the gentleman Posted April 12, 2004 Share Posted April 12, 2004 As with a few people on this forum, I have made more money here, than I brought into the country - does anyone have a legal way of taking more out, than you came in with? Also... I have heard that if you have been out of Australia for more than 5 years, you are classed as an expat??, with that, I have heard that after you have gained expat status, as long as you stay out of Aus for 200 days a year, you do not pay tax on what you bring in? Has anybody had experience in this - any ideas/info appreciated. Link to comment Share on other sites More sharing options...
TizMe Posted April 12, 2004 Share Posted April 12, 2004 As with a few people on this forum, I have made more money here, than I brought into the country - does anyone have a legal way of taking more out, than you came in with?Also... I have heard that if you have been out of Australia for more than 5 years, you are classed as an expat??, with that, I have heard that after you have gained expat status, as long as you stay out of Aus for 200 days a year, you do not pay tax on what you bring in? Has anybody had experience in this - any ideas/info appreciated. There is no tax on importing money earned outside the country. You just have to declare it to customs if you take it in. They will only tax you on money that you earnt outside Oz if they declare you a "resident for taxation". If they do this they will tax you on every dollar that you earnt not what you decide to take back in to Oz. (there are some credit given if you pay tax in your country of residence, but I'm not sure of this part as it doesn't apply to me) 5 years has nothing to do with anything. The first year that I left Oz I had the Tax Office declare me a "non-resident" for tax purposes. Link to comment Share on other sites More sharing options...
TizMe Posted April 12, 2004 Share Posted April 12, 2004 Taxation of Individuals On 1 July 2000, significant reductions in personal income taxes, worth around $12 billion a year came into effect. Residence An individual is resident in Australia if they 'reside' here, which is essentially a question of fact and circumstances, or if they satisfy any of the following three statutory tests: Domicile test - an individual will be a resident if their domicile is in Australia, unless the Commissioner is satisfied that his/her permanent place of abode is outside Australia; 183 day test - an individual will be a resident if he/she has spent a total of more than 183 days in a year in Australia, unless the Commissioner is satisfied that his/her usual place of abode is elsewhere, and that he/she does not intend to take up residence in Australia; or Commonwealth superannuation test - an individual is a resident under this test if he/she is a contributing member (or is the spouse or child under 16 of a contributing member) of the superannuation fund for Commonwealth government officers. Personal income tax scale resident Personal Tax Scales (resident for full year) Income ($) Tax rate (%) 1 - 6,000 0 6,000 - 21,600 17 21,600 - 52,000 30 52,000 - 62,500 42 62,500 + 49 Personal income tax scale non-resident Personal Tax Scales (non-resident for full year) Income ($) Tax rate (%) 1 - 21,600 29 21,600 - 52,000 30 52,000 - 62,500 42 62,500 + 47 Medicare levy Residents may also be required to pay a Medicare levy of 1.5 per cent of taxable income. Depending on the level of taxable income, a surcharge of one per cent may apply if the individual does not have private health insurance. Link to comment Share on other sites More sharing options...
the gentleman Posted April 12, 2004 Author Share Posted April 12, 2004 thanks heaps Tiz , a great result, its sounds like 6 months here and 6 there then. Link to comment Share on other sites More sharing options...
TizMe Posted April 13, 2004 Share Posted April 13, 2004 Gent, Other expats that I know have run into the problem of being declared a resident even though they have remained outside the country for more than 6 months. The main reason that they ran into problems was that they were maintaining a home in Oz or their family was living in Oz. You need to prove that you have set up a home in Thailand and that you are just visiting when you go to Oz. Domicile test - an individual will be a resident if their domicile is in Australia, unless the Commissioner is satisfied that his/her permanent place of abode is outside Australia; I ran into a problem here in Saudi because of the above. Once my employment visa expires I have to leave the country, so it is a bit hard to say that I live here "permanently". Unless you have "permanent resident" status in Thailand then I think that the type of visa you have in Thailand may run into the same problems. Tiz. Link to comment Share on other sites More sharing options...
tuky Posted April 13, 2004 Share Posted April 13, 2004 Man that is harsh. I initially left Aust. because I could not get any work in my field and I have stayed outside because I do not want to pay tax (and there is still no work in my field, quite possibly because of the tax). So the answer is never go back? BTW I haven't earnt a cent in Aust. since '97 and I havn't lodged a tax return either, or voted or held an Aust. bank account or had a house, I did have a BMW for about 2 years and sold it with 5,000k on the clock because I never drove it (Oh I actually had that put in my mum's name). I do not have an Aust. drivers license (expired) and my passport is about to expire. Lower the tax rate and I might have been a little more loyal. Wow, looking at that list it seems only my accent os ostrarlien mate! I was working in Singas when their GST had a massive hike to 4% and there was an outcry. Aust.s came in at 10% amidst promises of lower income tax, did that happen? There are so many reasons why I will not live in Aus. One of them is that I do not think they will let me in See the Judges thread (I think it was) a while back about his mate who has big trouble entering Aus. too. Ooops, sorry guys, reading Tizme post got me fired up. I need to learnt some restraint. Link to comment Share on other sites More sharing options...
Basher Posted April 13, 2004 Share Posted April 13, 2004 thanks heaps Tiz , a great result, its sounds like 6 months here and 6 there then. But this all doesn't answer your question, How to get money out. So how do we get money out? Bash Link to comment Share on other sites More sharing options...
pnustedt Posted April 13, 2004 Share Posted April 13, 2004 But this all doesn't answer your question, How to get money out. I suppose the real answer to the question is "don't invest more money LOS than you are preapred to walk away from". I've seen this statement on so many other threads. It's true and good advice. Drip whatever you have in LOS a bit at a time. If you're thinking about going back to Oz think about investng in Oz. But is that really what you want? Link to comment Share on other sites More sharing options...
