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

[4MyEgo]

13 minutes ago, Leaver said:

 

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?   

 

50% of my money is in the stock market and 50% is in the bank, I earn money from fully franked stocks and therefore pay no tax, I also buy and sell stocks from the 50% that I have in the bank when I believe it to be a good opportunity to make a quick buck as there is no capital gains tax payable on stocks bought and sold as a non resident.

 

The money I have in the bank earns SWF, sweat f... all, any interest earned from the banks is taxed at 10% from the interest earned as a non resident, so you have to let the banks know your a non resident otherwise you will pay higher tax rates.

 

I do however still do some consultancy work for existing clients and don't pay tax as I have them pay it into other accounts and then transfer it to me and if anyone ever asks it was a loan paid back to me, during the last 4 years I used to pay the 32.5%, then I woke up of late and said, you know what, f/it, so no tax for the last financial year and I am hanging up my boots when my registration expires in May as I was supposed to have retired 5 years ago at 55, that was the plan, but the extra $20k a year which I didn't expect came in handy, albeit it I had to pay tax on it, minus some expenses.

 

Any other income earned in Australia, be it from rent or work is taxed at 32.5% from zero, i.e. no threshold which is usually $18,200 although there was talk of lifting that for Australian tax payers to $21,000, but I haven't paid any attention as it doesn't apply to me.

[Leaver]

5 minutes ago, 4MyEgo said:

 

50% of my money is in the stock market and 50% is in the bank, I earn money from fully franked stocks and therefore pay no tax, I also buy and sell stocks from the 50% that I have in the bank when I believe it to be a good opportunity to make a quick buck as there is no capital gains tax payable on stocks bought and sold as a non resident.

 

The money I have in the bank earns SWF, sweat f... all, any interest earned from the banks is taxed at 10% from the interest earned as a non resident, so you have to let the banks know your a non resident otherwise you will pay higher tax rates.

 

I do however still do some consultancy work for existing clients and don't pay tax as I have them pay it into other accounts and then transfer it to me and if anyone ever asks it was a loan paid back to me, during the last 4 years I used to pay the 32.5%, then I woke up of late and said, you know what, f/it, so no tax for the last financial year and I am hanging up my boots when my registration expires in May as I was supposed to have retired 5 years ago at 55, that was the plan, but the extra $20k a year which I didn't expect came in handy, albeit it I had to pay tax on it, minus some expenses.

 

Any other income earned in Australia, be it from rent or work is taxed at 32.5% from zero, i.e. no threshold which is usually $18,200 although there was talk of lifting that for Australian tax payers to $21,000, but I haven't paid any attention as it doesn't apply to me.

 

Thanks.

 

I can scroll back, but I seem to remember you stated you pay no tax as a non resident.  That's what caught my eye.  

 

Now, it appears you actually do pay some tax.  Is that correct?  

[4MyEgo]

2 minutes ago, Leaver said:

 

Thanks.

 

I can scroll back, but I seem to remember you stated you pay no tax as a non resident.  That's what caught my eye.  

 

Now, it appears you actually do pay some tax.  Is that correct?  

 

No tax on shares.

 

10% of whatever interest I receive from the banks, which is miniscule.

 

Tax from casual/relaxed consultancy work when ever it came through, as mentioned, around $20k income per annum from consultancy work, less some expenses, then the 32.5% tax, so about $4K at the most.

[Leaver]

15 minutes ago, 4MyEgo said:

 

No tax on shares.

 

10% of whatever interest I receive from the banks, which is miniscule.

 

Tax from casual/relaxed consultancy work when ever it came through, as mentioned, around $20k income per annum from consultancy work, less some expenses, then the 32.5% tax, so about $4K at the most.

 

Ok.  Understood.  Thanks for sharing.  

[elliss]

On 1/17/2021 at 10:16 PM, 2009 said:

 

Interesting, what are the benefits for you?

 UK .  NHS,  has end of live care,,  free. 

     When the writing is on the wall , thats the place i wanna be .

      RIP ...

