ukrules

I've been searching for clarification on these tax rules and asked a few AIs where I have paid accounts for, the new Grok on X.com came up with this little gem

I'm not sure how accurate it is but this needs investigating as we approach what could be the largest bull run so far.

On 12/12/2023 at 9:30 PM, advancebooking said:

I think 15% is not so bad. It means your money is legit. You are paying your taxes in this country. Your tax records are all ok. Your money in your thai account is legal. no red flags. 15% is a no brainer. 

 

If you sell it on an exchange in your own country, for example, oz..... then use your Wise app to convert into thai and spend that way here, you will still have tax issues in your home country. And I think it will be a lot higher than 15%

 

Can you keep us updated bc it affects us all. I asked my accountant and she said dont report it blah blah. She is clueless I think 

I heard that the 15% capital gains tax is in addition to personal income tax which will be applied to whatever is left after paying the 15% capital gains tax.

It's an extra tax.

I know this is not the way capital gains tax works elsewhere in the world but this is what I heard.

I would like to consult an accountant who can provide me with absolutely 100% correct and current rules so that I can avoid paying any tax and I'm prepared to go to some lengths to do this as it's a large amount and it won't happen until 2025 at the earliest so I have plenty of time to plan a move out of the country to one or more other jurisdictions so I am not tax resident anywhere in either 2025 or 2026.

Messaging 'gateways' need configuring on your phone - they should have done this in the shop when you bought it.

Easiest way is to visit one of their shops and get them to put the settings in.

If you want to send photos via message there's a setting for that as well - no idea how it works but it is specific to each network. 100% on this by the way - if it's not done then it won't work either properly or at all but for me in the past it only affected MMS messages when changing provider.

3 hours ago, happydreamer said:

Yes.  Back home I'd need to be pulling in over a half mil to be taxed at the same rate

Half a million in what?

And here we go....

 

@Mike Lister I got a bank loan from a foreign bank and paid into a foreign bank account this week, I will wire the proceeds of this loan here to live off for some time - lets say until beyond the end of 2024.

Assessable  income or not?

Bear in mind that people often remortgage property which is merely a secured loan and use the proceeds to live off or purchase something else - like a second home.

I don't have a TIN and would like to avoid ever getting one, that's another longer story which involves leaving the country for 6 months during a year when I both 'earn' and submit a far larger sum of money.

This is normal.

Service the Aircons in March and make use of them.

7 hours ago, flyingtlger said:

Get Skype, it economical and good quality....

I use it every day, have done for many years

22 minutes ago, Drumbuie said:

In the absence of an official ID card, a driving licence is accepted photo ID in the UK for all kinds of purposes. 

Since a driving licence is very easy to obtain for very considerably less than £1500,  the only reason someone would  pay that much money is presumably criminal purposes. 

 

They pay for the change of name with proof, it's not about getting a driving license which requires proof of id 🙄

9 minutes ago, noobexpat said:

I guess when you get to 10m usd why bother investing!

Yes I guess, also he spent his life in finance, I think he'd had enough of it by the time he retired to tell the truth.

2 hours ago, noobexpat said:

 

100m baht by mid to late 50's. Thats my fat wallet.

20 years after that it should quadruple using about 7.3% pa.

Hence my time-value point above.

 

My 'retirement target' is a kind of moving thing, but a few years ago I reckoned I could pretty much do anything for the rest of my life on about $2m, but more would be welcome and 100-150m Baht seems very reasonable for a worry free life in a nice house or two with plenty of room for more investment income than most people dream about earning during their working life.

I'll do it as well. Settling for 7.3% pa is very conservative - there's plenty of room for a little more risk with some percentage of your funds - all depends on how you invest it of course.

I know a guy with about $10m and it's all in US treasuries 🙄

On 2/9/2024 at 5:05 PM, Pungdo said:

There are actually 5 variants now of Dengue Fever not 4, and as previously stated you only have immunity to the variations you've had, I've had it twice, the 2nd one wasn't anywhere near as bad as the first which was horrific, and I got a full understanding as to why it is referred to as Break Bone disease. 🥴

Interesting, did you undergo antibody testing for all variants?

On 2/9/2024 at 9:46 AM, mfinasi said:

If you had dengue twice some years ago is it worth getting the vaccine?

I heard it gets you hardest when you've had it before, even if you didn't realise that you've had it before - which is a thing.

4 hours ago, smedly said:

pay up or hold an election

Can't the parties just make a new coalition and form a new government.

If all the coalition partners support this scheme (and I don't belive they do) then they continue as they are.

The clocks ticking on this delicate coalition. What is it - 9 separate parties - it was doomed from the outset in my opinion - too many different parties.

2 hours ago, Yuri52 said:

So when I go on my bank app I saw k was -5000

-5000 - so you somehow became overdrawn - that's a negative balance right?

I know I got a letter issued along with my new passport which is somehow required to get the current entry AND extension stamp moved over to the new passport.

I'm not sure if that letter is only regarded as being valid for a certain amount of time.

But I will say - probably best to do the transfer sooner than later once you get the new passport as you never know what's going to happen at immigration when you go.....

4 hours ago, CygnusX1 said:

now planning no more than 177 days (a delayed or cancelled flight could put me over 180 days if I don’t allow a safety margin)

A wise decision, always allow room for the unexpected.

Too late to get a new passport now, they will almost certainly just issue the visa up until the expiration date of your passport.

So do this first, then get a new passport some time this year, move the appropriate stamps over to your new passport and your new extension date will change in 2025.

I had this issue with a Thailand Elite visa, in hindsight I really wish I had renewed my passport at the time even though it still had about 2.5 years left on it because it was a real pain for me to do it the lazy way.

Unless of course you live in a country which still produces passports and issues them in the local embassy.....

15 minutes ago, hellohello123 said:

Is it even possible to cough up litres of blood unless youve been stabbed ?

Apparently so.