Digger Posted April 14, 2004 Share Posted April 14, 2004 As with a few people on this forum, I have made more money here, than I brought into the country - does anyone have a legal way of taking more out, than you came in with? If you have a work permit you can legally take money out of the country, however at some point you might need to indicate that it came from your salary. Also if you have Thai based credit or charge cards, you can use those abroad and thus pay the bill in Thai Baht. Same with ATM card. However the key point here is that this is for relatively small amounts - If you were looking at say 1,000,000 baht +, then its difficult. Technically you are not supposed to take it out of Thailand due to the monetary controls. If you have a company somewhere else, you can fabricate invoices from that company to yours in Thailand however if any invoice is over 10,000 US$ from memory, you need bank of Thailand approval, which is cumbersome for a small company. Also where do you send it???? Might be worth you paying for some decent advice with one of the big accounting firms tax experts to assist you. Hope this helps Link to comment Share on other sites More sharing options...
dr_Pat_Pong Posted April 14, 2004 Share Posted April 14, 2004 Man that is harsh.I initially left Aust. because I could not get any work in my field and I have stayed outside because I do not want to pay tax (and there is still no work in my field, quite possibly because of the tax). So the answer is never go back? BTW I haven't earnt a cent in Aust. since '97 and I havn't lodged a tax return either, or voted or held an Aust. bank account or had a house, I did have a BMW for about 2 years and sold it with 5,000k on the clock because I never drove it (Oh I actually had that put in my mum's name). I do not have an Aust. drivers license (expired) and my passport is about to expire. Lower the tax rate and I might have been a little more loyal. Wow, looking at that list it seems only my accent os ostrarlien mate! I was working in Singas when their GST had a massive hike to 4% and there was an outcry. Aust.s came in at 10% amidst promises of lower income tax, did that happen? There are so many reasons why I will not live in Aus. One of them is that I do not think they will let me in See the Judges thread (I think it was) a while back about his mate who has big trouble entering Aus. too. Ooops, sorry guys, reading Tizme post got me fired up. I need to learnt some restraint. Did you run out of that new medication then Leith ? Link to comment Share on other sites More sharing options...
tuky Posted April 14, 2004 Share Posted April 14, 2004 Man that is harsh.I initially left Aust. because I could not get any work in my field and I have stayed outside because I do not want to pay tax (and there is still no work in my field, quite possibly because of the tax). So the answer is never go back? BTW I haven't earnt a cent in Aust. since '97 and I havn't lodged a tax return either, or voted or held an Aust. bank account or had a house, I did have a BMW for about 2 years and sold it with 5,000k on the clock because I never drove it (Oh I actually had that put in my mum's name). I do not have an Aust. drivers license (expired) and my passport is about to expire. Lower the tax rate and I might have been a little more loyal. Wow, looking at that list it seems only my accent os ostrarlien mate! I was working in Singas when their GST had a massive hike to 4% and there was an outcry. Aust.s came in at 10% amidst promises of lower income tax, did that happen? There are so many reasons why I will not live in Aus. One of them is that I do not think they will let me in See the Judges thread (I think it was) a while back about his mate who has big trouble entering Aus. too. Ooops, sorry guys, reading Tizme post got me fired up. I need to learnt some restraint. Did you run out of that new medication then Leith ? My Aussie doctor found out I do not live there anymore and refused to supply me with a repeat Doc (who's there? why won't you answer me!!!?) My Thai Doc has suggest Beer Chang, oh I love Thailand. Everything can be repaired over a bottle of Chang! (who's that ? why won't you answer me?) can't it? Link to comment Share on other sites More sharing options...
tuky Posted April 14, 2004 Share Posted April 14, 2004 Man that is harsh.I initially left Aust. because I could not get any work in my field and I have stayed outside because I do not want to pay tax (and there is still no work in my field, quite possibly because of the tax). So the answer is never go back? BTW I haven't earnt a cent in Aust. since '97 and I havn't lodged a tax return either, or voted or held an Aust. bank account or had a house, I did have a BMW for about 2 years and sold it with 5,000k on the clock because I never drove it (Oh I actually had that put in my mum's name). I do not have an Aust. drivers license (expired) and my passport is about to expire. Lower the tax rate and I might have been a little more loyal. Wow, looking at that list it seems only my accent os ostrarlien mate! I was working in Singas when their GST had a massive hike to 4% and there was an outcry. Aust.s came in at 10% amidst promises of lower income tax, did that happen? There are so many reasons why I will not live in Aus. One of them is that I do not think they will let me in See the Judges thread (I think it was) a while back about his mate who has big trouble entering Aus. too. Ooops, sorry guys, reading Tizme post got me fired up. I need to learnt some restraint. Did you run out of that new medication then Leith ? My Aussie doctor found out I do not live there anymore and refused to supply me with a repeat Doc (who's there? why won't you answer me!!!?) My Thai Doc has suggest Beer Chang, oh I love Thailand. Everything can be repaired over a bottle of Chang! (who's that ? why won't you answer me?) can't it? вадпж, лјфы гшидаы тифш Link to comment Share on other sites More sharing options...
possom Posted April 14, 2004 Share Posted April 14, 2004 depends on the amount of money we are talking about !! Link to comment Share on other sites More sharing options...
Basher Posted April 14, 2004 Share Posted April 14, 2004 Ok say 5,000,000 baht and you could take a bit of time getting it out, how would you do it? Bash Link to comment Share on other sites More sharing options...
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