oldcpu

It should be easy to get a Thai TIN. Don't do what i did (where i let my Thai wife handle all the discussions with the Revenue Department). I needed a Thai TIN as (1) all the talk about Thai taxing expats had me a bit concerned and (2) I needed the Thai TIN to unfreeze a Canadian trading account and also to open a new Canadian trading account. My Thai wife disagreed. Her view was i did not need a Thai tax ID. ... but she failed to understand the issues I had with Canada with my Canadian trading accounts. So she eventually applied on line for a Thai tax ID for me. That application on line went to Bangkok, and they forwarded it to Phuket. The Phuket RD official phoned my wife (as she put her phone# and not my # on the TIN application form) and asked her, why did i need a Tax ID? How did I pay for my expenses in Thailand and was I bringing any money into Thailand? My wife answered I brought a bunch of money into Thailand when i was a non-tax resident to Thailand, and I have been living off such ever since. And I was bringing no money into Thailand. So the RD official noted if i was bringing no money into Thailand, i did NOT have to file a tax ID and he would not issue one. Further my wife (possibly to prove to me I did not need a Thai tax ID) asked the Phuket RD official, was not my yellow-book/pink-ID number a tax ID? The RD official replied, yes, my yellow-book/pink-ID # could be my tax ID #, if he activated it to be such. However since i was bringing no money into Thailand, he saw no need to activate it. And that was 'end of story' (almost) and I only found out later about the discussion with the RD official and my wife. But ... but ... i still had an issue with Canada. What I ended up doing was giving the Canadian financial institutions my yellow-boot/Pink-ID #, with a written/signed caveat that this would be my Thai tax ID after being activated, but that it was not yet active. The Canadian financial institutions accepted that. My frozen account was unfrozen, and I was able to open a new account with a different financial institution, using that approach. i am currently on an LTR visa, and given that, and also given POR.161/162 (no tax on pre-1-Jan-2024 savings brought to Thailand) I may never need to file a Thai tax return. The interest I obtain from Thai banks is very close to the threshold for filing a Thai tax return, however it all has 15% tax withheld by the banks. And according to Thai tax law, (I can post my research on this if requested) if the 15% withholding tax is applied, that basically removes that income from being assessed as part of one's assessable income for deciding if a Thai tax return is needed. Having typed all the above, please take note of JackGat's approach above. That is the way to go about this. Do NOT let my wife handle it. Lol !

I live in Phuket and used to visit Phuket immigration for my regular permission to stay details/extensions/reports. When I was on a type-OA and later a type-O visa, I don't ever recall having an issue obtaining a re-entry permit with Phuket Immigration. Typically I would apply for it on the same day in which I applied for the 1-year extension, or apply for it on the same day in which I picked up an approved 1 year extension. Getting the re-entry permit was pretty painless. I also recall when I deliberately left Phuket without a re-entry permit (so to invalidate my type-OA as I wanted to switch to a type-O), the Phuket airport IO when I was leaving noted to me that I did not have a re-entry permit for my type-OA and asked, was it my intent to invalidate my visa? I explained my plan (to switch from OA to O ) and he just nodded. I suspect he had seen such before. Having typed the above experience with re-entry permits and extension renewals, I always had a fairly recent TM30 screen print with me when I visited Phuket immigration office. Each time I returned to my condo (which I own) from being 'out of province' my Thai wife would quickly fill in the online TM-30 form (and give me a screen print of the entry) - which, given she did the work, made it painless for me. Even now, being on an LTR visa, my wife continues filling in a TM30 for me when I return to our condo from being out of province. Speaking of the LTR visa, I still wake up on the odd occasion thinking ... did I miss my 90-day report? and when do I need to do the 90-day report next? ... and then I fully wake up and remember, I am on a LTR visa, no 90-day report required ! 😄 lol !

