If you weren't in Thailand, where would you be?

[2009]

2 hours ago, bwpage3 said:

You should know why many Americans live in Thailand. 

 

They didn't plan financially and they cannot afford to retire in their own countries.

 

What is your story? Escaping the cold for the third world and all it's downfalls?

 

Let's see? Florida has tons of Thai people, Thai restaurants, Thai grocery, Thai temples. Same as Thailand. Weather averages 94-95F or less in Summer. Much less than Thailand. No VISA hassles. Traffic and pollution 10 times worse in Thailand. So you must have moved to Thailand because of low cost? Because you can get the same thing in much better surroundings?

 

You didn't answer the question why there are so many Thai's are in Florida, which on average, appear to be financially way better off than any foreigners living in Thailand?

 

You don't think you can buy winter clothes in Florida? Really? Ridiculous. Point and click and the best winter clothes in the world can be delivered right to your door.

 

Any one that rides a bike is not a wannabe. That is the lifestyle they choose. You seem to know very little about this.

 

Nothing in your reply is even close to the truth.

 

 

 

You could also go to an Irish pub in Fiji. Doesn't mean you are in Ireland, does it?

 

Why would someone go to a Thai temple in Florida? If I go to Florida I am going to Disneyland and then I am gonna eat a swordfish from between the cheeks of a fat redneck beachball wearing a MAGA hat cos when I go to a country I like to experience THAT country!

 

Third world? America is a zoo right now.

 

Better surroundings? You seem to have developed a sense of irony. Florida is  the Pattaya of America.

 

Maybe the Americans did plan financially but got totally <deleted>-reamed by student loans or your medieval healthcare system.

 

To answer your question, why are there so many Thais in Florida?

 

Lemme see, tough one, really a head-scratcher.

 

Well, they grew up in a Thai village with little education. Their only option in Thailand is to earn minimum wage. Even if they got a crappy degree, they would still be on minimum wage here,  pretty much. The only other option to make more then is...well...you know...

 

Or they could go to Florida and wash dishes, be a waitress, or Thai cuisine cook maybe. Or they can do Thai massage and get more than 100b an hour.

 

All of a sudden...they can ACTUALLY MAKE MONEY with little to no education or skills. AND they can send more money back to their family in the village.

 

Right?

 

But you do know: we, farang, do not fall into this category, numbnuts.

 

 

Edited January 19, 2021 by 2009

[Leaver]

1 hour ago, 4MyEgo said:

The bonuses are I pay no tax or capital gains tax on my investments because I am a non resident to my old country

 

1 hour ago, 4MyEgo said:

Will I ever return to my homeland $hit yeh, in about 7 years to collect my pension, albeit it I will have to live there for 2 years before I can have it made portable to Thailand,

 

I agree with your post, but you should seek advice on the above.  

 

Basically, taxes are borderless now.  

 

 

 

Edited January 19, 2021 by Leaver

[MarcelV]

I'd probably be living with my mom back in The Netherlands. Miss her a lot, but still happy to be here instead.

[madmen]

5 hours ago, 4MyEgo said:

 

I personally disagree with your above comment.

 

I moved here at 5 years ago at age 55 because I could afford to retire in Thailand and live the same life here that I had back in my home country without having to work 14-16 hour days and stress out all the time.

 

Sold my house, invested my money, to date it hasn't cost me one baht from my pocket because my investments have paid me what I need to survive here, I also have private health cover which hasn't cost me one baht because my investments pay for it.

 

Built a house 4 times bigger than the shoe box I was living in for one tenth of what it would have cost me back there, in other words I would have been able to build a double width garage for what it cost me to build this house, ok, so it's in the wife's name, no big deal, only invested as much as I am prepared to lose.

 

The weather is good overall, especially if you have built a house that keeps you cool in summer.

 

Living in the country has it's advantages, like being away from people, i.e. if you like that kind of life, that was the change I wanted, albeit it would have been nice to be by the sea, but naturally it would have cost more and we would be closer to people, so it has worked out for us, and when we want a sea change we either drive or fly down to the sea side for a holiday.

