Foreign Loan Interest Deductible From Rental Income ?

[cyrilmadrid]

Hello. I want to buy a condo which I intend to rent. Although I am not a resident in Thailand, I understand that under the Tax Treaties, this rental income would be taxable in Thailand.

I would like to know if it is interesting for me to get a loan at home, in order to be able to deduct interest from rental income. Would the Thai Tax authorities admit deduction from rental income of the interest I would pay on my foreign loan ?

Regards

[eljeque]

It is highly unlikely that you would be able to get a loan here to buy a condo. HIGHLY!!

So, you will not need to worry about the interest on the loan.

Few people report their income from rental property, so it is unlikely that you would need to worry about taxes either.

Being a overseas landlord is not a lot of fun. It is really worth your while to consider buying the property at the time that you plan to relocate here and investing otherwise to get a return. it the property market is your bag, and you are big on Thailand, then consider a property fund, as it requires no maintenance, and you can sell at an instant.

Good luck

[cyrilmadrid]

It is highly unlikely that you would be able to get a loan here to buy a condo. HIGHLY!!

So, you will not need to worry about the interest on the loan.

Few people report their income from rental property, so it is unlikely that you would need to worry about taxes either.

Being a overseas landlord is not a lot of fun. It is really worth your while to consider buying the property at the time that you plan to relocate here and investing otherwise to get a return. it the property market is your bag, and you are big on Thailand, then consider a property fund, as it requires no maintenance, and you can sell at an instant.

Good luck

Thanks. I know I wouldn't get a local loan, this is why I wrote 'foreign loan', a loan I would get overseas (personal loan without recourse to the asset).

You are right that I have read since then that very few people report their income, so it may be the easiest solution

Regarding your last point, you're not wrong. I did think about a Property Fund... it is true I may want to buy closer to retirement, unless I find good opportunity (someone desperate to sell a good asset).

[eeconomist]

Thanks. I know I wouldn't get a local loan, this is why I wrote 'foreign loan', a loan I would get overseas (personal loan without recourse to the asset).

You are right that I have read since then that very few people report their income, so it may be the easiest solution

Regarding your last point, you're not wrong. I did think about a Property Fund... it is true I may want to buy closer to retirement, unless I find good opportunity (someone desperate to sell a good asset).

Well, I know that the United Overseas Bank Singapore and Bangkok Bank provides loans for foreigners to purchase condo in Thailand!!

[jopham]

I thought that as a non Thai you are not allowed to rent out any condo(s) you own. It can only be for own private use.

Am I wrong with to believe in this?

[eeconomist]

I thought that as a non Thai you are not allowed to rent out any condo(s) you own. It can only be for own private use.

Am I wrong with to believe in this?

Nope, you can rent it out!

[donx]

I thought that as a non Thai you are not allowed to rent out any condo(s) you own. It can only be for own private use.

Am I wrong with to believe in this?

Nope, you can rent it out!

He means yes, you are wrong, you can rent it out!