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Thai gov. to tax (remitted) income from abroad for tax residents starting 2024 - Part II
For the benefit of those aged 50+. I did a lot of my tax planning over twenty years ago, just before I moved to Thailand and whilst I was still earning income from work. Looking back, three of the things I got right were firstly, to bring over a large amount of money and invest in THB when exchange and interest rates were much better. Funds I exchanged at 70+ baht per Pound have now nearly doubled in value so this was an excellent move, if you can overcome your fear of Thai banks etc. If anyone wanted to trawl back through my mid year 2000 posts you can see where I proposed this as a good idea, whilst most other members were horrified or laughing and thought I was nuts! I remain Baht positive for the medium and longer term so this is still a viable proportion, I think. The tax aspect here is that it put my savings outside the UK where I was no longer tax resident. The second thing I got right was to buy our home and not rent accomodation, that's a strategy that has more than paid for itself already, even if I lose everything tomorrow. But to do this, you need to overcome your fear of the property market and ownership here. This move freed up income to divert to number three below. It also put the house into my wife's name , which helps with UK Inheritance Tax. The third thing is that I funded my wifes business, which has produced a very healthy tax efficient revenue stream that will continue long after I am gone. This has meant I have not had to fund my wife or her family expenses for over a decade and that I can focus on other things. Once again, to do this you need to overcome some fears. From a tax perspective, my wife and I have separate financial affairs which means she can earn the same income as me every year and also not pay tax. The last thing was that I used my UK SIPP for my investments, in previous year I have opened two more. This has meant I have been able to grow significant amounts that remain tax free (currently) and are very tax efficient. Since I don't drawdown those SIPP's, my exposure to IHT is minimised. Eventually those funds will be transferred to my wife under inheritance tax rules which are also tax efficient. The common theme here is to a) overcome your fear of incorporating Thailand into your financial planning and not remain financially isolated overseas, and b) act early with a view to the longer term and what your future position will be in 10, 15 or 20 years hence. -
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THAILAND LIVE Thailand Live Sunday 6 October 2024
Drunk Crashes Into Motorcycle, Killing Two 14-Year-Old Girls in Tragic Wrong-Way Collision The crash early in the morning , claimed the lives of two 14-year-old girls when a drunk driver in a pickup truck, driving the wrong way, collided head-on with their motorcycle. Full story : https://aseannow.com/topic/1339951-drunk-crashes-into-motorcycle-killing-two-14-year-old-girls-in-tragic-wrong-way-collision/ -
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Drunk Crashes Into Motorcycle, Killing Two 14-Year-Old Girls in Tragic Wrong-Way Collision
The crash early in the morning , claimed the lives of two 14-year-old girls when a drunk driver in a pickup truck, driving the wrong way, collided head-on with their motorcycle. The incident took place on Bang Kruai-Sai Noi Road near Nakorn Thong Park View Village, Nonthaburi. The girls, both second-year students at a local high school, were pronounced dead at the scene. Police from Bang Bua Thong Station were called to the scene around 05.00 on October 5. Accompanying them were emergency responders from the Poh Teck Tung Foundation and doctors from the Institute of Forensic Science. The victims, identified as Miss A and Miss B, were thrown from their motorcycle upon impact. The motorcycle, a Honda Wave, was found about 30 metres away, heavily damaged. The pickup truck involved, a Toyota Vigo, was discovered nearby, its front damaged. It had been driving against traffic at high speed. Mr. Noppadol (surname withheld), 18, a friend of the victims, stated that the girls had run out of fuel and had called him to help push their motorcycle home. On the way, they found a fuel vending machine and refueled, riding alongside each other afterward. As they neared the scene, they encountered the pickup truck heading toward them in the wrong direction. “I shouted for them to watch out,” Noppadol recalled. “I managed to swerve, but the truck hit them head-on before they could react.” Adding to the tragedy, Noppadol reported