I spent a lot of time looking at the Canada-Thailand DTA and also at Canada tax law to understand my Canadian tax obligations. In this post I am trying to summarize some of what I learned and believe in regards to some of the Canadian tax obligations to Canadians who are tax residents of Thailand - and MOST IMPORTANTLY (in the capital gains case) who have not been a Canadian tax resident for over 6 years. I am looking at this from a Thailand LTR-WP Visa holder (Thailand tax resident) perspective where foreign (non-Thailand) income is not taxable in Thailand for such Thailand visa holders. I have also written this from the perspective of a Canadian who is not filing a Canadian tax a return under section 217 of the Canadian tax return but who is still filing a Canadian tax return as a non-resident to Canada (due to having significant Canadian income). In terms of different Canadian Income sources and Canadian tax obligations for a non-Canadian resident ( > 6 years) who is resident in Thailand (and not filing a Canadian tax a return under section 217 of the Canadian tax return) I note the following: . Canadian Pensions (CPP, OAS, RRSP/RRIF income, other Canadian pensions). If a 25% withholding tax is applied in Canada, before the income is provided to one's bank account, I suspect that might be the maxiumum those pensions can be taxed by Canada (note OAS is a bit of an exception as OAS can be 'clawed' back). References for this on pensions are Article 18(1) of the Canada–Thailand Double Tax Agreement (DTA) (1989) which grants Canada the exclusive right to tax pensions, and Subsection 212(1)(q) of the Canadian Income Tax Act which imposes non-resident withholding tax on these payments at a rate of 25% - where I believe that this represents the final Canadian tax obligation on these payments (if one is not filing a Canadian tax return under Canada tax section-217). Accordingly thou to ensure one is not taxed at an inappropriately high rate, the Canadian tax form needs to be VERY carefully filled in to reflect this. . Canadian Interest (from Banks). Canadian bank interest income is not subject to Canadian tax under Part XIII of the Canadian Income Tax Act (which governs withholding tax for non-residents), provided the recipient is a non-resident of Canada and provided the interest is paid from an arm’s-length Canadian payer. Under ITA subsection 212(1)(b) and Regulation 805(1)(c), most interest income paid to non-residents of Canada is exempt from Canadian withholding tax unless it is from a business carried on in Canada or is a “participating debt obligation.” Again, to ensure one is not taxed at an inappropriately high rate, the Canadian tax form needs to be VERY carefully filled in to reflect this. . Dividend Income from Stocks and ETFs ... My understanding is article 21(1) of the Canada–Thailand Double Tax Agreement (DTA) limits Canadian withholding tax on dividends to 15%. Subsection 212(1)(b) of the Income Tax Act governs the imposition of non-resident withholding tax on such dividends. Since the withholding tax has been applied at the Thailand-Canada DTA treaty rate, I believe that should constitute the final Canadian tax obligation on these payments. Again, to ensure one is not taxed at an inappropriately high rate, the Canadian tax form needs to be VERY carefully filled in to reflect this. . Capital Gains (on stocks/ETFs). My understanding is Article 13(5) of the Canada–Thailand Double Tax Agreement (DTA) grants Thailand exclusive taxing rights over capital gains — except for those related to immovable property or specific corporate interests. In general this applies to most (not all) Canadian securities (publicly traded stocks and ETFs) and they fall under this not taxable in Canada category. I believe this is consistent with Section 2(3) of the Canadian Income Tax Act and in accordance with the Canada-Thailand DTA. Again, to ensure one is not taxed at an inappropriately high rate, the Canadian tax form needs to be VERY carefully filled in to reflect this. I am NOT a tax advisor. I may not (yet) have this 100% correct. So take the above with lots of salt. I hope to apply the above when in April-2026 I file my year 2025 Canadian tax return. Assuming I do, then I will learn then Revenue Canada's interpretation. I do plan to list ALL the income in my Canadian tax return, but then if already taxed via a withholding tax I will look for an appropriate place on the Canadian tax form to deduct it (likely line 25600 - but ONLY with an accompanying letter providing the justification, where in that letter points to specific clauses in the Canada-Thailand DTA and also to clauses in the Canada Income Tax Act).

Nonsense. Pure nonsense. Perhaps intended as humour? https://www.gov.uk/government/publications/thailand-tax-treaties

Referencing the Canada-Thai DTA: Article 13(4)(a) applies only to shares deriving >50% of their value from Canadian immovable property (e.g., real estate corporations). Most stocks sold do not meet this criteria, so Article 13(4)(a) does not apply. Article 13(5) states: "Gains from the alienation of any property, other than that referred to in paragraphs 1, 2, 3, and 4 above, shall be taxable only in the Contracting State of which the alienator is a resident." So if stocks are not covered by 13(4)(a), then Article 13(5) in the Canada-Thai DTA assigns taxation exclusively to Thailand (if that is one's country of tax residence) for Capital Gains. Hence these recent possibilities re: Thailand taxation on foreign income for those with Canadian capital gains from stocks held by Canadian financial institutions/brokerages could be very relevant to some long-in-the-tooth Thailand tax residents from Canada. This capital gains aspects in the Canada-Thai DTA also is true, for some LTR visa holder's (from Canada with Canadian capital gains on stocks) who are exempt Thailand tax on foreign investments . i should qualify this by also noting the Thai-Canada DTA has a clause (article XIII(6)) that Canada can still tax capital gains (earned on Canadian investments via Canadian brokerage) if one was a Canadian tax resident at any time in the preceding 6 years. This Canada-Thai DTA, I believe, is to stop people rushing to Thailand and selling their stocks in Canada, thinking it will be tax free. In fact nominally, when one departs Canada (to become a non-tax resident to Canada) one is supposed to make a 'on paper' disposition of the value of their stocks, where presumably if that amount is in profit from the original purchase price of the stock, then that portion of any profit is taxable by Canada. Honestly? for me? This gets very complicated, where 'one shoe' does not fit all in regards to Double Tax Agreements.

No. One pays tax on Canadian pensions at the Canadian determined tax rate, which could be much higher than 25%. I am referring to interest from Canadian banks or Dividends from stocks. I believe that has a maximum 20% (which I plan to put to the test in the 2025 tax year).

