Foreigner Tax Requirements

[PatThaiM]

Hi, I'd like to know if the plan for foreigners to pay tax on foreign income has been stopped for sure. I've recently moved here and have plan to send  at least A$6k every month. I am also wanting to a buy a condo in the future so will be sending about A$200k. Should I go to the tax office to ask or is this a foolish thing to do?

[ukrules]

Nothing about the 'reversal' has changed yet. Until it's published in the Gazette it's just civil service waffle.

 

When it gets published it will be major news.

 

[CharlieH]

MOVED to Finance

[Presnock]

19 hours ago, PatThaiM said:

Hi, I'd like to know if the plan for foreigners to pay tax on foreign income has been stopped for sure. I've recently moved here and have plan to send  at least A$6k every month. I am also wanting to a buy a condo in the future so will be sending about A$200k. Should I go to the tax office to ask or is this a foolish thing to do?

You need to wait until the final bill is published to see what it entails!

[PatThaiM]

Thanks. I’ll wait to see what happens.
Would it be wise to take a large sum of cash when I arrive next time in Dec?

[Presnock]

24 minutes ago, PatThaiM said:

Thanks. I’ll wait to see what happens.
Would it be wise to take a large sum of cash when I arrive next time in Dec?

hopefully before then we will all know how to respond and remittances.  

[unblocktheplanet]

I believe this is on point. I have my savings in a US bank.

 

I'm worried moving it here would trigger FINCEN or AMLO, etc. & it could be confiscated. Maybe even the bank would notify the US taxman in the event of such a large transfer.

 

Anyone have an idea of a working strategy? TIA!

[black tabby12345]

23 hours ago, ukrules said:

Nothing about the 'reversal' has changed yet. Until it's published in the Gazette it's just civil service waffle.

 

When it gets published it will be major news.

 

 Now looks  like getting even more distant.

Pheu Thai govt recently  lost coalition partner.

[Magictoad]

39 minutes ago, unblocktheplanet said:

I believe this is on point. I have my savings in a US bank.

 

I'm worried moving it here would trigger FINCEN or AMLO, etc. & it could be confiscated. Maybe even the bank would notify the US taxman in the event of such a large transfer.

 

Anyone have an idea of a working strategy? TIA!

Please LESS TLAs and less As in general.  What the f#%k is a FINCEN or AMLO? REALLY FFS!

[Peter Crow]

12 minutes ago, black tabby12345 said:

 Now looks  like getting even more distant.

Pheu Thai govt recently  lost coalition partner.

Yup and once army moves in, aside of martial law and the width or interpretation of a certain article, nothing much changes.

[khunPer]

On 6/18/2025 at 1:15 PM, PatThaiM said:

Hi, I'd like to know if the plan for foreigners to pay tax on foreign income has been stopped for sure. I've recently moved here and have plan to send  at least A$6k every month. I am also wanting to a buy a condo in the future so will be sending about A$200k. Should I go to the tax office to ask or is this a foolish thing to do?

Nothing has changed so far, but it has been suggested to omit the foreign income tax for two years for foreign income transferred same year as earned.

[Presnock]

18 hours ago, Magictoad said:

Please LESS TLAs and less As in general.  What the f#%k is a FINCEN or AMLO? REALLY FFS!

you are aware of course that in the BBB there is a provision to tax all remittances from the US to a foreign country.  If your bank is on the ball, and you have provided proper identify as a US citizen then they might not tax it.  If they do tax it then you can file for a tax credit the following year.  Latest I saw was 3.5% and yes, it is targetting foreigners sending dollars overseas but it says that adequate "proof" of US ciizenship will be required to not be charged that tax and then re-coup as a tax credit the following year.

[unblocktheplanet]

19 hours ago, Magictoad said:

Please LESS TLAs and less As in general.  What the f#%k is a FINCEN or AMLO? REALLY FFS!

Easy to look up. FINCEN Financial Crimes Enforcement Net in US and AMLO is the Anti-Money Laundering Authority of Thailand.

 

Am I at risk of confiscation for a large transfer (before 2024).

 

TIA! Oh, that means thanks in advance!

 

But what's BBB?

[JohnnyBD]

17 minutes ago, unblocktheplanet said:

But what's BBB?

I think he mean's Trump's "Big Beautiful Bill". A tax bill currently working it's way through the US Congress.