hearing the driver of the truck, Mr. Sitthichai (surname withheld), 35, say, “Serves them right for driving the wrong way,” shortly after the crash. Sitthichai later claimed he did not remember the details of the crash, stating he had just finished working at a beer event in the Ratchapruek area and had not slept for two days. He admitted to drinking two bottles of beer but was unsure whether he had fallen asleep while driving. A breathalyser test revealed Sitthichai’s blood alcohol level was 119 milligrams per cent, well above the legal limit. He was immediately taken into custody. Police confirmed that Sitthichai will face charges in connection with the incident, while the bodies of the victims have been sent for forensic examination. Picture from responders. -- 2024-10-06 -
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THAILAND LIVE Thailand Live Sunday 6 October 2024
Flash Flooding in Tak Province: DDPM Constructing Temporary Bridge The Tak Provincial Disaster Prevention and Mitigation Office has reported significant developments concerning the overflowing Wang River, which has eroded a vital bridge in the area. The bridge over the Wang River has been severely damaged due to the high water levels, prompting immediate action from local authorities. Full story : https://aseannow.com/topic/1339950-flash-flooding-in-tak-province-ddpm-constructing-temporary-bridge/ -
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Flash Flooding in Tak Province: DDPM Constructing Temporary Bridge
The Tak Provincial Disaster Prevention and Mitigation Office has reported significant developments concerning the overflowing Wang River, which has eroded a vital bridge in the area. The bridge over the Wang River, located in Ban Tha Phai, Moo 3, in the Sam Ngao district, has been severely damaged due to the high water levels, prompting immediate action from local authorities. On October 5, the Kamphaeng Phet Disaster Prevention and Mitigation Centre (Region 8 dispatched a team to install a Bailey bridge, a temporary solution to restore access for residents. Installation work began on October 4, and is currently in progress. The Bailey bridge measures approximately 51 metres in length and is designed to support a maximum load of 12 tons. Authorities anticipate that the bridge will be completed and ready for public use by Monday, October 7. This temporary structure aims to ensure continued mobility for the local population until a permanent solution can be implemented. Picture and video courtesy of DDPM. -- 2024-10-06 RPReplay_Final1728130388.mp4 -
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The Unforeseen Reach of COVID-19: How Lockdowns Impacted the Moon's Surface
Correlation is not causation. -
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Cannabis-Intoxicated British Man Arrested for Trespassing and Overstay
Medically and physically harmless is not the same as bad behavior. They are two separate things. Nobody is claiming that weed is 100% harmless, only that it appears to have no harmful direct physical effect on users. It typically doesn't cause any such behavioral problems. This is backed up by decades of research. This guy was probably already a misbehaving loser before he smoked or ate anything. In my 67 years going back to the 60s among dozens of hippie friends I have never seen marijuana cause any such bad behavior. And I don't know where you get the term "weed champs". Are they chasing you down the street, climbing in your windows and doors, hollering out the glories of weed? Are they marching in parades, running ads on your favorite football games? You sound like you yourself may have smoked a little too much. -
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The Unforeseen Reach of COVID-19: How Lockdowns Impacted the Moon's Surface
This is not the first time that this well-known LYCANTHROPIC effect has been validly documented. Not only can human madness cause the Moon's surface temperature to decrease, but, periodically, when the Moon's surface actually increases in temperature, then some susceptible male humans succumb to various lycanthropic symptoms..... Such as, for example: This is known as a Positive Feedback Loop, whereby, if left uncorrected, the Moon's surface temperature will continue to increase, exponentially, just as more an more male humans start to exhibit evermore severe lycanthropic tendencies. Tail-growing is just one example of such psychosomatic lycanthropic symptoms. No doubt, both are also related to slightly less albedo of the upper atmosphere of the Earth, due to decreased use of fossil fuels needed for economic activity. We also know that the Moon is gradually moving ever farther away from Earth, and will, someday, fly out into outer space, never to return. This will be the end of Mankind. -
