Mike Lister

Please read the following link, including the section on Inheritance. https://aseannow.com/topic/1319807-personal-income-tax-guide-for-foreigners-thailand/

There are several threads in the Australian home country forum that are specific to Australians, linked below is one such thread. Please do not post Australian specific issues here since they will not be well responded to and the thread is reserved for known fact rather than debate. Thanks. Note: non-relevant posts will be deleted periodically, in order to keep the thread readable for new commers. new commers.

I've just been reading the year end estimates by the global banks for the S&P and it makes for dismal reading. The consensus is that it will end around 5,200 which is just below its present level, JPM even forecast a fall to 4,700. It almost seems worthwhile to get out of US equities now, go into bonds and take a break for the rest of the year. https://www.reuters.com/markets/us/sp-500-end-2024-with-small-gain-after-strong-2023-2024-02-22/

Money required in the bank, in the case of a single person its 800k. But the notorious use of agents means people circumvent the rules and only have the money in their account for a very brief period. The consequence is that statements covering longer periods are now required to confirm the true existence of those funds. This year, for the first time ever, my marriage visa now requires my 400K is proven not just by producing a book showing a one year fixed deposit, but also requires a bank letter confirming those funds, AND a statement covering the whole year. How many checks on checks are really necessary and why. Well, the why part is easy, because they don't always believe what they are told, because people try to scam the system.

The problem is that once the rules are strengthened for one group they are strengthened for all groups.

Not necessarily, it depends on the source of the funds he intends to use, when they were earned and the wording of the CAN/THAI DTA. That said, the op does need to consider this point, given that the tax laws have changed this year. Perhaps reading the following guide will help him better understand.

Give over, next you'll be wanting same price admissions into national parks.

Maybe not smarter but certainly more knowledgeable on the subject!

Plus an FET from WISE seems doubtfully

The funds for your condo purchase must be received in Thailand by your bank in foreign currency, NOT in THB plus you will need a Foreign Exchange Transaction form from your Thai ban to prove the transfer to the Land Office. For me, that rules out using WISE and means you should do a SWIFT transfer which means you can make the entire transfer in one go.

I'm in favor of a clampdown on the scammers, I thought that was the message I had relayed. You said they don't affect the quality of your life, I think they do because they force you to provide increasing amounts of proof for the same things.

I think they do. Because there are guys who play the system, Immi is constantly coming up with new counter measures to prevent them and those things affect us. This year I had to produce the bank book containing my one year Fixed Deposit of 400k, a letter from the bank confirming it had been in there for the past however long and a bank statement as well. Those of us that are married to Thai's must produce four photographs of husband and wife in different rooms of the house, including one in front of the house showing the house number. In addition two officers come round and check that the house we live in matches the photographs, plus, some even interview the neighbours to see if we really live there. Immi does these things because others have scammed the system so I say, stop the scammers and life will be easier for the rest of us.

Nobody has mentioned one in the past, perhaps if anyone does know of one they can PM you rather than post the details publically.

Para 37 of the Simple Tax Guide has contained that statement for several months. 37) Capital losses may not be offset against capital gains.

Easy one first.....your last question......correct. Also easy....you wrote, "The money is already taxed abroad since it was dividends from a company that I co-own with other shareholders + salary I have saved up'. If those earnings are pre-31 December 2023, that money is free of Thai tax, only income earned after that date is assessable to Thai tax. More tricky.....I don't know enough about the practical application of Gift Tax here so I can't comment on whether your proposed approach is viable or not. Does it meet the definition of, "Maintenance income derived under a moral obligation or gifts made in a ceremony or on occasions in accordance with established custom"? I don't know, sorry! But if your lawyer says fine, that may be the right answer. However, I think if I was in your situation, I may want to spend a few hundred Baht on a consultation with a Thai Tax CPA to get their view since they will understand this aspect more clearly.

Hmmm, interesting, let's recap shall we? Read the tax guide - can't, too difficult See a tax consultant - no chance That leaves: Hide behind a bush - awaiting response Go back home - awaiting response Feign death - probably no point waiting for a response on this one. Have I missed anything?

They dont

Thanks Jim

There is a long thread about tax that was started way back when but it kept going round in circles and became far too long and convoluted to be understandable. It took a while to get control of the subject but I think that was finally achieved, although not to everyone's satisfaction! I think the debate has been structured since the start of the year and that people are now finally beginning to understand the issues.

Read the tax guide.

Perhaps if you were to focus more on the debate being discussed than on attacking me, the thread would do even better and all members would benefit!

Pay attention to assendents and descendents, your girlfriend is neither. Also, why Gift money that has already had tax paid on it, there is no need.

Please read the Simple Tax Guide linked below, the answer is in there.

1. No, not necessary 2. Immigration don't require this, don't try and second guess what might happen, cross that bridge when you come to it.

I don't know the answer to your question but this man may.... @JimGant I'm sure he'll be along soon.