Property and House Tax Talk

[junglechef]

Lots of chatter on the Thai pages about the new proposed house and land ownership (not sales) tax.

Interested in feedback about anything anyone has heard.

(If any of you must insult me feel free cause I know your right and I'm an idiot to ask anything or participate in a (this??) community forum (yes still feeling the sting from the abuse from my last inquiry))

[WinnieTheKhwai]

I can't own land so it looks like they won't be getting money out of me with this one.

That said, a link would be helpful, or is this a Google homework assignment?

Edited March 2, 2015 by WinnieTheKhwai

[Dante99]

I can't own land so it looks like they won't be getting money out of me with this one.

So you do not think your landlord would pass the tax on to you by increasing your rent? It is what landlords usually do.

Anyway this whole issue is most likely a non issue. It may never get passed into law, the rich control the politics, own most of the property value and they do not want to tax themselves. This tax will come into effect only after they build the high speed train from Chiang Rai to Hat Yai and two new airports in Chiang Mai.

[giibaht]

I can't own land so it looks like they won't be getting money out of me with this one.

That said, a link would be helpful, or is this a Google homework assignment?

I believe OP is referring to this land tax:

http://www.nationmultimedia.com/business/Tax-breaks-for-land-developers-in-draft-bill-30251352.html

[Puwa]

It's not clear yet how the law will take shape or when it might come into effect--and of course enforcement will be another matter altogether. I've heard a few things, such as properties valued under 2m baht possibly being exempt, and something about taxes being assessed starting 5 years after purchase.

[WinnieTheKhwai]

I can't own land so it looks like they won't be getting money out of me with this one.

So you do not think your landlord would pass the tax on to you by increasing your rent? It is what landlords usually do.

Possibly.. Anyway I did some Googling and it seems this tax would be 0.1% per year on the appraised value of a residential property.

Corruption in appraisals will of course be rife; that should be fun. Not to mention the huge task of appraising property.

But for argument's sake, suppose I rent a 3 million baht home (seems a fair average for Chiang Mai), that would result in a 3000 Baht tax anually. Divided over 12 months rent that's 250 Baht to add; doesn't seem like the end of the world, all things considered.

Although it may of course serve as a 'trigger' for landlords to want to discuss rents.

[Dante99]

I can't own land so it looks like they won't be getting money out of me with this one.

So you do not think your landlord would pass the tax on to you by increasing your rent? It is what landlords usually do.

But for argument's sake, suppose I rent a 3 million baht home (seems a fair average for Chiang Mai), that would result in a 3000 Baht tax anually. Divided over 12 months rent that's 250 Baht to add; doesn't seem like the end of the world, all things considered.

Yes, much ado about nothing, or almost nothing, again.

The big deal would be the Estate/Inheritance Tax proposal which was initially connected with the Property Tax proposal but seems now to have been separated or dropped.

Edited March 2, 2015 by Dante99

[worgeordie]

Yes,I can see it been implemented,the Government needs to increase its revenue,

and this tax and an increase in VAT would provide them more cash to try and pay

off the debit caused by the last Government,also to waste it on more help for

the rice growers,rubber tappers,shrimp farmers,Cassava growers,ect.

Governments are always looking for ways to raise more taxes,and if they take

ideas on taxes from the West, there will be nothing safe from been taxed.

regards Worgeordie

[cmboy]

I can't own land so it looks like they won't be getting money out of me with this one.

So you do not think your landlord would pass the tax on to you by increasing your rent? It is what landlords usually do.

Possibly.. Anyway I did some Googling and it seems this tax would be 0.1% per year on the appraised value of a residential property.

Corruption in appraisals will of course be rife; that should be fun. Not to mention the huge task of appraising property.

But for argument's sake, suppose I rent a 3 million baht home (seems a fair average for Chiang Mai), that would result in a 3000 Baht tax anually. Divided over 12 months rent that's 250 Baht to add; doesn't seem like the end of the world, all things considered.

Although it may of course serve as a 'trigger' for landlords to want to discuss rents.

Residential purpose 0.5%, Commercial purpose 2% and Unutilized land 4%

Edited March 2, 2015 by cmboy

[Jai Dee]

This topic is running in the News Forum here.

[eyecatcher]

I pay an annual building tax of around 9000bt. Thatd based apparently on the rental income of the landlord.

After my sob storey to him about how badly we are doing and cannot afford staff (to retain the business rent at my 2010 rate) he folloes up by telling me that he informed the tax office that our rent is even lower so we get a lower building tax charge.

Win win for both of us.

...but very annoyed I didnt pick up on the cheating tax evading landlord from day one because i wouldnt have accepted this extra annual charge.

[bangmai]

that lease tax has been around at least 9 years....and I was warned about, when I bought my house with the attorney. She was able to convince them that my rent was 1300 thb per month for a house in BWT, so it would have been 12% +/-, or about 2000 THB per year, which I really didn't want to pile up...realistically, the rent would have been 10,000 per month..and then it becomes somewhat more than a nice computer or TV every year.

[onthedarkside]

This topic is running in the News Forum here.

Might as well close this one....

//CLOSED//