Will Australia tax my pension at 35% if I retire in Thailand?

nobody knows for sure yet. Not even tax experts in Thailand, so you have ti follow this topic close AND talk to an expert when the potiticians agree how to internet the law - and it will probably take some time.

Keep in mind tax rules and visa rules can change at any moment.

There's never been a 35% number mentioned anywhere,and it never will be.Stop reading The Thaiger, stop watching video clips on YouTube and don't listen to clueless people on social media.

And dont forget that when you leave Australia is going to tax your pension at 30%, (if you become a non tax resident of Aust), so the balance that you transfer to Thailand will be tax free as Aust has a Dual Tax Agreement with Thailand

Yeah details to come Colin but that's about correct. They joined the OECD that org that Marius Corman is chief cook n bottlewasher Formally Morrisons finance minister.👎🤣

Malaysia did similar which forced a lot of retired people to leave.

Unless Thailand starts forcing retirees to submit tax forms every year as a prerequisite to getting a Non-O extension for retirement, there is no mechanism in place for Thailand to tax retirees. Also if you only use credit card transactions and ATM withdrawals in Thailand, that is not considered repatriating money into Thailand subject to Thai taxes.

I’ve also learnt you have to be in Australia for 2 years after starting to receive the pension for it to be portable and still receive, if I have understood this right

A pension IS NOT income. Income is derived from assets or work. A pension is derived from a lifetime of effort.

Settle down boys and girls! He was only asking a question. That is what this site is supposed to be about. Transfer of ideas! We all know that in the end you have to do your own due diligence. lighten up! LIFES A BEACH.... CHILL OUT..WALK THE BEACH....GO GOLFING.... HAVE A COLD ONE BUT PLEASE (CHILL OUT)

@LTR **************************

Benefits.

Did you talk with an immigration attorney or CPA in Thailand

Thailand will only take 35% of your soul! 🤣

True. Get a professional

It’s probably not likely to be an issue for many of the reasons listed here but I retired in the region and I much prefer passing from Malaysia to Thailand and Vietnam. Dividing my time provides me with lots of variety, allows me to bypass some weather extremes and to me each of these places has their own advantages I also bypass visa issues as well.

It's all rubbish what you're hearing. Pensions will not be taxed. Enjoy yourself in Thailand and have a great time!!

By the way the law for this has been in place since January and I've not heard it being used yet .

They haven’t got the man power to collect what’s owed to them now,nobody knows but I would doubt they’ll take anything

Most Australians have bad breath therefore they deserve to be taxed up to their balls.

It is the land of rumours!

Did you hear on Facebook or in the pub? 🙈🙈🙈🙈

Read the Double Tax agreement between Australia and Thailand.

Jumping the gun nobody knows

Totally all lies

Please cite your source and provide a link to this. If it’s not from a Thai government agency then move on…

False news!!! (It's gonna be more like 55%) 🤣

You need to do your research. If you live inside Thailand for 180 days or more in a calendar year you become a tax resident. That means that any income you bring into Thailand while a tax resident is assessable for Thai tax and you need to complete a Thai tax return. However due to the dual tax agreement between Australia and Thailand any tax you've already paid on that income is credited against Thai tax and further the agreement means that pension payments made to residents of Australia are only taxable in Australia so as long as you maintain Australian residency your pension won't be affected. There's a lot more to it so best to read up on it.

If your income is taxed in Australia, this will not happen. Australia also has a double taxation agreement with Thailand. Just read the terms and conditions there. 35% tax would only be due on income of 5 million baht. 30% on 2-5 million, 25% on 1-2 million, etc. So don't let it drive you crazy. At the moment there is just a lot of hot air.

I am Canadian, Canada and Thailand have a reciprocal fiscal agreement. Income is taxed only in the country where the pension comes from, for me, in Canada. There is no double taxation. You have to do your homework and find out if there is a similar fiscal agreement between Australia and Thailand.

Also they remove one testicle

Thailand is tax free for Australians if you give the migration officer 10,000 baht at the border 😉

NOT TRUE....all you fear mongers and rumor freaks...read the f---- bill.

Not Social Security, nor Pensions etc.

Taxed on money's generated from, or while living in Thailand.

Expert on every barstool !

I would stay home, I heard a rumor the world is going to end..

so if you transfer 2 million baht for a house build you will lose 700,000 baht in tax ? 555 don't think so 🤔

As long as the money coming in has been taxed, in a country Thailand has an agreement with , then no worries .

If you become a tax resident you can be taxed on your remittances. The Thai Tax system is similar to most being progressive tax systen starting with a 0% tax bracket and ending with highest of 35% for remittances over 5 million baht pa. A Bigger worry should be if (when) the worldwide earnings become taxable and not just remittances to Thailand. In some countries like Italy the civil service pensions are tax exempt (not state pension) and you may wish to seek advice whether there are any exemptions in Thailand.

if you don t pay the tax on pension in your country and send it to thailand some money you have to pay tax in thailand but is cheaper then other countries, I paid also before the new law to avoid any problem with country of origin of pension

Once you've lived here 180 days, you are liable to tax assessment on the income you bring in to Thailand. But you can off-set tax already paid on that income. If it's just pension which is taxed at home, there's usually nothing more to pay.

But note, if you are resident in Thailand, they are considering making ALL your worldwide income taxable. However this is not currently the law, just maybe a serious proposal to watch for news on

money is only taxed if earned within Thailand, also on any interest that is gained with their Banks

Depend on income

Correct. If you retire to Thailand or anywhere overseas, you become a non-resident of Australia and you pay tax on your pension at non resident rate of 35%. Thailand may also want to tax you.

It is a bit more complex than that. Tax related things always are - especially cross border. It is true, that foreign income will be taxable. It is also true that the max possible tax rate will be at 35%. However, only money actually transferred into Thailand will be taxable. Also, it depends on many more factors, like tax treaties between the two countries. For many cases, income already taxed in one country won’t be taxed again in another country. But yes: a detailed analysis is advisable before moving.

Bullshit

89/navigating-new-foreign-income-rules

Jesus Christ, chill and do not listen to this nonsense.