Gifting the Spouse

[NoDisplayName]

On 11/19/2024 at 8:13 PM, sometimewoodworker said:

However just because you give funds to your wife outside Thailand very probably has no relevance to the TRD. Once she remits those funds to Thailand they are very probably taxable as at that point she is remitting her money.

 

Wifey called the TRD help line #1161, NOT a local office.

 

Explained I want to gift her a million baht every year, either for Xmas or birthday, into her offshore account in her name.  She'll keep it there, and will bring it into Thailand herself when needed, maybe in 5 years, maybe in 10 years.

 

TRD rep says she 'might' have to show the source of funds when she brings it in.  A letter from me to my wife, signed and dated, declaring each gift would suffice.

 

Will do more research, of course, but plan will be starting in 2025, 1 million baht equivalent annually into her new brokerage account (Schwab or Fidelity).  Print and sign a letter indicating a gift from spouse.

 

She can invest in capital appreciation ETF's that pay little or no dividends.  According to Us-Thai DTA, capital gains are tax-free, dividends taxed at 15%. 

 

I don't have to worry about exceeding my TEDA when remitting cash to then gift to her, or having to explain the source of funds.

 

She can earn a higher return than fixed account interest, and won't have to pay the obscene fees charged by Thai banks for mutual funds.

 

The only remaining question is how will her remitted funds be categorized.  Assuming her gift has increased by 20% or 30%, and she remits a portion of her account balance, how much gift and how much income did she remit?