bearing on the valuation date of a capital asset. Also, if the profit has been the subject of a Capital Gains (CG) return in the home country, that also may be free of Thai tax because the gain would have been converted to savings, at that point. 50) We do not know at this time, exactly how the Thai Revenue will chose to distinguish between capital and gain, what is described above is only one approach. Another approach is apportionment, which is where every transfer from the combined capital and gain, contains a mix of capital and gain and this continues until the total amount is exhausted. Yet a third possibility is that the income is remitted first and that capital always follows. We are told by one of our sources of information that any remittance of a capital gain will contain both parts and that it is not possible to declare the remittance solely as one or the other. We will need to remain vigilant for news on this issue. 51) Lastly, It is clear from the Sherings Q&A link below that CG resulting from the sale of foreign assets, whilst not resident in Thailand, are free of Thai tax. As a stop gap measure and for planning purposes, selling the assets before moving to Thailand would appear tax efficient, as would remitting the proceeds whilst not Thai tax resident.

Take a look at Sriphat, Chiang Mai, the university hospital. Cataract surgery there starts at 35k per eye.

Idiot here! And what would you have done, just so that we can all learn from your wisdom?

Keep it civil please.

It quite possibly may have been delayed although I have not heard that. The last I heard was a few weeks ago and was not told anything had changed. I spoke with my UK accountant last week as part of my UK tax filing and double checked with her that I didn't have to file and she confirmed it was so. If the new law had been deferred, I would have expected her to tell me, but she didn't.

You do! As long as you exceed the UK threshold for twice yearly reporting of rental income, that law takes effect this year I understand.

How many times have you and I been through this now, five, six times at least since I first mentioned it and you repeatedly ridiculed me for filing a tax return when there was no need and there was no penalty, both points now proven to the contrary. Yes I have previously filed tax returns, yes I have previously paid Thai tax that was due, but because I am usually able to control my income flows and my liability to Thai tax, some years I have not had to pay but I have still filed. Now, can we please stop talking about me and my tax returns.

From the video further up the page: "From the same video (approx. 41:30 mark) it seems that if you're bringing property rental income across you need to file twice per year... " per member Mike Teavee. Thai tax residents are required to file an interim tax return, if more than 60k Baht in rental income is remitted during the first 6 months of the tax year.

I've updated the guide as follows: 58) Rental income from overseas property owned by foreigners who are tax resident in Thailand is not liable to Thai tax on that income, as long as that income is not remitted to Thailand. If however that rental income is remitted, an interim tax return PND 94, must be filed if the total remitted within the first six months of the year, exceeds 60,000 baht. “A half-year personal income tax return or PND. 94 is the income tax filing of an individual whose income from January to June exceeds 60,000 baht”.

I've updated the guide as follows: 58) Rental income from overseas property owned by foreigners who are tax resident in Thailand is not liable to Thai tax on that income, as long as that income is not remitted to Thailand. If however that rental income is remitted, an interim tax return PND 94, must be filed if the total remitted within the first six months of the year, exceeds 60,000 baht. “A half-year personal income tax return or PND. 94 is the income tax filing of an individual whose income from January to June exceeds 60,000 baht”.