In general yes, but not for all cases. There is the LTR visa. Yes and no. If the DTA states only the foreign source country (say Canada for example) can tax one's Canadian pension (or similar retirement remunerations) then not only can Thailand not tax that income, but it is not considered assessable for the Thai tax calculation. Which means it is not taken into account in assessing if the threshold is met for filing a Thai tax return. Yes and no (mostly yes). If one has other assessable Thai income and if one then reaches the threshold for filing a Thai tax return, then a tax return has to be filed. One does thou have to reach that threshold of sufficient assessable income. My adding the word 'assessable' is VERY important, and I know, it really annoys some on this forum, but that distinction between Thai income that may be assessable and Thai income that may not be assessable is important. Case in point, interest income from VERY LARGE deposits in a Thai bank. If one agrees for the bank to apply a 15% Thailand withholding tax on that income, then nominally all tax obligations in regards to that income is met and such interest income is not included in the calculation to assess if one meets the threshold to file a Thai tax return. I spent a lot of time digging through Thai tax law to come to that assessment, and i am happy to to share specific references to Thai tax law paragraphs, in what I ascertained (in regards to interest income in Thailand after a 15% withholding tax is applied). That a pretty big IF. Canada does that, but Thailand is a remitted taxation system and currently Thailand does NOT. That would entail a Thailand shift close to a global taxation system. Yes that might happen, but also it might not. I feel for you. I am a Thailand tax resident. Canada taxes my Canadian Old Age Security, my Canadian Pension Plan Income, and about to tax my Registered Retirement Income Fund (RRIF) income. However as someone who has been a tax resident of Thailand greater than 6 years (?? unsure off top of my head if it is 5 or 6 years) then there are restriction as to how much Canada can tax Canadian interest income - no matter what one's Canadian tax rate. The maximum is 20% that Canada can tax interest per the Thailand-Canada Double tax agreement. When filling in the Canadian T1 form (and appropriate schedule) there are, i believe, places to list the income, and then deduct the appropriate amount in a specific location, such that the maximum taxation on interest does not exceed 20%. ... I plan to put this 'to the test' when i file my 2025 Canadian tax return. Also when it comes to Canadian Capital Gains, I believe according to the Canada-Thai double tax agreement, only the country which one is a resident can tax the capital gains (with some exceptions), where in the case of stocks sold in a Canadian brokerage, only Thailand can tax such. ( ie ... Article 13, Paragraph 5 of the "Convention Between Canada and the Kingdom of Thailand for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income" (the Canada-Thailand Double Taxation Agreement or DTA), ). Again, i have not yet put that to the test, but likely i will in tax year 2025 (when I file my Canadian tax return in 2026). Again, the Canadian sourced capital gains from stocks is calculated and then deducted in a specific place in the tax form. Agreed. However these Double Tax Agreements can be very difficult to dig through, pull out the meaning, and then find out where in one's tax form the appropriate entries are added and more importantly, deducted. Further, if deducting, an explanation likely needs to be provided (in the case of Canada) pointing to specific clauses in the Double Tax agreement. i guess my point, using Canada as an example, is this is rather complex, and when it comes to DTAs, one 'shoe does not fit all' (to coin an expression). I am not a tax advisor. I have dug into Canadian and Thai (and to a lessor extent German) Double Tax agreements for my own purposes. i recommend others, like you suggest very carefully examine what the DTAs state, as one could be missing out on some tax breaks if one does not, and further one could be inappropriately not paying taxes when one should. it can, depending on one's income sources, become very complex. .

On the topic of obtaining interest on one's money in a Thai bank, a key consideration is what does this mean in regards to Thailand taxation. I had a couple of expatriates living in Thailand (who I believe are Thailand tax residents) mention to me on this forum, that if an expat has money in a Thailand bank earning interest, and if the bank deducts 15% withholding tax off of that interest, then the remaining income need not be considered assessable income for the purpose of assessing if an income tax return is required, nor in the case where an income tax return is still required for other purposes, need that interest income be included in that tax return. Now if the foreigner wants it be be considered assessable income, it can be considered such, but it need not be considered such. I researched the Thailand tax law, and this is my interpretation from the tax law ( i.e. these words are not a quote from tax law, they are my interpretation). ... Note, I am not a tax advisor. I dug into the tax law out of my own curiousity to attempt to verify what other's mentioned on this forum. For those reading of this for the first time, I recommend you should conduct your own verification, and not rely on my interpretation being correct. Again, this is not tax advice and I am not a tax advisor. It is my interpretation in regards to interest from a Thailand bank, researched for my own use.

Thats what I did.