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THAILAND LIVE Thailand Live Sunday 6 October 2024
Boeing Successfully Completes First Flight of Thailand’s First AH-6 Little Bird Helicopter Boeing has successfully conducted the first flight of the AH-6 Little Bird light attack helicopter designated for the Royal Thai Army. This milestone flight took at Boeing’s facility in Mesa, Arizona Full story : https://aseannow.com/topic/1339949-boeing-successfully-completes-first-flight-of-thailand’s-first ah-6 little-bird-helicopter/ -
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Boeing Successfully Completes First Flight of Thailand’s First AH-6 Little Bird Helicopter
Boeing has successfully conducted the first flight of the AH-6 Little Bird light attack helicopter designated for the Royal Thai Army. This milestone flight took at Boeing’s facility in Mesa, Arizona, marking a significant advancement in Thailand’s military aviation capabilities. The AH-6 helicopters, part of an order for a total of eight units, are being produced as part of Thailand’s initiative to enhance its defense readiness and modernise its military fleet. Christina Upah, Vice President of Attack Helicopter Programs and Senior Executive at Boeing Mesa, stated, “With its superior performance and flexible, easily configurable mission equipment, the Little Bird packs enormous versatility into a small, combat-proven package to get the job done. We are proud to partner with the U.S. Army to provide Thailand with these critical defense capabilities, and we look forward to supporting training for the first Thai Little Bird pilots in the near future.” Upon completion of the delivery of the helicopters, Boeing will conduct training for Royal Thai Army pilots at its Mesa site and at the U.S. Army Yuma Proving Ground. This training will enable pilots to effectively operate the AH-6 and utilise its versatile mission capabilities. Designed with a purpose-built military fuselage, an integrated cockpit, and the latest fully integrated weapon systems, the AH-6 helicopter is equipped to handle a variety of missions and adapt to diverse operational environments. This acquisition is part of a broader strategy by the Royal Thai Army to strengthen its aviation capabilities and respond to evolving security challenges. Boeing was awarded the contract for the AH-6 helicopters through a Foreign Military Sales order from the U.S. Department of Defense in February 2022. The contract includes spares, training devices, support equipment, and technical documentation for the Thai customer, ensuring a comprehensive support system for the new aircraft. Picture courtesy of Boeing. -- 2024-10-06 -
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No wonder people like to shop at Lazada.
Usually , Lazada isn't much cheaper If at all if one want's Brand name Products. -
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Bangkok Will Not Flood, PM Paetongtarn Shinawatra Assures
No, it's true, we had to do the same during the zombie outbreak back in '09. -
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Chiang Mai on High Alert as Ping River Surges Beyond 5.25 Metres
OTish but could be relevant (tho maybe not ; ) Prior to the mid-1990s, the magnetic north pole traveled at speeds of around 9 miles per year. Now, it's 34 miles annually. What accounts for the acceleration? https://science.howstuffworks.com/environmental/earth/geophysics/earths-magnetic-north-pole-has-rapidly-shifted-in-past-40-years.htm -
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Thailand's Cashless Leap: Ahead of the Asean Pack by 2028
Thailand's Cashless Leap: Ahead of the Asean Pack by 2028 It's the banks /Government / Share Holders that want the cashless society, Now if one has 1000 THB in Cash it is worth in Value always 1000TH no matter how many times it changes Hands . Now if one pays with a card 1000THB Reduces Every time in Value it gets processed and the banks collect a % of that 1000THB. So now after a number of Card Transaction ones 1000THB is Declining in favor to the banks . Just look at the Extra Profit the Banks make per day say for for millions of Card Transactions. Is it Clear Now Who and Why they want a Cashless Society? Clear as mud they say. 🙏 -
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Bangkok Will Not Flood, PM Paetongtarn Shinawatra Assures
..he told her say anything you want, it doesn't matter, what are they going to do about it <hearty laugh>
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