[bwpage3]

3 hours ago, Jingthing said:

Supermarkets cook for you? Do tell.

Most supermarkets these days have "Hot Food Bars" where you can buy an assortment of meals that are cooked and ready to eat. Anything from Fried Chicken, meatloaf, ribs, mashed potatoes, mac and cheese, you name it.

[bwpage3]

2 hours ago, 4MyEgo said:

 

50% of my money is in the stock market and 50% is in the bank, I earn money from fully franked stocks and therefore pay no tax, I also buy and sell stocks from the 50% that I have in the bank when I believe it to be a good opportunity to make a quick buck as there is no capital gains tax payable on stocks bought and sold as a non resident.

 

The money I have in the bank earns SWF, sweat f... all, any interest earned from the banks is taxed at 10% from the interest earned as a non resident, so you have to let the banks know your a non resident otherwise you will pay higher tax rates.

 

I do however still do some consultancy work for existing clients and don't pay tax as I have them pay it into other accounts and then transfer it to me and if anyone ever asks it was a loan paid back to me, during the last 4 years I used to pay the 32.5%, then I woke up of late and said, you know what, f/it, so no tax for the last financial year and I am hanging up my boots when my registration expires in May as I was supposed to have retired 5 years ago at 55, that was the plan, but the extra $20k a year which I didn't expect came in handy, albeit it I had to pay tax on it, minus some expenses.

 

Any other income earned in Australia, be it from rent or work is taxed at 32.5% from zero, i.e. no threshold which is usually $18,200 although there was talk of lifting that for Australian tax payers to $21,000, but I haven't paid any attention as it doesn't apply to me.

Your posts all seem to boast on your investments, yet your income mentioned is peanuts.

 

How much interest are you earning from the bank for your 50%? <1.5%?

 

That doesn't sound like anyone that knows anything about investing.

 

 

 

 

[JAS21]

21 minutes ago, elliss said:

 UK .  NHS,  has end of live care,,  free. 

     When the writing is on the wall , thats the place i wanna be .

      RIP ...

Very interesting opinion. My wife lived with me in the UK for a few years. We looked after my mother, with a care worker, until she said agreed that it would be best for her to go into a home. She became doubly incontinent. She went into the best private care home, within quite a distance, that we could find.

 

My wife said ...I do not want to get old in the UK. Here you can always get someone to look after you 24hrs a day and not expensive. A NHS Care Home ...um ...better than nothing I suppose......

[4MyEgo]

34 minutes ago, bwpage3 said:

Your posts all seem to boast on your investments, yet your income mentioned is peanuts.

 

How much interest are you earning from the bank for your 50%? <1.5%?

 

That doesn't sound like anyone that knows anything about investing.

 

 

 

 

 

Calm down will you, no need to have a heart attack !

 

No one is boasting, read all of the posts before you get your knickers in a twist !

 

If you read all of my posts you would understand that have survived here the last 5 years on the tax free money I have earned through shares, money in the bank is back up money, I am ok with earning ZERO on it for any matter, as long as I have access to it to be able to top up and buy shares when the market is down, I make a lot more that way then thinking about what measly interest I can make locking it away for a year, e.g. one stock I purchased under a year ago that I recently sold returned me 10%, so if I had that amount in the bank, I would be lucky to get <1.5%, I am doing just fine thank you very much ????

 

The income (extra) from consultancy work 20k is peanuts, it actually pays for my beer money, takes an hour or so a time to do the work starting at the lowest point to the highest point, which is days, and I get anything from 6,000 to 69,000 baht per consultancy done, depending on the length of time it takes, and I did pay 32.5% tax on that, something better than nothing, plenty of time on hands to do it too, maybe one job a month.

 

I never said I know anything about investing money, but I know this much, with the 50/50 split I have done over the past 5 years, I have lived comfortably here without putting my hand in my own capital (pocket), that includes paying for private health cover, overseas holidays, domestic holidays, also staying at 5 star hotels with the family, like I said, I am doing just fine for someone who actually knows nothing about investing. Could I make more, suppose I could, but with more comes risk, and as I know nothing about investing, best I keep doing best what I have been doing for the past 5 years.