A bit more detail on this. I transferred Euros-to-Euros from one Thai bank to another Thai bank (as did my wife). Transfers we tried were: a. Bangkok Bank to SCB bank FCD - % fee was 0.60% b. Krungsri Bank to SCB bank FCD - % fee was 0.56% c. UOB Bank to SCB bank FCD - % fee was only 0.16% << however i am skeptical - this was a transaction by my wife, and I think my wife may have omitted telling me of a fee? So its not cheap to do a swift to swift Euro transfer from one Thai bank to another. Obviously thou, it is cheaper than converting Euro to Thai baht and then converting back to Euro. However if one is moving their Euros out of a Thai bank with 0% interest on the euro, to a Thai bank fixed account with 3.25% interest on the euro, despite a 0.6% fee, it clearly worth while to do the transfer (assuming the 3.25% is not some 3 month promotion). A qualification - I am not advocating keeping euro in Thailand banks. Everyone needs to make up their own mind up here. I moved some to Thailand when a non-tax-resident to Thailand some years back (so to avoid any potential tax implications of taxation when a Thai tax resident (in the future), and also possibly to purchase a condo unit (which did not happen)). Currently I live off these Euros (and some other funds in Thailand), watching what happens in the actual implementation of the Thai tax interpretations for remitting income to Thailand. Once what we see in practice what transpires for any Thai taxation of remitted funds (ie after all the dust settings from por.161/por.162 and any new regulations) I may or may not bring more into Thailand. Clearly the source of the funds, relevant DTAs, and one's Visa (such as an LTR-WP) play a factor here as well.

I should qualify this by saying Bangkok Bank used to give interest on FCD USD accounts, but I don't believe they do any more.

Thats new to me. I have a Bangkok Bank FCD USD account and it pays 0% interest. ... but perhaps it is not a fixed USD account. My Bangkok Bank US$ account does have a bankbook but again - its not a fixed account. I have recently transferred the majority of my Euros from Bangkok Bank to SCB Bank, as SCB pay 3.25% (at present time) on a fixed account. They provide a bank bank for the Euro account. In contrast Krungsri bank do not provide bankbooks for foreign currency FCD accounts. I have an LTR vsa so I don't bother with proving the 800k THB requirement is met. If you do have to prove the 800k THB is met via a foreign currency equivalent, ensure you have a large amount over the 800k THB, to avoid a sudden drop in Euros or a drop in US$ or a sudden strengthening of the Thai baht, not resulting in you being below the 800k THB amount. There is always a risk when dealing with foreign currencies that one needs to track if the currency is used for something important.

Yes - SCB is currently providing better interest than what one nominally can get in Thailand on Euros and US$. In the case of Euros, my wife heard from a friend at SCB, that the bank has a lot of money in Euros in a European institution, with the bank getting an even higher interest rate than the 3.25% which is why SCB bank can pay that lower 3.25% rate to their customers. I heard that 3rd (or maybe even 4th) hand, so take it with lots of grains of salt. My wife succeeded in her transfer so I did the same next. I succeeded in transferring 30k euro from Bangkok Bank Foreign currency account to a SCB Foreign currency account via Swift, i did not have to convert to Thai baht. The transaction fee for the transfer was a bit steep at 180.86 euros. That sounds like a lot, but after one year that 30k euros at 3.25% interest will give 975-euros interest. Then consider tax so subtract 15% Thai with holding tax and that leaves about 828 euros which more than pays for the 180.86 euros to transfer. ... i recently crawled thru Thai tax law and confirmed for my own satisfaction that if 15% withholding tax is applied on one's money in a Thai bank, then that need not be included in a Thai tax form. ...ie the paid (to the government via the bank) withholding tax removes the liability to include that interest as income on one's tax form. As for 3.25% ... Ok ... I concede 3.25% is not great (compared to elsewhere in the world), but it is better than 0% at Bangkok Bank and 0% at Krungsri Bank. I am in the process of transferring more from a Krungsri Foreign currency account to this same SCB Foreign currency account, also via Swift. These transfers take 3 to 5 days (they are VERY SLOW compared to Thai-Baht to Thai baht transfers). I also note that it is not only the 3.25% interest the reason for my consolidating the funds into SCB. My intent is to have SCB as my account for LTR visa self health insurance, and not Krungsri Bank. I need to contact BoI and see if they will accept the switch in accounts for the self health insurance switch.

Prior to my deciding to apply for the LTR visa, I went to the local Phuket immigration office and applied for (and obtained) a one year extension on my Type-O non-immigrant visa (for reason of retirement) permission to stay in Thailand. With a few weeks of obtaining that one year extension, I sent my application for the LTR-WP visa. My logic was it gave me 11+ months to sort out any questions or information requests BoI might have, and it basically took the pressure off in trying to obtain the LTR visa before ones permission to stay in Thailand ran out.

On the topic of international insurance ... my understanding is at least 2 (likely more) of the forum members succeeded to get BoI to accept their European health insurance (which they already had). All they needed to do was get their health insurance company to type up a letter with some key words in the text and send that to them, which they then forwarded to BoI. Possibly words in the European Insurance like: Possibly some more/additional words will also be needed in regards to coverage aspects < unsure > I went the $100k US$ equivalent in the bank for my LTR back in 2023, but in 2028 I plan to try and switch to my European Cigna insurance (if I can get Cigna to write such a letter). If i succeed that will free up the $100K US$. I may liaise with BoI prior to find exact wording they wish to see in such a health insurance letter.