 

Food is plentiful if you have money and there is quality food you can buy from Makro, VillaMart for example, just depends on your budget and if you want to buy cheap and poor quality, I would imagine there is plenty of that around, like I said, depends on ones budget, we are not all on incomes that we couldn't afford to live on in our own countries, I maintain what it would have cost us to live on back in the old country for food and added private health cover on top of that.

 

The bonuses are I pay no tax or capital gains tax on my investments because I am a non resident to my old country, plus electricity is super cheap here as are the monthly water bills and practically zero council rates being up country.

 

Sure Thailand has it's negatives, it isn't always pretty and can be trying at times, but one has to learn to adapt and not hold onto the things he cannot change or expect to be changed, especially when it is not his country, he can do as I do, shake ones head, sometimes often, curse and spit the dummy for a minute and then calm down, yes it took me a while to learn to say, "it is what it is".

 

Will I ever return to my homeland $hit yeh, in about 7 years to collect my pension, albeit it I will have to live there for 2 years before I can have it made portable to Thailand, i.e. if they don't change the current legislation, or stop the pension before I get to 67, that said, be interesting to know where they are going to find all this money to pay back borrowed to keep everyone afloat during the pandemic, and if I do qualify for the pension and can have it paid here in Thailand, I will more than likely return to live out my remaining years, i.e. if Covid doesn't get me or some other illness from all of the food poisoning sugars/salt consumed over the years.

 

Too bad it didn't work out for you in those 10 years, but you have to have money to survive anywhere when retiring, otherwise you will live life based on the income you have and that is not the life I chose after working hard all those damn years that almost cost me dearly, life is for living.

 

Bizare analogy! if you buy something, you have paid for it by using your capital to generate an income. The 100k A month your spending is not free since that money could be used for reinvesting. It's dead money. at the go go bar or private health care. 

. It's not free lol 

 

What happens if your investment goes pear shaped or are you nieve enough to think it won't 

 

[talahtnut]

I'd like to be on the West Front of the United States Capitol Building in Washington, D.C.

tomorrow to see the 2nd civil war break out. What fun.

[4MyEgo]

4 hours ago, madmen said:

Bizare analogy! if you buy something, you have paid for it by using your capital to generate an income. The 100k A month your spending is not free since that money could be used for reinvesting. It's dead money. at the go go bar or private health care. 

. It's not free lol 

 

What happens if your investment goes pear shaped or are you nieve enough to think it won't 

 

 

Bizare analogy, not really, common sense perhaps. 

 

Reinvesting my money and live of what, I would need to work, which I choose not to.

 

Dead money, no it's profit from my investments that I live off, simple really ????

 

Naivety would have been to have left kept my small home of 80m2 back in my home country vs this 320m2 home and continue to work to survive, and pay pay higher electricity costs, and higher council and water rates and go on fewer domestic and international holidays.

 

No doubt the property would appreciate in value over time, but retiring and investing my money as mentioned over the past 5 years has given me a better quality lifestyle that is not costing me from my investments, it may not have no appreciated in the past 5 years, especially with the current climate, however that is coming good. Like I said, it hasn't cost me one baht to live here and to go on holidays here and abroad, albeit it was pre pandemic days.

 

This works extremely well for me, no longer a prisoner of the slave trade, even split invested 50/50 shares + bank so if I do end up losing my investments, I have a fall back position which should keep me going for a minimum 5 years, suppose I could stretch it to 7 until I receive the pension, but you know the old saying, if the banks go, we go with em.

 

My plan has never been to live off a pension, but if that does come one day because of the decision I made, sel-a-vee, but for now, I have been enjoying the ride, and will continue to do so through careful investing and as mentioned have my 50/50 split as a back up plan.

[Jeffr2]

12 hours ago, Jingthing said:

That isn't entirely fair. The majority of Flip (Fine Looking Island People) expats I have met leave for economic reasons but hope to go back home someday (bringing money). 

 

I have visited and I decided against moving there, but I would still consider it a better option (for me anyway) than the USA. 

100% agreed.  IMHO, the food is terrible, typhoons are a real problem, security is an issue (no fun to see guns at every store), Manila is a mess with regards to traffic.

 

But there are some good beaches, and most of the people are very nice.  But not a place I'd want to visit.  I do believe, like here, many are there to find younger partners.

 

I hope to get back there to visit Palawan some day...

