Tax Deductions

[kempos79]

Hi,

I have a question about tax deductions. My wife and myself bought a house. Of course the house is on my wife's name, but the mortgage payments are deducted from our account (the account is on my wife and my name). The monthly mortgage payment is 10,300 BHT which is about 120,000 BHT / year. Will I be able to deduct this amount from my income when doing taxes (I know the limit is 100,000 BHT)? My wife also works but she does not pay any taxes at the moment (she makes less than 150,000 BHT / year).

Thanks,

[Mario2008]

Not visa related, I think you will get better/more answers in the housing section.

Moved to there.

[aidenai]

You might want to have a look here, Marcin.

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

[gregb]

We have always done this when filing a joint return. In the years when we filed separate returns because my wife and I were both working and she made a substantial amount of money, then she had to deduct the interest on her tax form. The same rules apply with the 30,000 baht deduction for taking care of her parents. I deduct them on my taxes when we file jointly.

For a Thai couple, this wouldn't even be an issue. Of course you could, because the house would be in both of your names. For a foreigner though, it really presses a sticky point in the law. By the tax law, yes, it is completely legal. By the land law, however, you weren't really supposed to have a mortgage on it in the first place because you signed a form at the land office saying that all the funds were sin suan tua of the wife. That clearly can't be the case when you have a mortgage, so this issue is only even coming up because you lied.

It could get very interesting if they ever decide to start making a stink about this. For now, nobody I knows thinks anyone is ever going to open this can of worms.