6% is good, but I suspect many might only be looking at 5% or less in terms of what they can get for interest. What sort of health insurance can one get for $6k/year? Even with higher global interest rates, relying on that interest to pay for health insurance may not be reliable strategy for some applicants - dependent on their age. While some countries offer exceptionally high interest rates, they are often tied to volatile currencies or require deposits in foreign banks, which may be difficult for a non-resident to open and keep open given some banks do not like non-residents having an account with their banks. For stable currencies like the USD, a high-yield savings account or fixed-term deposit in a reputable international bank might offer a rate of around 4-5%.. At a 5% rate, a $100,000 deposit would generate $5,000 in interest per year. This amount could cover a basic health insurance policy for a younger, healthy individual. However, for older applicants, or those with pre-existing conditions, premiums can easily exceed this amount, rendering the interest insufficient. So I recommend caution and some good research here to the OP. Best wishes in what ever approach the OP chooses.

Further to the Canada-Thailand Double Tax agreement, here are some outputs of my research into this in regards to dividends from a Canadian company via a Canadian brokerage, received by a Canadian expatriate in Thailand, who is a Thailand tax resident and who is not a Canadian tax resident. Please note, I am not a tax advisor. Take this with a 'grain of salt' and apply your own interpretation. This is from my own notes to support my own private assessment. = = = Canadian Dividends for Canadian Expats in Thailand – My Personal Interpretation of Canadian taxation aspects in considering the Canadian-Thailand Double Tax Agreement (DTA) For Canadian expatriates living in Thailand who are tax residents of Thailand but no longer Canadian tax residents, and who still have a Canadian brokerage account paying dividends (stocks, ETFs, mutual funds), here is my interpretation of the Canada-Thailand Double Tax Agreement (DTA) regarding how those dividends are treated for Canadian tax purposes. Withholding Tax – 15% Under the Tax Treaty Under Article 10(2) of the Canada–Thailand Tax Treaty: Canadian dividends paid to a Thai tax resident (who is the beneficial owner) are subject to a maximum 15% Canadian withholding tax. A Canadian brokerage should generally withhold this 15% automatically — so in most cases, a Canadian expatriate in Thailand require no further Canadian tax filing unless they are filing a Canadian tax return for other reasons (e.g., receiving OAS, CPP, RRSP/RRIF payments). If Also Filing a Canadian T1 Return (e.g., for OAS, CPP, RRSP/RRIF) If a Canadian expatriate in Thailand (not a Canadian tax resident) is required to file a Canadian tax return for other reasons, (for example, because they are receiving Canadian pension income) then here are two approaches I believe could be adopted when filing where both require Schedule-A to be completed: Schedule A – Statement of World Income If filing a Canadian tax return, one must report all worldwide income, including Canadian dividends, on Schedule A. The CRA uses this worldwide income to calculate the appropriate tax rates on the person's Canadian income. Hence, Schedule A must include Canadian dividend income, even though it’s already been taxed at source. Canadian T1 Main Tax Form - Two different approaches to consider: as noted I believe there are two possible approaches ... Approach One – Do not include dividends on Lines 12000 / 12010 / 12100 (Dividend Income) of Canadian Tax Return T1 form I believe it is may not be strictly necessary to enter Canadian dividends on these lines if they’ve already been taxed and are reported on Schedule A. However I also believe in such cases, it is best to attach a note stating: “Dividend income has been reported and taxed at the maximum 15% in accordance with Article 10(2) of the Canada–Thailand Tax Treaty, and thus has not been included on this T1 tax form. This taxpayer is a resident of Thailand and the beneficial owner of the income.” Approach Two – Include dividends on Lines 12000 / 12010 / 12100 of Canadian Tax Return T1 form If one includes dividends on one of the noted income lines, I believe one should also claim a matching deduction on Line 25600 (Additional Deductions), citing Article 10(2) of the Canada–Thailand DTA. This reflects that the income is treaty-exempt beyond the 15% withholding already applied. In this case, one might attach a note stating: “Dividend income has already been taxed at the maximum 15% withholding in accordance with Article 10(2) of the Canada–Thailand Tax Treaty. This taxpayer is a resident of Thailand and the beneficial owner of the income.” Why attach an explanation note or letter? Adding a brief note or letter may help clarify one's treaty position for the CRA. This may reduce the likelihood of inquiries, especially since the CRA likely received a NR4 or T5 or T5008 slip from one's financial institution reporting the dividends. ... and again, I am not a tax advisor. I did this research for mine OWN benefit, and I am simply sharing this. If you are looking for tax advice, you may be best going to a professional tax advisor.

