Mike Lister

Yes, but you are still not a Thai Permanent Resident.

It's a terminology thing. Permanent Resident equates to being a Thai citizen or a naturalised citizen, everyone else is a visa holder.

What I wrote that you seem to have overlooked is this: "The only way you can become a Resident in Thailand is to become a naturalised Thai subject, foreigners here on long stay visa's are not Residents in that context". You do not have to be a permanent resident to own a condo in the foreign quota, if you were, it wouldn't be in the foreign quota, it would be in the Thai quota.

Not everything is about you or farang, what if, just what if, the focus of their concern is the 3,700,000 other foreigners who are not farang!

Listen to you guys, goodness me! The Dep Police Chief reminds Immi officers to do their job and suddenly, Thailand is anti-farang and only wants their money! Paranoia much!

Your lawyer is correct. The only way you can become a Resident in Thailand is to become a naturalised Thai subject, foreigners here on long stay visa's are not Residents in that context. Your willed ownership of the condo will depend on the quota's at the time. Assuming the condo was purchased from within the Thai quota (51%), the foreign owned quota at the time of her passing will determine whether the unit you are willed can be absorbed into that quota or not. If it can, you will not have to sell. If it cannot, you will have to sell.

I will add to Para 38, Dividend Income, to make more clear the taxation of domestic and overseas dividends. Dividend income from sources outside Thailand is taxed here at PIT rates using the stepped tax tables. Any overseas tax already paid will be credited and used as an offset against any Thai tax that is due. Conformation of this exists in the link following link: https://sherrings.com/dividend-income-personal-income-tax-thailand.html. Any dividends paid before 1 January 2024, is exempt.

Have you read the document in the OP, the very first post because that is your starting point for further question? The tax rates in Thailand are stepped or tiered, the first 150k is zero rated, the next 150k is taxed at 5% and so on up the scale. So when you say you will be taxed at 35% on 5 million, that is not correct, 35% is the top tier but it is not the effective tax rate. My comments below are subject to the terms of your country's DTA with Thailand, which I have not read and the contents of which, may effect the answer. Dividend income from sources outside Thailand is taxed in Thailand at Personal Income Tax rates, and any overseas tax already paid will be credited and used as an offset against tax due. Conformation of this exists in the link following link: https://sherrings.com/dividend-income-personal-income-tax-thailand.html. This means your answer number 2 is mostly correct except the effective tax rate would be lower than 35%-15%. Also, any income/dividends earned before 1 January 2024, is exempt. Capital Gains in Thailand is taxed at Personal Income Tax (PIT) rates which once again means stepped or tiered rates of tax. And once again, all income earned prior to 1 January 2024 is exempt from Thai tax. If you have an effective means of separating principal and interest, within any capital gains, the principal will be tax free but the interest will be taxable using PIT rates. Note: it is unclear at this moment whether the Thai RD will use apportionment when Capital Gains are remitted to Thailand, rather than using a separation of principle and interest but the latter seems safe under any circumstances.

This thread is not about any of those things, you are way off topic!

US Money Supply Growth went negative five times since the 1800's. On the first four occasions, 1870's, 1893, 1921, 1929, markets crashed and took years to recover, the losses were massive. The fifth occasion is right now.

The comments from some of you guys leave me absolutely speechless.

Reported

That has been known for many months, see Para 7 from the Simple Guide below: 7) Lastly, there are certain types of visa that fall outside of the RD tax code. The LTR visa for example is one of them, it received its tax exempt status by royal decree hence visa holders will not to be assessed for Thai tax, in accordance with the rules issued along with that visa and they are specifically excluded from this explanation.

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Ok thanks for that. You are correct, if you have no assessable income that is transferred to Thailand, you do not need to file a Thai tax return. Only income that is transferred to Thailand requires tax assessment, any income that remains outside of Thailand does not.

Your first step is to read the document in the OP, it is linked below for convenience, have you done that yet? Please confirm the above and then we''ll see what questions need answers.

Yes, yes and yes. That is not to say that the Thai RD wont introduce new rules later but as things stand currently, that's the way it appears. EDIT TO ADD: No need to translate copies of anything until asked, potentially never needed. Just make sure you know what is what.

OK, fair enough, we can leave it there. I will leave you with one thought however......if you are "totally uninformed", how can you be so certain that the Pound will never go down to 35 again? I mean, you clearly don't have evidence or a case to support your belief. This strikes me as a case of where "experts" believe it is possible and the rest think it's not.....hmmm, I wonder which group is more likely to be correct!

So excitable! There is a separate discussion on tax for Australians, it may help you to join that debate.

Don't confuse the legality issue with whether or not they could or would. The issue under debate is whether or not such income is assessable or not.

I don't think that is unearned income. But I do think that's tax evasion because the gift wasn't really a gift because she gave it back to you.

You can't stay a half a day, it's one or zero.

I wouldn't hold my breath if I were you, it's not likely they will ever make one because it provides too much guidance..

Goldmans previously increased their estimate for the S&P, up to 5,200 but have now said that 6,000 is possible on the back of mega caps growth. I find this troubling for several reasons, especially in an already froth filled market, some of the increases graphs are almost vertical and simply not sustainable. "Be fearful when others are greedy", is what he said, hmmm! One of my bellwethers is the amount of uninvested cash that is held by trusted fund managers, my favorite at JPM is down from 24% to 18% which is still remarkably high for an investment fund. Yet, as you say, the VIX is sat around its 30 year low, between 12 and 13. The rule of 20 says that the sum of the P/E ratio, plus inflation, should be equal to or less than 20, in order to represent fair value or better, anything more than 20 means it's over valued. The average P/E of my holdings is 14, let's hope inflation stays down! Lastly, if middle class spending power is in decline now, things are going to get a lot worse as soon as some brave politician raises taxes to pay deficits, borrowings and provide funding for future social security schemes......ouch!

The younger set have their inheritances and are less concerned about long term investing, they have plenty of money........today! And if the worst should happen, they'll simply buy an ETF or two. 🙂 Like you, I also am stood near the fire exit, although I did recently decide to remove my asbestos fire suit and I've returned some of the fire extinguishers to the rack.