ukrules

1 hour ago, Negita43 said:

Realised? = spent?

No, so when you sell something (anything) like shares, bonds, gold, Bitcoin, houses, etc - it's said that you 'realise' the profit / capital gain when you sell them assuming there's a gain.

 

Yes, you can make and transfer as much as you want during a non resident year but the money must also be also be 'realised' during a non resident year - often going to be the same year but perhaps not always.

This is the approach I'm taking but I'm going the extra mile and will be non resident for a few years going forward as I don't like their approach and will wait for the dust to truly settle on this whole thing before making additional decisions.

Now this next bit is just a hunch but you may open yourself up to potential audits if you send very large amounts of money in a non resident year and of course during an audit they can look back many years and I know a lot of us were likely remitting mingled funds over the last 10 years.

Of course if you remain non resident then you won't be needing a TIN assuming those you bank with will work without one.

10 minutes ago, SingAPorn said:

Put a Samsung Smart Tag well hidden in the car next time and you can trace and locate

How does that work? Do they have long range and permanent electricity requirements?

Would you need to charge the 'tag' every day or week or hard wire it into the vehicle and put a sim into it?

Even if you were looking for work and actively doing job interviews every time you came - there's nothing wrong with that as it would lead to the proper visa and work permit.

You got an <deleted> of an immigration officer who doesn't believe that anyone works legitimately in Thailand even though it doesn't apply to you and is most definitely not the case.

1 minute ago, chiang mai said:

Your visa extension will almost  certainly NOT be affected, next year, but who knows in the future.

It is interesting and they could link visa extensions to this if there was some massive inter departmental communications.

I doubt it will happen but who knows.

For myself I extended my Thailand Elite membership to the full 20 year package last year sometime and as such if I travel once per year I never have to do an extension at all, I just continue to get 1 year entries each time I arrive.
 

I will be in Thailand for a few days this month and I'll get a 1 year entry stamp even though I'm exiting a couple of days later, just a little business to take care of which will see me through until the end of the year.

5 minutes ago, spidermike007 said:

They have no desire or ability to objectively evaluate just how much we bring to the table as relatively affluent expats.

Exactly, and the truth of the matter is that there is no way for them to evaluate whom among us has a couple of million USD in investments and who has almost nothing to their name.

Perhaps that will change with CRS which provides end of year balances to bank accounts, does it apply to brokerage accounts? Who knows!

4 hours ago, JackGats said:

like his country of citizenship or the country where he was banking. It would be a civil lawsuit, not a criminal one.

Not if he comes from the UK and doesn't meet the 'Statutory Residence Test' - no chance of that.

If he's from a handful of other countries then yes, absolutely they could tax him, but he's not and was clearly well informed as that's how the UK system works, it's the only real advantage you have....while it lasts.

Some people still seem to believe that being tax resident is 'optional' in the UK - it's not. Non residence under this SRT is automatic and has been for over 10 years now.

11 minutes ago, Yumthai said:

There is no must, it all depends on your country(ies) of citizenship. For some/many countries being tax resident somewhere is not a requirement to become non tax resident. Need to dig in each country tax residence criteria. Agreed that being tax resident nowhere is not a long-term safe situation for not well-structured wealthy individuals.

Yes, in this case the 'Statutory Residence Test' applies - if you don't qualify for tax residency in the UK which can be advantageous in certain circumstances to some people I guess then there is no 'automatic residency' based on where you live outside the UK and you can't even simply choose to be resident in your country of citizenship (UK in this case) even if you want to because unless you go to the UK and put in the number of days required they won't accept you and that process is automatic.

I won't be surprised if this changes but it's been like this for quite some time now.

There are many rules but 15 days or less in the UK per year on average over the previous 3 years is the threshold at which you get 'booted out' of the system whether you want it or not - you're out.

36 minutes ago, Eudaimonia said:

 

Citizens of some countries can actually be tax resident nowhere. It is my understanding that the UK is one of those.

That is 100% correct for UK citizens of which I am one.

39 minutes ago, Phulublub said:

 

Indeed...and if Cambodia decides that, because you are not tax resident anywhere else, then you default to being tax resident there, they will tax you on your worldwide income.  Makes Thailand's proposals seem rather generous!

 

183 days is the cutoff in Cambodia, then there's the fact that there is no personal income tax filing system in Cambodia at the moment. They plan to introduce it but they're not there yet. It was delayed until the end of this year with no new announcements yet.

Then there's holidays to other countries to consider, a simple 5 to 10 day trip to Vietnam or some other nearby country any time during the year would leave you below the number of days threshold everywhere for the year in question.

It's not hard.
 

4 hours ago, proton said:

Have it in Tops Macgarret or something like that Australian

I've also seen these in a few other places over the years, can't remember where exactly but there was no Tops in Hua Hin until recently and I definitely bought some - Villa I think.

7 hours ago, watchcat said:

 

What's your life expectancy,

Doesn't matter, my point is - this 99 year lease which has been touted as a change to the regular 30 year leases doesn't appear to be for normal leases - it appears to only be for leases directly from the state to big business when leasing out government land.

Personally a 30 year lease is plenty for me as I'm in my 50's and I would likely purchase additional years in the coming 10 to 20 years anyway.

But you're not buying a holiday home with a 99 year lease issued directly from the government on government land - that's nonsense.

When this happens to me I never do it, in fact I won't bother even if it goes beyond the 7 days 'limit'

1 hour ago, Danderman123 said:

You have no idea how much I would have to pay in Thai capital gains tax.

 

I have Founder's shares in 2 aerospace companies.

Just make sure you're non resident in a year when you sell them and you're good to remit any time in the future.

Easier said than done but moving somewhere else for a mere 6 months in a given year to avoid a tax bill potentially in the millions of dollars is a no brainer, especially if you're paying no tax or far less tax in some other country.

Looks OK to me, I see the links to different topics have also moved back from the left of the page to the right of the page.

2 hours ago, 4myr said:

And there are certain remitted income that are not classified as assessable, e.g.:

1) savings before 1 Jan 2024
2) sold investments with a proven loss, so only the principal part of the investment is remitted
3) income that according to DTA is only taxable in the source country

4) Earnings / capital gains made in a year after 2023 when you were not tax resident and are remitted later or even during the year / years when you are non resident.
 

I'm still confused as to how this can happen, even if there is a short inside the transformer.

For example, my phone is made of plastic and has a glass screen - it's all non conductive, there is no metal at all on the outside of the phone.

I guess some of these phones are made from metal?

I did  a little digging on this - some phones use Steel, Aluminium and Titanium cases, especially Apple phones.

 

4 hours ago, madone said:

why would anyone in their right mind put together a scam that involves taking locals for less than 100 bucks? 

high exposure, low yield -- it's just stupid and makes zero sense.

I would assume that they are some of the dumbest humans alive.

1 hour ago, Artisi said:

Mother is giving the kids some new toys. 

Only China owns pandas, they lend them out with strings attached.