ihightower Posted August 6, 2018 Share Posted August 6, 2018 (edited) Hi, I bought a condo (25 year old building) in Central Bangkok about 2 years ago.. and living in it. Do I have to pay annual tax for this condo? if yes? how? This is my first condo.. and I live in it. I have thai work permit and am a foreigner. and I pay monthly maintenance fee to the juristic office. Thanks Edited August 6, 2018 by ihightower Link to comment Share on other sites More sharing options...
Popular Post ChiangMaiLightning2143 Posted August 6, 2018 Popular Post Share Posted August 6, 2018 No yearly property tax on condos in Thailand.Don’t think there is any property tax at all. 5 Link to comment Share on other sites More sharing options...
meinphuket Posted August 7, 2018 Share Posted August 7, 2018 Provided you do not rent it out, and is owner occupied you are not liable for any taxes. 2 Link to comment Share on other sites More sharing options...
Henryford Posted August 7, 2018 Share Posted August 7, 2018 No taxes unless thai company owned and you pay for annual accounts Link to comment Share on other sites More sharing options...
smutcakes Posted August 7, 2018 Share Posted August 7, 2018 No tax at the moment, but if they eventually pass the land and tax bill there will be an annual property tax based on assessed value. I am sure there are a number of heavy hitters working behind the scenes to prevent it being passed. 1 Link to comment Share on other sites More sharing options...
ChiangMaiLightning2143 Posted August 7, 2018 Share Posted August 7, 2018 Look at regions around the world where elites own most of the land and properties. No or very low taxes. Low levels of public service they can afford private hospitals and schools . Link to comment Share on other sites More sharing options...
gaff Posted August 7, 2018 Share Posted August 7, 2018 4 hours ago, meinphuket said: Provided you do not rent it out, and is owner occupied you are not liable for any taxes. And even if he decides to rent he would be crazy to pay any tax ! Link to comment Share on other sites More sharing options...
khunPer Posted August 7, 2018 Share Posted August 7, 2018 On 8/6/2018 at 1:45 PM, ChiangMaiLightning2143 said: Don’t think there is any property tax at all. They – the government – talked about it, and some suggestions with percentages, and only tax for one's primary home, were up in the media, but then it became very quiet...? 1 Link to comment Share on other sites More sharing options...
medic5678 Posted August 9, 2018 Share Posted August 9, 2018 Mind if I ask how much maintenance fees, monthly costs, value of condo? Thanks. Link to comment Share on other sites More sharing options...
smutcakes Posted August 10, 2018 Share Posted August 10, 2018 20 hours ago, medic5678 said: Mind if I ask how much maintenance fees, monthly costs, value of condo? Thanks. Common Area maintenance fees probably span from 10 baht sqm per month up to about 180 baht sqm per month. Insurance cost circa 1,000- 1,500 baht per month AC maintenance contract about 2,000 per month depending on how many units you have and frequency of cleaning, fluid replacement Value of condo probably from 500,000 baht to 300-400 million. Utilities up to how much you use. Link to comment Share on other sites More sharing options...
KittenKong Posted August 10, 2018 Share Posted August 10, 2018 1 hour ago, smutcakes said: Insurance cost circa 1,000- 1,500 baht per month AC maintenance contract about 2,000 per month depending on how many units you have and frequency of cleaning, fluid replacement I pay 2,500B per year for my condo insurance. Cant really see the advantage in paying much more, unless perhaps one has huge quantities of gold bullion to consider. Does anyone actually have a monthly maintenance contract here for air-cons? I just get mine cleaned two or three times a year for a cost of around 400B per clean. So about 1,000B a year. Apart from that, in the 6 years I have had it, I have not spent a single Baht on it, nor would I expect to. And it runs 24/7. Fluid replacement? Never needed it. Fluid top-up? Never needed that either. Had I been paying 2,000B/month since I bought the unit I would be well out of pocket by now. In fact if I put aside 2,000B every month then I could use it to buy a brand new replacement air-con every 20 months, including all installation costs. That would be much better value than paying for repairs on an old one. Are you sure that you live in Thailand? 1 Link to comment Share on other sites More sharing options...
ChiangMaiLightning2143 Posted August 10, 2018 Share Posted August 10, 2018 Must be some Confusion! 300-400 million somebody buying a whole building?? I would never pay for a maintenance contract for anything. Perhaps a leased price of capital equipment. Maybe if I leased an aircraft or its jet engines (I’m not that minted). Condo fees here are very cheap comparatively. AC units only need occasional cleaning what can be done for a few hundred baht dependence on who you contact AC guys like fleecing Newbie Farangs. Should not ever need top up of refrigerants that would indicate leaks. 1 Link to comment Share on other sites More sharing options...
moontang Posted August 11, 2018 Share Posted August 11, 2018 (edited) On 8/7/2018 at 2:30 PM, gaff said: And even if he decides to rent he would be crazy to pay any tax ! no, it would be foolish not to pay....ever hear of TM30? Could be used against you. Interest and penalties are almost always worse than the original tax. Edited August 11, 2018 by moontang 1 Link to comment Share on other sites More sharing options...