I have been continuing me examination of the Canada-Thailand Double Tax Agreement (DTA) trying to understand some of the 'ins-and-outs' in regards to a Canadian expatriate living full time in Thailand. For Canadian expatriates, who are living in Thailand, and who are Thailand tax residents, and who are not Canada tax residents, but for whom there may be a requirement or consideration to file a Canadian income tax return, I note the following is from my research. Please note that I am not a tax advisor, so take this with a grain of salt and apply your own judgement here, as I could be wrong: = = = Canadian Tax Filing for Non-Resident Canadians in Thailand in regards to Canadian derived Capital Gains A Canadian expatriate living in Thailand who is a tax resident of Thailand and not a tax resident of Canada, but who maintains a Canadian brokerage account, may still be required to file a Canadian tax return. This typically occurs when they receive Canadian-source income, such as Old Age Security (OAS), Canada Pension Plan (CPP) payments, or RRSP/RRIF withdrawals. Although Canada does not tax a non-resident’s global income, if a Canadian tax return (T1) is required, the CRA typically asks that Schedule A (Information About Your World Income) be completed. This allows CRA to determine the correct tax rate to apply on the Canadian-source income being reported). Capital Gains from a Canadian Brokerage Account For a Canadian, even as a non-resident to Canada, Canadian brokerages are required to issue a T5008 slip to the CRA when securities are sold. However, for Canadian individuals who have been non-residents of Canada for more than six consecutive years, capital gains from the sale of most publicly traded shares are generally not taxable in Canada. This is due to Article 13(6) of the Canada–Thailand Tax Treaty, which allows Canada to tax such gains only if the individual was a Canadian tax resident at any time in the six years prior to the sale. If the person has not been a Canadian resident at any time in the past six years, then under Article 13(5), Thailand has the exclusive right to tax these capital gains — and Canada has no taxing rights on those gains from typical securities. If a Canadian tax return is being filed for other reasons (such as to report Old Age Security (OAS), Canada Pension Plan (CPP) payments, or RRSP/RRIF withdrawal incomes), it is often a good practice to: Report the capital gain on Schedule 3 (Capital Gains or Losses) in the Canadian tax return; Ensure the capital gain is included in the world wide income reported on Schedule A of the Canadian tax return Claim a matching deduction on Line 25600 (Additional deductions) of the T1 main Canadian tax return form, if applicable (for example if a non-resident to Canada for more than 6 years), referencing that the gain is exempt from Canadian tax under Article 13(5) and 13(6) of the Canada–Thailand Tax Treaty; And include a brief, one-page explanatory letter with the tax return submission to the CRA, outlining the treaty position and confirming that the expatriate individual has not been a Canadian resident during the six-year lookback period. Again, this is my opinion, and I believe this helps ensure clarity and minimizes the risk of CRA inquiries, especially since T5008 slips are automatically reported. Once again, please note that I am not a tax advisor, so take this with a grain of salt and apply your own judgement here as to whether you believe necessary to file a Canadian tax return, or whether to include any Canadian sourced stock capital gains on any such Canadian tax return, or whether you have other ways to approach the tax reporting.

Here is my current understanding in regards to the Canada-Thailand tax treat, when it comes to Canadian expatriates who are Thailand tax residents and who are not Canadian tax residents, and who still managed to retain a Canadian brokerage account where they can trade equities. I looked at tis ONLY from the perspective of selling shares in a company in a Canadian brokerage. Again, please note I am no tax advisor, so take my interpretation of this with a 'grain of salt' and verify your self. - - - - Capital Gains Taxation Under the Canada-Thailand Tax Treaty Article 13 of the Canada-Thailand Double Tax Agreement (DTA) governs Canada’s right to tax capital gains for Canadian expatriates in Thailand who are tax residents of Thailand but not tax residents of Canada and who maintain a Canadian brokerage account. Key Takeaway: If you have resided in Thailand for more than six years and have not been a Canadian tax resident at any time during those six years, Canada generally cannot tax capital gains from the sale of shares held in a Canadian brokerage account, unless an exception under Article 13 applies. Article 13 Breakdown: Article 13(1) – Applies to gains from immovable property (e.g., real estate) in Canada. It does not cover typical publicly traded stocks. Article 13(2) – Covers taxation of business assets (movable property forming part of a permanent establishment or fixed base). If you have no business operations in Canada nor Thailand involving such assets, this rule does not apply for personal tax reporting. Article 13(3) – Addresses gains from ships/aircraft in international traffic. This is not applicable to typical expatriates. Article 13(4)(a) – Grants Canada taxing rights over shares of companies whose value is principally derived from Canadian real estate (e.g., certain REITs). Most ordinary stocks are excluded. Article 13(4)(b) – Similar to 13(4)(a), but it is for an individual's interests in partnerships/trusts holding Canadian real estate. This is rarely applicable. Article 13(5) – Default rule: Capital gains are taxable only in Thailand, unless an exception (Articles 13(1)-(4)) applies. Article 13(6) – Six-year lookback rule: Canada may tax capital gains if the seller was a Canadian tax resident at any time in the six years before the sale. After six full years of Thai residency, Canada loses taxing rights under the DTA. Critical Caveat: Departure Tax While the DTA limits Canada's post-emigration taxing rights, Canadian domestic law imposes a 'departure tax' when you cease residency in Canada. This deems a sale of most worldwide assets (e.g., stocks, ETFs) at fair market value, triggering immediate capital gains tax in Canada — even if future gains on those assets later fall under Thailand's exclusive taxation under the DTA. The exceptions to departure tax are: Canadian real estate, RRSPs/RRIFs, and certain other assets are excluded from deemed disposition.

