CharlesHolzhauer

You could find the countries in the Wiki publications. I don't know if all retirees have requested a TIN but I have one. I heard about this long before the tax talk came up.

The countries signed up to CRS If you are a tax resident of a country other than [your home country], provide the tax identification number (TIN) or equivalent. A TIN is the number assigned by each country for the purposes of administering tax laws. If a TIN is not provided, list one of the three reasons specified (A, B or C) for not providing a TIN. In the case of Reason B, provide an explanation why the TIN could not be obtained. Reason A - The country of tax residency does not issue TINs to tax residents Reason B - The individual or entity has not been issued with a TIN Reason C - The country of tax residency does not require the TIN to be disclosed If the individual or the entity are a tax resident of more than one other country, list all relevant countries. You will receive annual inquiries from financial institutions until you either obtain a TIN or, in some cases, close your account.

You might consider investing in one of those SMART toilet seats made in Lesotho. Rumor has it that if they crack due to weight issues, they miraculously fix themselves after a healthy, weighty dump into the toilet bowl.

Frankly, I am quite dispirited by your assertion. After all and the best to my knowledge, you are engaged in a business endeavor up north. Maybe your comment might have been made humorously or without much thought. Obtaining a tax identification number (TIN) does not automatically mean that the holder is paying taxes. A TIN is simply a unique identifier assigned by a tax authority to individuals or entities for tax purposes. However, whether or not taxes are actually paid depends on various factors such as the individual or entity's income, deductions, exemptions, and compliance with tax laws and regulations. Simply having a TIN does not guarantee that taxes are being paid, as it is possible for someone to have a TIN but not have any taxable income or to be non-compliant with tax obligations.

I specifically stated an American Express Gold Charge Card, which is not a credit card! Readily available cash is necessary to utilize a card like the AMEX CHARGE gold card.

It's essential to focus on your personal situation and not be swayed by opinionated individuals citing hearsay on remitting procedures by other nationalities. If your investment products are placed in an Account Based Pension, you pay zero taxes, PERIOD. None of the Account Based Pension platform operators will remit pension payments to an overseas account; you'll need to arrange it yourself. Go to <https://aseannow.com/topic/1318120-revenue-department-contact-reports/#comment-18647010> and locate poster 'pauku1' and download his excell spreadsheet to compute your taxes if any - you might be pleasantly surprised.

Would BOI consider an American Express Gold Charge Card? I've held one since 1980 with an excellent payment history, always paying charges before the due date. I've been using the card to pay for all my private hospital bills, including comprehensive annual check-ups, medications, and bi-yearly follow-ups for the past 23 years which also includes a recent emergency operation for the removal of a burst appendix.

Pension payments from an Account-Based Pension are typically tax-free. Your platform operator will likely facilitate the transfer of your pension payments to a bank account of your choice, which can then be transferred to Thailand via a money/exchange transfer company such as Wise to your Thai bank account. Proactively providing your Thai Tax Identification Number (TIN) to your Australian-based bank is advisable. It is also advisable reading through the pertinent articles in the OZ/Thai Dual Tax Agreement (DTA) as the Thai Revenue Department may treat your income transferred to Thailand as assessable (taxable) income which is subject to taxation depending on the amount transferred. Source: https://aseannow.com/topic/1319807-personal-income-tax-guide-for-foreigners-thailand/ The Thai tax system contains a series of Tax Exemptions, Deductions and Allowances (TEDA) that will help you reduce your tax bill and they are very generous. It is easily possible for the average expat foreign retiree to reduce their taxable income by 500,000 baht or more each year. For example, a retiree aged 65 years of age, married and living here full time, supporting a Thai wife who has no income and doesn’t file tax return, is allowed the following: a) Personal Allowance for self (PA1) - 60,000 b) Personal Allowance for wife (PA2) - 60,000 c) Over age 65 years exemption (OAE) - 190,000 d) 50% of pension income received, up to 100k (PD) - 100,000 e) In addition, the first 150,000 of assessable income is zero rated and free of tax (ZR) Source:https://aseannow.com/topic/1323489-new-tax-laws/page/3/ The tax tables are here: 1. 0 to 150,000 THB is exempted from income tax. 2. 150,001 to 300,000 THB is subject to a 5% tax rate. 3. 300,001 to 500,000 THB is subject to a 10% tax rate. 4. 500,001 to 750,000 THB is subject to a 15% tax rate. 5. 750,001 to 1,000,000 THB is subject to a 20% tax rate. 6. 1,000,001 to 2,000,000 THB is subject to a 25% tax rate. 7. 2,000,001 to 5,000,000 THB is subject to a 30% tax rate. 8. 5,000,001 THB or more is subject to a 35% tax rate. Source: https://aseannow.com/topic/1323489-new-tax-laws/page/4/ Cheers and good luck.