[Jeffr2]

5 hours ago, talahtnut said:

I'd like to be on the West Front of the United States Capitol Building in Washington, D.C.

tomorrow to see the 2nd civil war break out. What fun.

Disgusting comment especially since 6 people died in the last riot.  

[Tagged]

12 hours ago, bwpage3 said:

You should know why many Americans live in Thailand. 

 

They didn't plan financially and they cannot afford to retire in their own countries.

 

What is your story? Escaping the cold for the third world and all it's downfalls?

 

Let's see? Florida has tons of Thai people, Thai restaurants, Thai grocery, Thai temples. Same as Thailand. Weather averages 94-95F or less in Summer. Much less than Thailand. No VISA hassles. Traffic and pollution 10 times worse in Thailand. So you must have moved to Thailand because of low cost? Because you can get the same thing in much better surroundings?

 

You didn't answer the question why there are so many Thai's are in Florida, which on average, appear to be financially way better off than any foreigners living in Thailand?

 

You don't think you can buy winter clothes in Florida? Really? Ridiculous. Point and click and the best winter clothes in the world can be delivered right to your door.

 

Any one that rides a bike is not a wannabe. That is the lifestyle they choose. You seem to know very little about this.

 

Nothing in your reply is even close to the truth.

 

 

First of all I have lived partly in Florida, Spain, Portugal, because I have been skydiving in my earlier day. I first came to Thailand to learn kiting, but I had problems with my back at that time, and gave it up, but what happend to me when I stayed here in Thailand, my health improved. My gout and back became asymptomic, and compare to the clima where I had lived before even less. Now I only feel it when it is extreme hot during a month or two. Im 52 and still working back home, so with a direct flight back home from BKK, it made my commuting to work effortless. 

 

I really do not own you an explanation, but it is always annoying when somebody start pulling your leg. 

 

Another things with Thailand, it is great landscape to drive motorbike, hiking, climbing, kayaking, diving, freediving, swimming, and latest paragliding and stay healthy as well manage to put away money for future but still live a decent interesting life. 

 

My gf have a small farm where we have animals, vegetables, fruits, fish, I have built a decent gym, garage and workshop so I have something to do when I stay at her homeplace. This is a geat base to travel from as well when we have time. 

 

Hope this helped your curosity about me. 

[spidermike007]

15 hours ago, Jingthing said:

That's a good list and I thought that cheap good housing wasn't possible there but have recently been following an expat channel of an American guy that lives in a province outside Manila paying 60 dollars a month (living with a woman) who thinks 100 dollars a month would be luxurious. Obviously not in a central Manilla or Cebu though but he doesn't need a vehicle. (The Philippines Info Channel.)

 

 

I am sure that is possible, but from what friends tell me, who have lived there, or are living there now, and from everything else I have heard, it is very difficult to find a decent spot, for the kind of money a guy pays in Pattaya or Hua Hin, for instance. There are an abundance of studios here, that are newer, clean, and in nice buildings for 6000 or so. That is very hard to find in the PI, and alot of places are like something you would find in Tijuana 30 years ago. In fact, the entire nation feels like one huge Tijuana to me. And I am talking the old Tijuana! I see alot of these kinds of videos online, and alot of them are quite suspect.

[2009]

10 hours ago, madmen said:

Bizare analogy! if you buy something, you have paid for it by using your capital to generate an income. The 100k A month your spending is not free since that money could be used for reinvesting. It's dead money. at the go go bar or private health care. 

. It's not free lol 

 

What happens if your investment goes pear shaped or are you nieve enough to think it won't 

 

 

Dead money at the Gogo bar?

 

What are you talking about?

 

You don't see the value in that? Do you want to live your life or what?

 

Private health insurance, dead money? If you don't have healthcare YOU are dead. Game over.

 

You know there is value in enjoyment, security etc etc.

 

Will you tell me my bed is dead money?

 

Why don't you live under a bridge? Go and sleep on concrete.

[jomtienisgood]

19 hours ago, Lacessit said:

If it was not Thailand, the Philippines or Cambodia. I like countries where women don't care if I am old and ugly.