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I have done a lot more research into this mostly out of curiousity. Reading the Canada-Thaliand Double Tax agreement, and spending more effort to understand, I have come to the conclusion that for a Canadian who is a tax resident of Thailand, and not a tax resident of Canada, who still has a Canadian brokerage (such as Questrade) that capital gains on stocks bought via that brokerage are mostly (but not all) not taxable in Canada per the Canada-Thai DTA. As to which are taxable by Canada and which are not, comes down to the definition of immovable property, where Canada can tax Canadian shares/stocks (of a non-resident to Canada) where capitals gains were made in a Canadian brokerage on companies mostly involved in immovable property, but Canada can not tax shares/stocks where capital gains (made in a Canadian brokerage) which were made on companies not involved in immovable property. Most companies listed in a stock exchange involve 'moveable' property. (moveable property referring to stocks such as Bank Stocks, companies that make sell/equipment , services ... ) I hope to post more (with pointers to specific articles, paragraphs, and subparagraphs in the Canada - Thai DTA) in the subsequent days. I spent some time researching this, but i am no tax advisor, so take anything I conclude on this with a 'grain of salt'. It may be a day or so before I follow this up with the specific references in the DTA (together with an explanation). I found it all quite complicated and it took me a while before I came to my current level of what I hope to be a correct understanding.

On this topic, I vaguely recall even reading of those who had a lot of cash/investments, but with minimal 'passive income' so what they did was setup 'passive income' by some financial restructuring (where granted that restructuring cost them some money). In particular I have a vague recollection of someone who setup a registered company (where he was the only employee and the only manager). Part of the requirements for the company is to have an annual meeting with minutes. So he immediately held a meeting, where he was the sole attendee and he was the company CEO, the meeting chairperson, and also the meeting/company secretary. In the meeting the attendees (only himself) approved to grant him a monthly dividend income, which on a yearly basis exceeded the $80K/year. The dividends were deposited into his bank account, and he eventually had more than a year record of monthly dividend deposits into his account. The meeting minutes are officially registered where he opened his company. This purportedly was adequate proof for BoI. Although if it were me, i would check with BoI before adopting such an approach. What I do not understand in that approach, is how he avoided paying income tax on this dividend in the source country (where his company was registered). IMHO its far better if you can use your IRA if it is adequate. Perhaps you can have consistent monthly withdrawals that you can show as proof? Maybe also a USA (?) income tax return showing Global Income. I recently transferred my Canadian Registered Retirement Savings Plan (RRIF - which is in some ways similar in someways, but not all, to a USA IRA) to a Canadian Registered Retirement Income Fund (RRIF - which is also in some ways, but not all, similar to a USA IRA). The Canadian RRIF has a requirement to withdraw a certain % of money every year from the RRIF . I believe that meets the BoI passive income requirements. Since Canadian's have to pay Canadian tax on their RRIF obligatory withdrawals, the money withdrawn shows up as part of one's global income on a Canadian's tax return, where BoI place a lot of emphasis on the tax return .