 

Over and out as I don't want to sound as if I am boasting, but the shares do make me some serious coin, did I mention, it's tax free too, oops, careful, don't want to sound like I'm boasting to use your words ????

 

Edited January 22, 2021 by 4MyEgo

[Nemises]

18 hours ago, olfu said:

My  first choice?--USA

Why?--. Supermarkets cook for me

8 hours ago, EVENKEEL said:

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

 

That occurs in Thailand also, not just USA! 

My local supermarket in BKK allows you to pick any meat from the counter and they cook it for you.

[Tagged]

5 hours ago, Nemises said:

 

That occurs in Thailand also, not just USA! 

My local supermarket in BKK allows you to pick any meat from the counter and they cook it for you.

Wow Im impressed. I used to go to Centara and they served me wine and food, I just picked from the menu. 

 

Now my gf shopping and cook for me and she is Thai and follow me everywhere I go in the world

Edited January 23, 2021 by Tagged

[shy coconut]

On 18/01/2021 at 7:55 AM, Tagged said:

Love Madeira and just a 9 hours flight to Brasil

Are there direct flights from Funchal to Brasil?

[Dagfinnur Traustason]

Six feet under! And I don´t mean Australia.

Edited January 24, 2021 by Dagfinnur Traustason

[Tagged]

46 minutes ago, shy coconut said:

Are there direct flights from Funchal to Brasil?

I replied to him wanting to live in Portugal, so from Lisboa you have direct flights, and Madaira is such a lovely Island to holiday at, but I would not live there 12 months a year. 

[Jeffr2]

36 minutes ago, Tagged said:

I replied to him wanting to live in Portugal, so from Lisboa you have direct flights, and Madaira is such a lovely Island to holiday at, but I would not live there 12 months a year. 

I read good things about the Canary Islands.  I'd love to visit one day....

 

[Tagged]

45 minutes ago, Jeffr2 said:

I read good things about the Canary Islands.  I'd love to visit one day....

 

Lately I went to Tenerife, and cant say I would change for Thailand. But havent been to the canaries since I was a kid. Family have a house at Costa Blanca coast, and it is a nice place to retire, but still i like Thailand better. Also have a family house in Natal, and friends in Fortaleza, and still rate Thailand higher at the moment of different reasons.  

 

Spain for how it have developed as a tourist and retirement destination, and Brasil for safety and personal feeling of  freedom travelling around. 

 

 

[Jeffr2]

8 minutes ago, Tagged said:

Lately I went to Tenerife, and cant say I would change for Thailand. But havent been to the canaries since I was a kid. Family have a house at Costa Blanca coast, and it is a nice place to retire, but still i like Thailand better. Also have a family house in Natal, and friends in Fortaleza, and still rate Thailand higher at the moment of different reasons.  

 

Spain for how it have developed as a tourist and retirement destination, and Brasil for safety and personal feeling of  freedom travelling around. 

 

 

After I retired, we spent a few years exploring places to live.  Argentina, Chile, Mexico, Costa Rica, Panama, Ecuador, etc, etc.  In the end, Thailand was the best.  Though we are looking to relocate as soon as this virus goes away.  Not sure where, but it has to be warm.  And cheap! ????

 

I'm hoping to explore a few caribbean islands.  I've been to many, but not in years.  I'm afraid the weather (hurricanes) and cost might put us off.

[tonray]

Malaysia...before In landed in Thailand, I spent some wonderful time there...the multicultural aspect of the country is far more appealing to me...but now there's a girl and a house and a car...and oh well you know the rest. Anxiously awaiting the die down of Covid travel restrictions to re-connect with the favorite place in SE Asia.

[Jeffr2]

1 minute ago, tonray said:

Malaysia...before In landed in Thailand, I spent some wonderful time there...the multicultural aspect of the country is far more appealing to me...but now there's a girl and a house and a car...and oh well you know the rest. Anxiously awaiting the die down of Covid travel restrictions to re-connect with the favorite place in SE Asia.