And have money.. 555555

[tinca tinca]

philippines

[Ron jeremy]

On 1/19/2021 at 10:37 PM, spidermike007 said:

I am sure that is possible, but from what friends tell me, who have lived there, or are living there now, and from everything else I have heard, it is very difficult to find a decent spot, for the kind of money a guy pays in Pattaya or Hua Hin, for instance. There are an abundance of studios here, that are newer, clean, and in nice buildings for 6000 or so. That is very hard to find in the PI, and alot of places are like something you would find in Tijuana 30 years ago. In fact, the entire nation feels like one huge Tijuana to me. And I am talking the old Tijuana! I see alot of these kinds of videos online, and alot of them are quite suspect.

For $6k a month you are living like a local in a room, not a condo, not an apartment.

this is a monthly wage in some countries and there are many rooms for this price in these countries. Not just Thailand, quite easy to find and in some places of better value.

[Nemises]

On 1/20/2021 at 12:08 AM, 4MyEgo said:

Sold my house, invested my money, to date it hasn't cost me one baht from my pocket because my investments have paid me what I need to survive here, I also have private health cover which hasn't cost me one baht because my investments pay for it.

 

On 1/20/2021 at 10:37 AM, 4MyEgo said:

it's profit from my investments that I live off,

 

On 1/20/2021 at 12:08 AM, 4MyEgo said:

Will I ever return to my homeland $hit yeh, in about 7 years to collect my pension

 

 

 

Nice posts mate, thanks for sharing and good to hear that you're living off your investments. 

But just wondering how you will qualify for the pension given your substantial investments and the income that they are producing?

[4MyEgo]

3 hours ago, Nemises said:

 

 

 

 

 

Nice posts mate, thanks for sharing and good to hear that you're living off your investments. 

But just wondering how you will qualify for the pension given your substantial investments and the income that they are producing?

Cheers

 

From my research and understanding, you are allowed so to have so much money (threshold), i.e. either buy the money being in the bank, invested or by owning a property, the last one is my preferred option as I don't want to be living there in a rental property with the family, i.e. lost money paying rent, and if the timing is good, might be able to sell it at a break even point when the two years is up, or even make a little profit, CGT free, or take a little oss vs having paid rent.

 

Naturally I would have to reduce the amount of money I have to be able to qualify, will probably do that in a year or two the most and as I have a daughter back in Oz, when she finds a unit she wants to purchase with her partner, I will be the lender, i.e. the bank, she just finished uni and is looking to move out from her mums with her partner, and it will be paid in cash so to speak, and I will be on the title as the lender, (Caveat Emptor) and when I return to Thailand, she will continue to pay the loan off with her partner as she would the bank, the bonus for her is when I cark it, she automatically gets her inheritance, as per the will and the loan is paid off so to speak.

 

If she ever splits with the partner, the mortgage will always be the same, so if the unit is sold, I have to receive the full amount borrowed as there will  be no record of her ever paying me any money and the partner will get what profit is made after me (the bank) is paid off, less agents and solicitors fees, he has agreed to that, as I am not looking for a big return.

 

If I cark it and they don't split, all and good for them, what happens after I am gone, well I suppose it would be a slight win fall for him, guess that's compensation to him for having to put up with her.

 

 

Edited January 21, 2021 by 4MyEgo

[olfu]

My  first choice?--USA

Why?--because its cheapest and I am local. Supermarkets cook for me and amazon best for shopping. 

Negative?--no females so I have to go to Thailand.

Second choice?--Japan but only in summer.

In short I prefer to travel.

[Nemises]

24 minutes ago, 4MyEgo said:

Naturally I would have to reduce the amount of money I have to be able to qualify, will probably do that in a year or two 

 

Nice. Sounds like you've got it all sorted - especially that you're planning on gifting 5 or more years before applying for the OAP.

 

Remember to keep up to date with Centrelink's age pension "gifting" rules. As you would know, lot's of links out there like this one:

 

https://seasonsagedcare.com.au/blog/age-pension-gifting-rules/

[Mike Teavee]

On 1/17/2021 at 10:36 PM, Smelg said:

I have some friends in the philippines ,,the weather is warm ..the money is good ..and just about everyone speaks good english ..not sure about the visa situation.???

