Changing from 800k to monthly 65k

[hotandsticky]

1 minute ago, lopburi3 said:

As I said - in denial that corruption is corruption.  I have no issue with ligament agent use for those needing or wanting legal help. 

 

 

Nobody cares if you have an issue or not. Your self-righteous approach is redundant; corruption is endemic in Thailand and here to stay. Using agents to make life easier is a natural course of action.

 

I will be using an agent this year because I have a specific reason to do so. Please don't try and tell me that my extension stamp is any less legitimate than yours!

[Fairynuff]

1 minute ago, lopburi3 said:

If you receive extension without meeting requirements those that do meet requirements.  Latest is the need to keep 800/400k in bank all year - direct result of agents.

Utter nonsense. I’ll respond back if you can find a valid argument. Up to now I just see an angry person banging away at his keyboard.

[Old Croc]

I've also considered this action. A couple of thoughts:

As the current extension was granted under the 800k method a picky IO could insist that you meet the rules of cash in the bank for the year until the next extension.

 

Bringing in 65, 000 a month could place you in a high tax bracket in 2025

[lopburi3]

Just now, Old Croc said:

I've also considered this action. A couple of thoughts:

As the current extension was granted under the 800k method a picky IO could insist that you meet the rules of cash in the bank for the year until the next extension.

 

Bringing in 65, 000 a month could place you in a high tax bracket in 2025

Have seen reports of such picky IO requirements.  So doing so would be the safe bet if unable to get firm commitment.

 

The income tax is still a gray area and as this is pension by definition expect most countries tax treaties would exempt in any case.

[Old Croc]

7 minutes ago, lopburi3 said:

Have seen reports of such picky IO requirements.  So doing so would be the safe bet if unable to get firm commitment.

 

The income tax is still a gray area and as this is pension by definition expect most countries tax treaties would exempt in any case.

I always use words like "could" instead of "will" to indicate grey (gray) opinion.

[bbko]

13 minutes ago, Old Croc said:

Bringing in 65, 000 a month could place you in a high tax bracket in 2025

 

8 minutes ago, lopburi3 said:

The income tax is still a gray area and as this is pension by definition expect most countries tax treaties would exempt in any case.

I just finished my extension based on retirement last week, and when I showed the IO my bank letter with the 12 months of transfers, he asked me where does this money come from, pension or other? I replied pension,  and he asked for a letter showing, luckily I was able to produce it.

[Pappap]

4 hours ago, bbko said:

About 3 years ago I switched from parking my money in a Thai bank, to doing monthly international transfers using Wise.

The way I did it was about two-three months before my annual extension using the money in the bank method, I started doing FTT transfers (just to learn the system), then once my money in the bank extension was approved, I let it sit there for a few more months but continued the monthly transfers.  The following year, about 3 weeks prior to my extension, I requested the bank letters (they take 5-7 business days) and got my extensions from then on, no problems.

Thanks,thats exactly my plan...just one unknown, did you use/withdraw the 800k after a few months? 

[bbko]

11 minutes ago, Pappap said:

Thanks,thats exactly my plan...just one unknown, did you use/withdraw the 800k after a few months? 

Yes, after a few months of me doing monthly transfers and feeling sure about how to do it, I started using that money for other things. 

One small mistake I learned about was; that time I was using that one bank account for daily shopping, cash w/d, bill payments, etc. and I didn't update my bank book right after the overseas transfer and after several weeks, all my payments, deposits, w/d got consolidated and the FTT code wasn't in my bankbook but easily obtainable from the bank.

Now I have 2 bank accounts, one only for the monthly transfers, and the other for daily transactions, less photocopying during visa extension time. 

[Pappap]

16 hours ago, bbko said:

Yes, after a few months of me doing monthly transfers and feeling sure about how to do it, I started using that money for other things. 

One small mistake I learned about was; that time I was using that one bank account for daily shopping, cash w/d, bill payments, etc. and I didn't update my bank book right after the overseas transfer and after several weeks, all my payments, deposits, w/d got consolidated and the FTT code wasn't in my bankbook but easily obtainable from the bank.

Now I have 2 bank accounts, one only for the monthly transfers, and the other for daily transactions, less photocopying during visa extension time. 

Perfick 🙏 yep have two accounts already to keep transfers easily visible, thank you 🤗