retirement visa funds taxable?

[Captbonio]

 

rgg2001uk... Thanks for your feedback. I do agree with a lot you say. I know you are right on this but I guess I am at a stage in life where I still treat it as an adventure and as such will make the odd mistake now and then. i am probably naive on a lot of what goes on and hence my reading of these blogs nad forums to help me gain the knowledge from old hands here. It is an interesting experience to hear what everyone has to say. Clearly some are bitter about their experiences , and some are not. Such is life. Thanks for your input. Much appreciated

 

Mate, too be honest I am at a stage in my life where its all about capital protection rather than capital growth.

 

Been there done that, too many sleepless nights, cups of coffee and cigarettes, thousands wiped out and not a damned thing I could do about it.

 

Been there done that and no intention of ever revisting it.

 

If you have youth on your side and a career to go back to, by all means go for it.

 

Best of luck.

 

 

Thanks... yes I am sort of there too in many ways.. made and lost fortunes, in and out of love, not young but still a glutton for punishment...

I will probably stay this way till my grave takes me...but Im not going quietly...

Nice to have met you.. cheers.

[KittenKong]

Short answer, No.

Long answer: no because the retirement deposit must have a fixed Baht value and must be available as cash at all times. So no shares, no funds, no bonds, no property etc etc.

[CBR250]

If you have a Retirement Visa as an Australian, you don't need the 800k thb in cash. If you have a monthly income of over 65k thb (single - not sure about married) you can get a Stat Dec at the Oz Embassy in Bangkok stating this, and use this at visa time.

I was wary that this would not work - but as I am reluctant to put money into a Thai bank where the interest earned is less than inflation, I tried it this year (2014). No problems.

The real problem you may have is the tax issue of now being a "Non-resident for Tax purposes" with the ATO. If they classify you as such, you pay 32.5% from the first dollar. No $20k threshold and sliding taxes. And they are quite sleazy in their approach to this. Basically, they try to push you into being a non-resident if you do not live in Australia for 183 days per year. It can of course be more complicated than this legally, with questions of substantial social and family ties etc etc - but nothing is very clear. Be warned. There is a thread on Thai Visa where his has been discussed - but only in half-baked desultory manner. (see: http://www.thaivisa.com/forum/topic/748094-australian-taxation-and-its-effect-on-australians-living-in-thailand/).

[cas67]

Thanks CBR250, That is definitely something worth worrying about. I must say that they are all after you and your dollars. I didnt know that is how it worked. We are aussies but live thailand but our money is in Aus. So not sure what we will do. Thanks again

[CBR250]

Forgot my manners with the preoccupation of practicalities. Sorry.

 

So, a little bit late, but welcome to life in Thailand! I wish you both a wonderful, healthy and happy life here.