Kenny202 Posted March 15 Share Posted March 15 Sorry if this has been answered elsewhere but not a regular reader so may have missed it. About to transfer my yearly living expenses from Australia. Usually use Wise. Is there any new requirements re transferring money? Paperwork / declarations required? I am transferring from my superannuation account which is earning interest but non taxable in Australia as I have reached maturity age and it is my original Superannuation account that was paid into monthly when I was working. Will I need to declare or pay tax on this in a Thai tax declaration at the end of the year?....I assume no tax payable here as Australia / Thailand have a tax agreement? Has anything become clearer over the last few months? Any help appreciated Link to comment Share on other sites More sharing options...
CharlieH Posted March 15 Share Posted March 15 MOVED to Finance forum. Link to comment Share on other sites More sharing options...
Henryford Posted March 15 Share Posted March 15 The new rules are as clear as mud but i am assuming that i will need to submit a tax return next Jan - Mar 2025 on all monies remitted here during 2024. If i can prove they were subject to UK tax then there should be no Thai tax to pay. 1 Link to comment Share on other sites More sharing options...
Mike Lister Posted March 15 Share Posted March 15 You could start by reading the document in the OP below which will explain the tax requirements. In a nutshell, you will need to determine what parts of the funds that you transfer are assessible to tax in Thailand and which parts are exempt and then potentially file a Thai tax return on the assessible income. There is an active thread about tax where you can ask questions as they occur to you, that thread is linked below also. The Tax Guide is Here: The Thread to Raise Issues is Here: 1 Link to comment Share on other sites More sharing options...
Kenny202 Posted March 15 Author Share Posted March 15 What I am most interested in, in the interim is if I will have any delay or problem....extra paperwork to fill out with Wise, or is that all as normal? Will there be a hold up or issues with the bank (please explain etc) when the money hits the Thai bank? Link to comment Share on other sites More sharing options...
Mike Lister Posted March 15 Share Posted March 15 4 minutes ago, Kenny202 said: What I am most interested in, in the interim is if I will have any delay or problem....extra paperwork to fill out with Wise, or is that all as normal? Will there be a hold up or issues with the bank (please explain etc) when the money hits the Thai bank? There is no relationship really between making bank transfers and taxation in Thailand, they are different and separate processes. You can make transfers all day and night and nothing has changed in that respect. You just need to understand whether that money you are transferring is taxable or not, only you can know that. Once the transfer is made, the money is in the country and if it is taxable, you can't undo the process later. 1 Link to comment Share on other sites More sharing options...
ottrods Posted March 15 Share Posted March 15 Are UK military pensions taxable in Thailand Link to comment Share on other sites More sharing options...
Mike Lister Posted March 15 Share Posted March 15 2 minutes ago, ottrods said: Are UK military pensions taxable in Thailand No Link to comment Share on other sites More sharing options...
Kenny202 Posted March 15 Author Share Posted March 15 9 minutes ago, Mike Lister said: There is no relationship really between making bank transfers and taxation in Thailand, they are different and separate processes. You can make transfers all day and night and nothing has changed in that respect. You just need to understand whether that money you are transferring is taxable or not, only you can know that. Once the transfer is made, the money is in the country and if it is taxable, you can't undo the process later. The money isn't taxable in Australia, I assume not taxable in Thailand? Link to comment Share on other sites More sharing options...
Mike Lister Posted March 15 Share Posted March 15 1 minute ago, Kenny202 said: The money isn't taxable in Australia, I assume not taxable in Thailand? Not a valid assumption at all! Read the tax guide, plus you'll need to understand your DTA. I strongly suggest you join the thread in the second link I gave you and ask your question there where fellow Australians will be able to help. Link to comment Share on other sites More sharing options...
Kenny202 Posted March 15 Author Share Posted March 15 3 minutes ago, Mike Lister said: Not a valid assumption at all! Read the tax guide, plus you'll need to understand your DTA. I strongly suggest you join the thread in the second link I gave you and ask your question there where fellow Australians will be able to help. Thanks Mike, will do 1 Link to comment Share on other sites More sharing options...
ottrods Posted March 15 Share Posted March 15 10 minutes ago, Mike Lister said: No Thank you 1 Link to comment Share on other sites More sharing options...
OJAS Posted March 15 Share Posted March 15 4 hours ago, ottrods said: Thank you Military pensions are covered by Article 19(2)(a) of the UK-Thailand Double Taxation Convention: https://assets.publishing.service.gov.uk/media/5a80bddc40f0b623026953eb/uk-thailand-dtc180281_-_in_force.pdf then scroll down to page 27 Link to comment Share on other sites More sharing options...
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