I had to make a choice between Philippines (Davao City) & Thailand and in the end I chose Thailand as I felt the infrastructure here (in Bangkok) is much better, so it's much easier for me to live here... After 12 solid months & 18 months before that living here part time (10 days a month) I still feel that way... Hardest thing is the language barrier, but it's on me to improve that.

 

I made the decision 4 years ago & at that time I'd been with my Filipina GF for about 6 years (+ already had a house in Kapalong, 2 hours north of Davao City), spent the next 2 years working out how/when to make the move, part of which was how she could move over with me (came down to getting married, buying her an Elite Visa or her doing Visa Runs via quarterly trips back to the PI)...  After 2 years it finally sunk in with her that I wasn't going to change my mind about moving to Thailand & so we split up. 

 

Back to the OP, if I wasn't in Thailand now I would be in Philippines (somewhere in the Vassayas) OR South America, gotta love the Latinas ???? 

 

[Mike Teavee]

On 1/19/2021 at 9:28 PM, Leaver said:

 

 

I agree with your post, but you should seek advice on the above.  

 

Basically, taxes are borderless now.  

 

 

 

 

I'm assuming @4MyEgois from Australia & don't know the tax laws there but if they are anything like the UK, as a non-resident for tax purposes the only capital gains you're liable for is on property gains, gains on things like Stocks & Shares are exempt, unless you bought them before you became non-resident (for Tax purposes) & return to the UK before 5 complete Tax years have elapsed... 

 

E.g.... Buy some shares on 5th April 2019 & some other shares on 6th April 2019 then become non-resident for Tax purposes from the 2019/2020 Tax year (i.e. from 6th April 2019) ...

• If you return to the UK anytime before 6th April 2024 you will pay CGT on any gains made on the shares you bought on the 5th April 2019 but not on the shares you bought on the 6th April (i.e. whilst you were non-resident for tax purposes
• Return after the 6th April 2024 and you won't pay CGT on any gains from sales for any of the shares irrespective of when you bought/sold them 

[Mike Teavee]

On 1/19/2021 at 6:12 PM, madmen said:

Your joking, that maniac Duterte makes Prayuth look like Walt Disney. When were you bullied by a soldier? 

No hoops for phillipine visas? You may want to spend 3 minutes with mr Google 

 

Of course there is all the other stuff like insanely high crime rate, machine gun security men everywhere, cyclones, siht food but the girls have bigger boobs so there's that ????

Duterte has one of the highest popularity ratings of any world leader, every Filipino I know loved him, including the few dozen or so that I worked with in Singapore. The crime rate for Davao City is amongst the lowest of any comparably sized city in the world because of Duterte & now his daughter.  

 

As for Visas... 

• The Philippine SRRV* (Special Retirement Visa) is (or was up until very recently) very easy to get, age 35-50 you need $20,000 USD, 50+ you need $10,000, ex-US military or people with long term health issues could get it for as low as $1,500 USD....
• OR marry a Filipina & get automatic 1 year on entry + 1 year extensions no financial requirements 
• OR enter on a Visa exempt (30 days) and extend in chunks of 3 ( can extend twice for 6) months for a maximum of 3 years, leave the country for 1 night & the clock starts ticking again, I've met guys who have lived there for decades doing this

*NB The SRRV was recently suspended whilst it was being reviewed & I believe that they're considering scrapping the < 50 year old component for all but retired Ex-US Military 

 

Yes there are armed guards on stores everywhere, but there are also armed guards in places like large department stores in Singapore, you just don't see them very often & let's not start on the numbers of armed people everywhere in the US.  

 

You are right about the food though, thank god for all the Korean/Japanese restaurants there... 

 

 

[4MyEgo]

2 hours ago, Nemises said:

 

Nice. Sounds like you've got it all sorted - especially that you're planning on gifting 5 or more years before applying for the OAP.

 

Remember to keep up to date with Centrelink's age pension "gifting" rules. As you would know, lot's of links out there like this one:

 

https://seasonsagedcare.com.au/blog/age-pension-gifting-rules/

Yes I plan as best I can and try to keep up with the changes, but the 5 year rule is the one to time, then make the loan paperwork out with the solicitor as me being the mortgagor and getting the daughter to sign it, making sure the property when purchased is in her name only, if the partner splits and wants a slice then he will have to go down the path of making a claim through defacto relationship which he would be entitled too, I could also loan the daughter more money (cash) against her asset to keep the loan amount in keeping with it's value, so if he ever wanted a slice, he would get nothing as she would have to repay me, (the bank) all that is owed, albeit she wouldn't be holding the cash, sort of paper money if you get my drift and is my way of protecting her.