Can money in cash, spread across multiple accounts meet the requirement? I don't know. That is a good question to ask BoI. Is there are particular reason why in that case you could not restructure and move all the necessary funds to one account? Perhaps worried re: bank insuring the money? I do believe thou, that $100K US$ equivalent, needs to be maintained the entire 5 years and needs to be immediately topped up if it falls below the $100k US$ equivalent - but that is my speculation. It is worth contacting BoI. Speaking of which, I have the $100K US$ equivalent (in Euros) in a Thai bank foreign currency account that I use for the BoI self health insurance requirement. My wife discovered SCB bank, for foreign currency account in Euros, gives 3.25% interest, which is not much, but its better than next to 0% that I get with the Thai bank where my money is located. So my wife wants me to contact BoI sometime this week, and ask if i can move this $100k US$ equivalent from one Thai bank to another, without causing any issues if (?) and when (?) it comes time to renew my LTR (in just under 3 years time) - showing a maintained the $100K US$ equivalent the entire previous 5 years. Is that even a requirement? I don't know. Keeping $100k US$ equivalent in a bank is no hardship for me - but I am 100% positive some would bristle and go ballistic at that suggestion. Using $100k equivalent money in cash in a Thai bank for the self-health insurance had NOT been my plan. Back in early 2023 when I obtained my LTR I had planned to spend that money (in Thailand) - as i had a plan to change it to Thai baht. But BoI would not accept different cash amounts that I had in some offshore trading accounts, and that $100k US$ equivalent in the Thai bank, met the BoI health insurance requirements - so I offered that up when other examples I tried failed. I confess I have been deliberately trying to avoid making money off of ANY Thai banks from bank interest on savings, as I wanted to keep my Thai sourced income below the threshold requiring me to file a Thai tax return. However I recently confirmed in my mind (via specific references/proof from my own research into Thai tax law) what others have stated on this forum, that if one has 15% withholding tax applied to interest in a Thai bank, then that interest is deemed already taxed and need not be included in the Thai tax calculation. This is off topic, but I may if this becomes a point of curiousity for some, some time in the future I may share my detailed research, where I can now point to the specific clauses in the Thai tax law that I believes show such interest from Thai banks (IF a 15% Thai withholding tax was applied) is no longer taxable by Thailand, if one so chooses. Reference passive income requirement, at that time, I obtained my income from : - Canadian Old Age Security + European Government organisation (civil service type) pension I also obtain a small German pension, but records for that is in German language, so when BoI asked for detail on that, I replied that German pension amount was not needed for me to achieve the $40K US$ /year passive annual income and BOI accepted that response. I noted this as I did not want to pay an official translator to translate my German pension records from German language to English or Thai language. Why translate such documents if it is not needed? Having stated the above, BoI still insisted I provide Canadian Tax records for tax years 2021 and 2022. I initially gave them year 2020 and 2021, but that was too old from them, they wanted to see my year 2022 tax records. This was in January year 2023, and it took me a few months to obtain that, as I had to submit my year-2022 tax return to Canada, get Canada to accept such, get Canada to report on the Canadian government year-2022 tax assessment paperwork of my global income, which also proved income > $40k US$ equivalent. BoI did throw in another curve, and asked for my specific Canadian government Pension financial record (as my being age-69, they assumed I was in receipt of such a pension). I had to reply to them, that I did not yet get such a pension as I deferred receipt of that pension to age-70 and that i did not need that proof since I already exceeded the $40k US$ income threshold with my Canadian old age security + my European gov't pension. For the $250K US investment in Thailand, I used the 50% of my share in a Thai condo + 2-million THB in Thai government bonds. Getting the Thai government bonds was another educational adventure - but I won't repeat that story here. For my financial proof renewal in 2028, I plan to simplify things. Starting in 2026 my annual income will exceed $80k US$ equivalent, so I will then have year 2026 and year 2027 Canadian tax records in year 2028 to show BoI (and hence I will no longer need to show the $250k US$ equivalent investment in Thailand which means I no longer need to keep $2-million THB in Thai government bonds - which only give me ~3% interest). And I also have learned (from another Asean Now member) the exact letter wording I should get from European Cigna (from where my health insurance comes from) so that in 2028 I no longer need to keep $100K US$ equivalent in a Thai bank as self health insurance, to satisfy BoI. This may sound like a lot of paperwork/interactions, but trust me, from my perspective, since most of the paper work was submitted over the internet, with me on my condo balcony with a fabulous sea view, sipping a glass of wine, and typing on my laptop computer, was GREATLY preferable to the previous yearly sitting for hours at a crowded immigration office to renew the permission to stay in a Type-OA (and later Type-O) non-immigrant visa. Best wishes in your efforts.

The amount is $100k US$ equivalent (not $10k), in any bank in the world. It needs to be in 'cash' in the bank. It can not be in a trading account. It needs to be in some sort of bank account where there is no equity trading. It is considered 'self health insurance'. In my case, instead of $100k US$ in a USA bank account, I used about 100,00 euros in a Thai foreign currency account. Not an ideal approach (although I do get some bank benefits given I have that money in a Thai bank). Still, in 3.5 years when I go to reprove my finances, i plan to use my European Cigna Health insurance - as one of the members on Asean now was kind enough to show me how they were able to accomplish that with Cigna (and hence I plan to do the same in the future)..

Both my wife and myself have foreign currency accounts in different Thai banks, where we keep different currencies. Nominally, we very carefully plan where we put that currency, as we have always (possibly inaccurately) understood, that to transfer a foreign currency from one Thai bank, to another Thai bank, requires the currency to be converted first to Thai baht, and then transfer back from Thai baht to the foreign currency in the receiving bank. Hence one gets HIT with 2x foreign currency exchange. My wife wants to transfer her Euros from her Krungsri (?) foreign currency account, to her SCB bank foreign currency account, as she discovered SCB gives >3% interest on a fixed term account (?) (as opposed to Krungsri which gives next to 0% interest). She today asked a person at SCB bank if she could somehow transfer Euros into their bank without it being 1st exchanged into Thai baht. She was advised it might be possible. She had to go to her Krungsri (?) bank, and ask to do an INTERNATIONAL SWIFT TRANSFER to SCB bank, even thou the transfer is not international. One then pays the fees for the Swift transfer, but that is a LOT cheaper than the currency exchange hit when going from Euros_to_Thai-Baht_back-to-Euros. But she has to confirm now that Krungsri bank will allow here to transfer money out of their bank that way via Swift, to another Thai bank. Possible < unsure > some Thai bank's policy may not allow such (as the money never leaves Thailand). I am curious to find out if she will succeed. Has anyone on Aseannow successfully done such a transfer of foreign currencies, between Thai accounts, without either (1) converting to Thai baht, or (2) transferring the money out of Thailand and then back into Thailand? This approach of using Swift (granted there will be some fees) may be the way to do it for large amount of money transfers. .