We spent a few months traveling around Malaysia.  Didn't have the snook (fun) that Thailand has.  It was OK, but decided on Thailand instead. 

 

Went back a few years ago and really liked Langkawi and then went to KL, which we quite liked.  Nice city.

[Tagged]

59 minutes ago, Jeffr2 said:

After I retired, we spent a few years exploring places to live.  Argentina, Chile, Mexico, Costa Rica, Panama, Ecuador, etc, etc.  In the end, Thailand was the best.  Though we are looking to relocate as soon as this virus goes away.  Not sure where, but it has to be warm.  And cheap! ????

 

I'm hoping to explore a few caribbean islands.  I've been to many, but not in years.  I'm afraid the weather (hurricanes) and cost might put us off.

How was Costa Rica? I would like to visit for some months, but to far away to relocate from my orign country. My criteria is a direct flight or smooth transmission if have to change. 

[Tagged]

50 minutes ago, tonray said:

Malaysia...before In landed in Thailand, I spent some wonderful time there...the multicultural aspect of the country is far more appealing to me...but now there's a girl and a house and a car...and oh well you know the rest. Anxiously awaiting the die down of Covid travel restrictions to re-connect with the favorite place in SE Asia.

Malaysian is also high on my list. A bit more organized and very good infrastructure, and as the international kitchen they have in at least KL. 

[Tagged]

Just now, Tagged said:

Malaysian is also high on my list. A bit more organized and very good infrastructure, and as the international kitchen they have in at least KL. 

As well nice to travel in on motorbike. A bit more diciplined traffic even countryside. 

[Jeffr2]

15 minutes ago, Tagged said:

How was Costa Rica? I would like to visit for some months, but to far away to relocate from my orign country. My criteria is a direct flight or smooth transmission if have to change. 

CR was OK!  Quite nice actually.  A bit of an issue with crime, especially in the capital.  Food is fair, transport is OK, lots to see.  A bit on the price side due to so many North Americans!!!! 5555.  But overall, quite nice.

 

[jomtienisgood]

2 hours ago, Jeffr2 said:

CR was OK!  Quite nice actually.  A bit of an issue with crime, especially in the capital.  Food is fair, transport is OK, lots to see.  A bit on the price side due to so many North Americans!!!! 5555.  But overall, quite nice.

 

Well done..... Blame it all on the Americans. 5555555 Ever been to Puerto Rico??

[Jeffr2]

9 minutes ago, jomtienisgood said:

Well done..... Blame it all on the Americans. 5555555 Ever been to Puerto Rico??

I said North Americans. Many I met there were from Canada. And 15 years later, we're still very good friends.

 

What's Puerto Rico got to do with this?  But yes, been there.

[Jingthing]

2 hours ago, Jeffr2 said:

CR was OK!  Quite nice actually.  A bit of an issue with crime, especially in the capital.  Food is fair, transport is OK, lots to see.  A bit on the price side due to so many North Americans!!!! 5555.  But overall, quite nice.

 

Yeah I've been there. Nice little country. Friendly people. But I found the food awful and my understanding is that at this point its quite expensive compared to Latin American competition. So is Panama especially Panama City.

.

[jomtienisgood]

52 minutes ago, Jeffr2 said:

I said North Americans. Many I met there were from Canada. And 15 years later, we're still very good friends.

 

What's Puerto Rico got to do with this?  But yes, been there.

I know what you wrote. P.Rico has nothing to do with it. Just wondering if you been there. Nothing more or less. Just A question...

[Jeffr2]

18 minutes ago, jomtienisgood said:

I know what you wrote. P.Rico has nothing to do with it. Just wondering if you been there. Nothing more or less. Just A question...

Ok. Sorry. Nice old Town, some pretty good diving. But they are insane drivers and crime is a big issue. Oh...and hurricanes!

 

I would not want to live there.

 

A place I'm going to check out is the US Virgin Islands. Got a friend who lives there and says nice things about it. But expensive!