 

Got to be cruel to be kind as they say ????

 

[4MyEgo]

1 hour ago, Mike Teavee said:

I'm assuming @4MyEgois from Australia & don't know the tax laws there but if they are anything like the UK, as a non-resident for tax purposes the only capital gains you're liable for is on property gains, gains on things like Stocks & Shares are exempt

 

I can assure you 4MyEgo does know the tax laws from his country of birth where he has his money invested, your assumption that I am from Australia is correct.

 

From what you have posted regarding the UK tax laws, I would say they are fairly similar, no tax or capital gains tax on shares purchased when your residency changed, providing your income earning shares, the ones paying a dividend are 100% franked, i.e. the share holding company taxes out the tax already when it pays the dividend amount.

 

If you own and rent a property in Australia as a non resident your as we say: far-ed, because with the new law passed in 2019, an investment property when sold now pays capital gains tax from the very first day it was purchased, previously it was the very first day you left the country, so anyone owning a property back in Oz and sells it, is going to more or less be giving most of its capital gains to the tax man, unless they are looking to return to Oz and move into it at a later date, I would assume they would then pay a portion of it, not sure how that is going to work, but sounds very messy, suffice to say, I got out of the market in time, that said, even though it is supposedly rising at the moment, I cannot see it being sustainable and when and if they make any changes to negative gearing laws which is overinflating prices, be an interesting space to be watching how far back the market comes, 50% perhaps.

 

So at the moment I am sitting pretty and earning what I need to survive here comfortably, can't say my money has grown in the last 5 years, but living off of what it has returned me works just fine for the moment, as I look for opportunities to increase my capital without too much risk and no tax payable. 

[spidermike007]

13 hours ago, Ron jeremy said:

For $6k a month you are living like a local in a room, not a condo, not an apartment.

this is a monthly wage in some countries and there are many rooms for this price in these countries. Not just Thailand, quite easy to find and in some places of better value.

They are large studios, with balconies. About 30 to 40 meter spaces. Not something I would want to live in, but comfortable for a modest bachelor. The building have pools, gyms, etc, and are centrally located. Good value. 

[Mike Teavee]

3 hours ago, 4MyEgo said:

I can assure you 4MyEgo does know the tax laws from his country of birth where he has his money invested, your assumption that I am from Australia is correct.

Sorry, my statement "I'm assuming @4MyEgois from Australia & don't know the tax laws there but if they are anything like the UK" was supposed to read that I don't know the Australia Tax laws, & in no way imply that you don't... 

 

Sounds like CGT on Aus Property is the same as in the UK, only our law change came into effect on 6th April 2015 so any gain (as a non-resident for tax purposes) before then is exempt from CGT, it's the gains after (or from the date somebody became non-resident) that you would need to pay CGT on.

 

Edited January 22, 2021 by Mike Teavee

[4MyEgo]

38 minutes ago, Mike Teavee said:

Sounds like CGT on Aus Property is the same as in the UK, only our law change came into effect on 6th April 2015 so any gain (as a non-resident for tax purposes) before then is exempt from CGT, it's the gains after (or from the date somebody became non-resident) that you would need to pay CGT on.

That is how it was for Australian's and we usually follow your system or have done in the past, so watch out for the any new changes to yours, they stuck it to us non residents as of 1July 2019, i.e. if you have a property and become a non-resident, your capital gains taw will commence from the day you purchased it, which is ludicrous, e.g. if I purchased it in 1990, and moved here after 1 July 2019 and then needed money real quick and sold it, I would be charged CGT all the way back to 1990 even though I have only lived here for 2 years and the highest rate is 42%, go figure, that and expats can't vote, they worked it all out didn't they, and when a property is sold, the solicitor has to complete a form with the vendor, i.e. where do you reside, are you a non resident for tax purposes, etc, etc, and if they solicitor fails to comply properly, they have to pay for the f/up, if all and good they have to keep and remit 12.5% tax from the initial 10% deposit on the purchase of the property, then upon settlement release the funds to the vendor and the vendor pays the CGT in the financial years tax return, now if that were me, they would get my middle finger, no doubt I would be pulled up as did Paul Hogan for failing to lodge his tax returns as a non resident some years ago at the airport when he returned after a few years away.