moontang Posted August 11, 2018 Share Posted August 11, 2018 23 hours ago, KittenKong said: I pay 2,500B per year for my condo insurance. Cant really see the advantage in paying much more, unless perhaps one has huge quantities of gold bullion to consider. Does anyone actually have a monthly maintenance contract here for air-cons? I just get mine cleaned two or three times a year for a cost of around 400B per clean. So about 1,000B a year. Apart from that, in the 6 years I have had it, I have not spent a single Baht on it, nor would I expect to. And it runs 24/7. Fluid replacement? Never needed it. Fluid top-up? Never needed that either. Had I been paying 2,000B/month since I bought the unit I would be well out of pocket by now. In fact if I put aside 2,000B every month then I could use it to buy a brand new replacement air-con every 20 months, including all installation costs. That would be much better value than paying for repairs on an old one. Are you sure that you live in Thailand? Topping up the gas is a Brit expression that makes me cringe, because it shows a complete lack of understanding. It either leaks or it doesn't leak. And there is likely a master policy on your building...but condo insurance is cheap.... 1 Link to comment Share on other sites More sharing options...
gaff Posted August 11, 2018 Share Posted August 11, 2018 2 hours ago, moontang said: no, it would be foolish not to pay....ever hear of TM30? Could be used against you. Interest and penalties are almost always worse than the original tax. yes it happens everyday that people are caught for not paying tax ! hahahaha.... I never paid and will never pay any, even on properties. Feed the idiots if you want, I won't. Link to comment Share on other sites More sharing options...
moontang Posted August 11, 2018 Share Posted August 11, 2018 People have been caught, and fined. Why have a skeleton growing in the closet? Some of the land offices are quite meticulous. My seller refused to fudge the numbers one THB...a Thai man. I had heard only the Japanese pay the full fare in CM. Try abiding by the law; it might help your apparently low self esteem. Link to comment Share on other sites More sharing options...
burningup Posted August 11, 2018 Share Posted August 11, 2018 On 8/10/2018 at 3:25 PM, KittenKong said: I pay 2,500B per year for my condo insurance. Cant really see the advantage in paying much more, unless perhaps one has huge quantities of gold bullion to consider. Does anyone actually have a monthly maintenance contract here for air-cons? I just get mine cleaned two or three times a year for a cost of around 400B per clean. So about 1,000B a year. Apart from that, in the 6 years I have had it, I have not spent a single Baht on it, nor would I expect to. And it runs 24/7. Fluid replacement? Never needed it. Fluid top-up? Never needed that either. Had I been paying 2,000B/month since I bought the unit I would be well out of pocket by now. In fact if I put aside 2,000B every month then I could use it to buy a brand new replacement air-con every 20 months, including all installation costs. That would be much better value than paying for repairs on an old one. Are you sure that you live in Thailand? What are you insuring against? I thought fire was included in the annual fees but Im probably wrong Link to comment Share on other sites More sharing options...
burningup Posted August 11, 2018 Share Posted August 11, 2018 2 hours ago, moontang said: no, it would be foolish not to pay....ever hear of TM30? Could be used against you. Interest and penalties are almost always worse than the original tax. Hilarious ? Link to comment Share on other sites More sharing options...
burningup Posted August 11, 2018 Share Posted August 11, 2018 One of the big advantages here is no tax . Only expense I have are low common area fees. Compare that to the west where your rent return money is smashed ! Link to comment Share on other sites More sharing options...
moontang Posted August 11, 2018 Share Posted August 11, 2018 wait till you have to evict... Link to comment Share on other sites More sharing options...
burningup Posted August 11, 2018 Share Posted August 11, 2018 (edited) 7 minutes ago, moontang said: wait till you have to evict... oh thats easy. Although juristic by law are not allowed to cut electricity they will cut water on request. I can call the electricity company myself and have it disconnected. Along with 2 months deposit in claw how long do you think they will stay? And yes i have done it to a filthy pig Kuwaiti (full ashtrays in every room of a non smoking lease) when I got sick of his lies. Walked right on in with my key and told him to pay rent or he will live in darkness..Done deal !! Edited August 11, 2018 by burningup Link to comment Share on other sites More sharing options...
ChiangMaiLightning2143 Posted August 11, 2018 Share Posted August 11, 2018 Good for you. If a Kuwaiti smoked in my non smoking rental I would have gladly discounted the rent and come in with paid toughs from the local TukTuk rank toss him out for free! Link to comment Share on other sites More sharing options...
burningup Posted August 11, 2018 Share Posted August 11, 2018 (edited) 6 minutes ago, ChiangMaiLightning2143 said: Good for you. If a Kuwaiti smoked in my non smoking rental I would have gladly discounted the rent and come in with paid toughs from the local TukTuk rank toss him out for free! He paid for a deep clean of all the air con units and a triple clean by maids from deposit money . Just a bit over 4k . lesson learned No Arabs at any price! Edited August 11, 2018 by burningup Link to comment Share on other sites More sharing options...
moontang Posted August 11, 2018 Share Posted August 11, 2018 better read up on the new laws... Link to comment Share on other sites More sharing options...
burningup Posted August 11, 2018 Share Posted August 11, 2018 zzzzzzzzzzzzzzzzzzzzzz? Link to comment Share on other sites More sharing options...
KittenKong Posted August 11, 2018 Share Posted August 11, 2018 4 hours ago, burningup said: What are you insuring against? I thought fire was included in the annual fees but Im probably wrong Structural insurance is included in the common fees, and cover for damage caused by floods (for example) from common areas, but the internal finishing of your condo (built-in kitchens, tiles, ceilings), and all your furniture and personal items, are unlikely to be covered by the building insurance. That will depend on your individual building though so you should check with your front office. 1 Link to comment Share on other sites More sharing options...
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