Are You Gettting All The Allowances You Are Entitled To?

[Neeranam]

I went down to the tax office to submit my forms. I have 2 kids and last year told them that one had just been born - they said I wasn't entitled to any allowance for her until she started learning. This year, I mentioned that I had 2 kids and the woman said I could claim allowance for them both. Amazingly, she didn't even need any borth certificate or any other documents -she took my word for it and gave me a tax rebate!

I aso got a rebate for paying "pragan sang kom"(insurance) and aasked a few questions about it - i'm entitled to 300 baht a month for my kids - backdated it will be quite a lot of money - 20,000 baht for both kids. How many more things am I entitled to that I don't know about?

Do you know all your benefits?

BTW, doea anyone know the website for "pragan sang kom"?

[MeaMaximaCulpa]

BTW, doea anyone know the website for "pragan sang kom"?

My guess would be pragansang.kom

[twschw]

^ TV humor that worked for once

[Neeranam]

BTW, doea anyone know the website for "pragan sang kom"?

My guess would be pragansang.kom

see avatar

[Neeranam]

sorry forgot to add

[MeaMaximaCulpa]

I did forget the too, so all is forgotten.

I hope some gurus smarter than me can come to your resque with your tax questions. I have no kids, and I do not work here anymore, and hence pay no tax.

[PattayaParent]

From the website http://www.rd.go.th/publish/6045.0.htm

Life insurance premium paid by taxpayer or spouse - Amount actually paid but not exceeding 50,000 Baht each

It lists all your other entitlements also.

[sbk]

Got an error on that link pattayaparent.

[samran]

http://www.thaivisa.com/forum/index.php?ac...st&id=16490

this is a tax calculator that I put together a while back. Lists the exemptions and tax deductions you can get there for spouses, children and education. You also get allowances for home loan interst payments, insurance and retirement fund payments. Beleive the allowances for investing on long term funds have increased. While you have to lock your money up for 5 years, it can be three if timed well (ie investing on Dec 31 counts as one year). Can help if you are on the cusp of a higher tax threshold.

You need to look at the social security site, but you should have been eligible for some sort of 'baby bonus' of perhaps 8000 odd baht when the child was born.

200 baht per month was the other one.

[cmsally]

I thought their website was sso.go.th

but doesn't download.

Each birth you are liable to 12,000Bt (unless one of my employees got her figures wrong) as well as free medical bills and 300Bt/month/child until 6yrs old

One of my employees lost her card and had to pay for some medical bills but when she got a new card, took the receipts and got everything back.

If you have a private medical plan/insurance you can also deduct that from tax.

[Neeranam]

As normal in times of uncertainty, I consult the somtam lady at the end of the soi. She directed me to the office. The woman said that I would get both daughters back dated for 1 year -350 baht a month. I missed the baby bonus but never mind it was a free birth at the govt hospital.

[chillout]

Does anyone know if you are eligable for tax deductions when paying into an offshore pension or life assurance policy?

[samran]

Does anyone know if you are eligable for tax deductions when paying into an offshore pension or life assurance policy?

no, it has to be local.

I pay all mine offshore.

But, given that Thai insurance is pretty bad value, it isn't worth it. I'll keep my $750,000 life insurance policy for $30 per month in Australia.

Pension funds and long term funds here can be better value though. Apart from the tax deduction, there is relatively good potential for some upside. Fees are low and you can use private sector fund managers based here in Thailand. ING and Aberedeen are two of the best.

[bkkmick]

Take a look at this article in today's The Nation

[PattayaParent]

Got an error on that link pattayaparent.

It opens from my Favourites OK but I agree not from the Forum.

Try again.

http://www.rd.go.th/publish/6045.0.html

Edit: OK checked ut after posting and it's good for me.

Edited March 12, 2008 by PattayaParent

[chillout]

Does anyone know if you are eligable for tax deductions when paying into an offshore pension or life assurance policy?

Take a look at this article in today's The Nation

Great article! I notice that it doesn't specify whether the retirement funds have to be based in Thailand or not. It only says that Life Assurance has to be based here.

[sbk]

Got an error on that link pattayaparent.

It opens from my Favourites OK but I agree not from the Forum.

Try again.

http://www.rd.go.th/publish/6045.0.html

Edit: OK checked ut after posting and it's good for me.

that link works, thanks for trying again!