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What made you decide that you wanted to live in Thailand, how long have you lived here, and do you have any regrets ?


4MyEgo

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13 minutes ago, Will B Good said:

Damn....thought you were going say.....doh!.....just speak to these people.

 

So it is back to "eggs and baskets".

 

I did learn the hard way.......and boy did it hurt......lost £180k a few years ago going large on a share deal.....I still cry at night sometimes.

I never go in more than 20-50k AUS per share, although I do have 2 that were 100k AUD, now you got me worried.

 

Edited by 4MyEgo
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14 minutes ago, 2009 said:

JEEZ, that's some heavy tax. Could they get their arms any further up your backside?

Yep 42% is a big number, especially when they go all the way back to when you purchased it.

 

Very unfair, that and you can't vote and lose Medicare when your out of the country for 5 years.

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1 minute ago, Will B Good said:

Do you put 'stop losses' on everything?

Nope, I just buy and try to sell the same day, not looking for big gains, and so far everything adds up to meet my monthly budget, albeit it if I hung on to some of them I could probably make more, but that also increases my risk.

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Just now, 4MyEgo said:

Nope, I just buy and try to sell the same day, not looking for big gains, and so far everything adds up to meet my monthly budget, albeit it if I hung on to some of them I could probably make more, but that also increases my risk.

Thanks.....will stop asking questions now or we will get thrown off the thread....555

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2 hours ago, 4MyEgo said:

Best of luck and hope it works out for you as much as it has for me.

 

I will say this, if you own property in Sydney or in Oz, make sure you talk to your accountant with the recent capital gains tax legislation changes on 1 July 2019 where your property will be up for 42% capital gains tax from the date you acquired it, on the other hand, if you don't own property, have a great flight.

There is no capital gains on your dwelling.

If selling investment property you need to check criteria on whether required within the financial year you sell to ensure you are a resident for tax purposes. Most people will be and will be exempt from capital gains.

I have been through it all to prove the opposite that I am NOT a resident for tax purposes and there are key points that are non negotiable. Eg, how many days are you out of the country. Where is your main income derived. What shares / property etc do you own etc. Marital status…do you intend returning etc.

Also, I have inherited property since away and if I choose to sell I must reside in Australia for 2 years and lodge tax returns accordingly or I pay capital gains tax.

 

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Planned moving to SE asia since I was 15-16 years old and purposely did an army stint as well educate myself in IT as of job chances.

 

Been here since 19-20 years old ever since but did expect to end up in Indonesia (this never happened).

 

Together with a friend group here too and we all still here since (8-12 years).

Edited by ChaiyaTH
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32 minutes ago, ChaiyaTH said:

Planned moving to SE asia since I was 15-16 years old and purposely did an army stint as well educate myself in IT as of job chances.

 

Been here since 19-20 years old ever since but did expect to end up in Indonesia (this never happened).

 

Together with a friend group here too and we all still here since (8-12 years).

Was too late to edit but to sum up:

 

Why? Bad climate and a early sense the west was going backwards. Higher quality of life here for less too.

 

Regrets? No, life is too short for that.

Edited by ChaiyaTH
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1 hour ago, BritManToo said:

1st, your family are Thai and get free health care, they don't need insurance.

2nd, many people go through life without any expensive hospital treatments.

3rd, your government car and m/c insurance cover hospital bills.

 

My total spend is under 500bht/day, I don't need to double my living expenses, and with everything I'm likely to die from already excluded insurance would just be wasting my money.

As I stated in a post earlier than the one you are referring to, " I have a choice and prefer myself and my family to be treated in a private hospital therefore pay for the privilege". 

 

I have been treated in our local hospital, as has my wife, and two of our kids, hence the reason I took out private cover for all. 

 

The whole point of getting insured is to go on in life not getting treated, the fact that you take out the insurance is to avoid having to pay out of your pocket in the event that you are hospitalised. I know of a bloke who has been admitted 3 times in the last 6 months, he isn't what I would consider old at 65, his total hospital costs have been 2.6 million and fortunately for him, he has cover and was almost dead on a couple of occasions.

 

Not sure about the "government car" and m/c insurance cover the hospital, albeit it I take it you mean the government por ror bor (excuse the pronunciation) insurance side of the on the car insurance covers hospital in the even of an accident, sure, but again, I prefer to be treated in a private over a public hospital. I will refer you back to the first sentence.

 

 

 

 

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1 hour ago, XJPSX said:

There is no capital gains on your dwelling.

If selling investment property you need to check criteria on whether required within the financial year you sell to ensure you are a resident for tax purposes. Most people will be and will be exempt from capital gains.

I have been through it all to prove the opposite that I am NOT a resident for tax purposes and there are key points that are non negotiable. Eg, how many days are you out of the country. Where is your main income derived. What shares / property etc do you own etc. Marital status…do you intend returning etc.

Also, I have inherited property since away and if I choose to sell I must reside in Australia for 2 years and lodge tax returns accordingly or I pay capital gains tax.

 

That is a big statement to make, and I will respond to it like this.

 

I have research far and beyond, read legislation, spoken to my accountant, now deceased, the taxation department and have also read numerous articles on CGT with the new legislation.

 

You can believe what you want, however, if you are living in another country which is what I was referring to, as a non resident, you will be up for the 42% CGT even.

 

Now if you are saying that you are not a non resident for tax purposes, then you don't fit into what I was saying.

 

Many have lived overseas and tried to say that they were not non residents for tax purposes and I can tell you this, from the amount of cases that I have read, the majority were deemed non residents.

 

That said, I don't know your situation, but if you fit into the category of a resident for tax purposes, then good for you, you will pay the usual CGT when selling up on your investments, your PPR will be excluded, but make sure you cross your T's and dot your i's because a lot have been where you are coming from and lost.

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4 hours ago, Will B Good said:

Damn....thought you were going say.....doh!.....just speak to these people.

 

So it is back to "eggs and baskets".

 

I did learn the hard way.......and boy did it hurt......lost £180k a few years ago going large on a share deal.....I still cry at night sometimes.

£180k? rookie numbers ????

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4 hours ago, KhaoNiaw said:

Been here since 1988. I was just passing through but had a good time and stayed, well over half my life now. No regrets at all but will be moving on next year. Not because of anything wrong with Thailand, just a new adventure in a new country. 

Which country?

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