 

The above said, as long as they don't tax us on shares and apply CGT on them, I'm as happy as a larrikin ????????

Edited January 22, 2021 by 4MyEgo

[Jingthing]

9 hours ago, olfu said:

My  first choice?--USA

Why?--because its cheapest and I am local. Supermarkets cook for me and amazon best for shopping. 

Negative?--no females so I have to go to Thailand.

Second choice?--Japan but only in summer.

In short I prefer to travel.

Supermarkets cook for you? Do tell.

[EVENKEEL]

22 minutes ago, Jingthing said:

Supermarkets cook for you? Do tell.

Go into Smart Foods in Ca. and you can pick out any meat from counter and they cook it for you. Very nice.

[Leaver]

8 hours ago, Mike Teavee said:

 

I'm assuming @4MyEgois from Australia & don't know the tax laws there but if they are anything like the UK, as a non-resident for tax purposes the only capital gains you're liable for is on property gains, gains on things like Stocks & Shares are exempt, unless you bought them before you became non-resident (for Tax purposes) & return to the UK before 5 complete Tax years have elapsed... 

 

E.g.... Buy some shares on 5th April 2019 & some other shares on 6th April 2019 then become non-resident for Tax purposes from the 2019/2020 Tax year (i.e. from 6th April 2019) ...

• If you return to the UK anytime before 6th April 2024 you will pay CGT on any gains made on the shares you bought on the 5th April 2019 but not on the shares you bought on the 6th April (i.e. whilst you were non-resident for tax purposes
• Return after the 6th April 2024 and you won't pay CGT on any gains from sales for any of the shares irrespective of when you bought/sold them 

 

I am not Australian, but if the member is Australian, a quick Google found it at the top of the page.

 

https://www.ato.gov.au/rates/individual-income-tax-rates/

 

Foreign resident tax rates 2020–21

Foreign resident tax rates 2020–21

Taxable income	Tax on this income
0 – $120,000	32.5 cents for each $1
$120,001 – $180,000	$39,000 plus 37 cents for each $1 over $120,000
$180,001 and over	$61,200 plus 45 cents for each $1 over $180,000

Edited January 22, 2021 by Leaver

[Leaver]

6 hours ago, 4MyEgo said:

 

I can assure you 4MyEgo does know the tax laws from his country of birth where he has his money invested, your assumption that I am from Australia is correct.

 

From what you have posted regarding the UK tax laws, I would say they are fairly similar, no tax or capital gains tax on shares purchased when your residency changed, providing your income earning shares, the ones paying a dividend are 100% franked, i.e. the share holding company taxes out the tax already when it pays the dividend amount.

 

If you own and rent a property in Australia as a non resident your as we say: far-ed, because with the new law passed in 2019, an investment property when sold now pays capital gains tax from the very first day it was purchased, previously it was the very first day you left the country, so anyone owning a property back in Oz and sells it, is going to more or less be giving most of its capital gains to the tax man, unless they are looking to return to Oz and move into it at a later date, I would assume they would then pay a portion of it, not sure how that is going to work, but sounds very messy, suffice to say, I got out of the market in time, that said, even though it is supposedly rising at the moment, I cannot see it being sustainable and when and if they make any changes to negative gearing laws which is overinflating prices, be an interesting space to be watching how far back the market comes, 50% perhaps.

 

So at the moment I am sitting pretty and earning what I need to survive here comfortably, can't say my money has grown in the last 5 years, but living off of what it has returned me works just fine for the moment, as I look for opportunities to increase my capital without too much risk and no tax payable. 

 

I didn't see your other posts before I replied to the other member.

 

I am not Australian, but was wondering how income earned in Australia, any income, be it rent, dividends etc, be tax free as a non resident.  

 

I posted something from the Australian government showing it's 32.5% from dollar zero.

 

Is all your money in fully franked stocks?  No property?  No cash at bank?  No diversification?