Given your instructions to your tax accountant, which likely involve selling all your investments in Australia, paying CGT and repurchasing them as a non-resident, it's most probable that you won't require their services in the future. As previously mentioned, ensure thorough research is conducted. Additionally, unless your investments are held in an Account-Based Pension, you will not be eligible to receive franking credits for certain Australian domiciled investment products as a non-resident.

Before your tax accountant lodges the FINAL tax return for you, ensure that your bank and broker will continue to service your account when you become 'officially' a non-resident for tax purposes. If not, consider changing to institutions that offer services for non-residents. Make sure to thoroughly research and clearly and assertively communicate your needs to your tax accountant, as in the future, you may no longer require their services.

In your particular case, I would recommend consulting with a CPA, especially considering the unusual treatment by the ATO automatically categorizing you as a non-resident for tax purposes. Following the advice of my former tax accountant, I sold all my shares and investment products that I had purchased as a resident, filed a final tax return, and paid the required taxes. Subsequently, I repurchased most of my shares and investment products as a non-resident for tax purposes. As a non-resident for tax purposes, aside from withholding tax, which is automatically deducted, you won't be required to file an Australian tax return. This means you won't owe any taxes in Australia on dividends, capital gains, etc. I obtained a Thai Tax Identification Number (TIN) and provided it to the bank and broker I am dealing with in Australia without any issues. Depending on how your income is classified, you will need to pay taxes in Thailand accordingly. If you have decided not to return to Australia as a tax resident, you would probably be better off paying taxes in Thailand, IMHO.

An inexpensive EV pick-up truck would be probably welcome by some country folk. VinFast CEO Reveals 4 New EV Models for Thai Market in 2024 https://www.khaosodenglish.com/news/2024/03/28/vinfast-ceo-reveals-4-new-ev-models-for-thai-market-in-2024/ Vietnamese Automaker VinFast to Start Selling EVs in Thailand https://www.khaosodenglish.com/news/2024/03/27/vietnamese-automaker-vinfast-to-start-selling-evs-in-thailand/

Still very uncomfortably warm. Are you aware of any high-pressure refrigerated misting systems? (I experienced them during a vacation in Las Vegas on swimming pools and pool bars). Lazada don't seem t stock these systems.

Thanks, I may consider this option also.

Wouldn't the ambient temperature affect the cooling effect of the air coler?

We enjoy sitting on the deck overlooking the garden. However, during the very hot season, it becomes very uncomfortable sitting there as the fans are blowing hot air, similar to a hairdryer. I was considering purchasing a Hatari air cooler, but even if I place chilled water into the water tank, I suspect that the moderately cool air won't last very long. I'm also considering a portable air conditioning unit, but I don't have any experience with these machines. Since you seem to be knowledgeable about air cooling units, I was wondering if you think this would be a viable solution. In terms of electricity costs it maybe costly though as I still haven't started on my solar project.

Before making assumptions and potentially embarrassing you further, may I suggest that you take the time to read the context and understand how I arrived at this question.

Before making assumptions and potentially embarrassing you further, may I suggest that you take the time to read the context and understand how I arrived at this comment.

Sadly, none of the discussions therein are useful with regards to the subject matter.

Where is the separate discussion on tax for Australians located?

Maybe, just maybe we'll see the newly introduced tax guidelines changed or even canceled.

Who Is Really in Charge In Thailand? https://aseannow.com/topic/1321681-who-is-really-in-charge-in-thailand/#comment-18744878 Interesting article by webfact. I'm beginning to wonder if the new guidelines, which will tax all income from abroad as personal income tax, whether it's earned income or savings, will be postponed, rewritten, or canceled. A couple of members here have already hinted that this is a possibility.

In the context of transferring or gifting an amount, say THB 3 million, from overseas to a spouse's bank account, should the transferee/giftee complete a tax return for amounts below the THB 20 million threshold, or wait for the RD to take action and provide documented proof that the gift is indeed a gift?

Interesting article... https://www.nytimes.com/2024/02/20/business/vw-electric-vehicles-us.html 'Volkswagen is building a $5 billion factory in Ontario to supply batteries to its factories in Chattanooga, Tenn., and Puebla, Mexico, which together will produce at least 80 percent of the company’s cars sold in North America.'

https://franklegaltax.com/about/