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Answered3 years ago

Will transferring 800k THB from Australia to Thailand be taxed, and can it be transferred back later?

John *******
asked Jan 22, 2024
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Hi all, a quick one. 1) If i transfer 800k into my Thai bank account from my AU account is it going to be taxed in Thailand? 2) Can I transfer these money back into my AU bank let’s say a year later?

Thanks
Answer summary
The initial query addressed whether transferring 800,000 THB into a Thai bank account from Australia would incur taxes in Thailand, and if the funds could later be transferred back to Australia. Responses confirmed that the transfer itself would not be taxed, but some noted potential withholding tax on interest earned. To maintain visa status (likely a retirement or long-stay visa), the funds must remain in Thailand. Users suggested keeping transaction records to ensure compliance with regulations, and highlighted that refunds for withholding taxes may be possible under certain conditions.
78 repliesnewest first
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Chris ***********
Chris ***********
What’s the FD rate?
Kevin *********
Kevin *********
Apply for an O-A VISA no 800,000 THB needed
Nick ************
Nick ************
If you send money back to the UK the Inland Revenue might well want to know how you came by it.
Simon ********
Simon ********
The interest that the 800K earns is taxed (10% witholding tax, if I remember correctly) but you can get that tax refunded by eRevenue.
Graham *******
Graham *******
@Simon *******
Under what circumstances can u reclaim the withholding tax?
Simon ********
Simon ********
@Graham ******
you go to your bank once a year ( now to April us best), get a statement of witholding tax that they have deducted from your account(s). Thake that to eRevenue office at your Amperg , they’ll give you a tax file number and after a few weeks you get a cheque in the post, refunding the tax.
Simon ********
Simon ********
@Graham ******
I’m claiming tax back on three accounts, a few thousand. What do you mean by “I think u (sic) are full of it” ? I don’t follow you.
Graham *******
Graham *******
Simon Morris but i am resident for tax so which should i get a refund. i think u are full of it. The tax would be 700B, 20 quid, if u want to claim that back u must be desparate.
Simon ********
Simon ********
@Graham ******
because they comply with the law.
Graham *******
Graham *******
@Simon *******
why should they refund the tax, i live in Thailand?
John *******
John *******
OP
Thank you all guys 👍
Markiv *********
Markiv *********
Whatever you transfer from your country to Thailand, keep the official records, proof, when time comes you can prove that the money has been sent from overseas to Thailand and the same can send it back from Thailand to overseas 
Michael ********
Michael ********
What about OA visa if you want to leave money in AU bank
Graham ******
Graham ******
@Michael *******
You only need the 800k in a Thai account for a 12 month extension of a Non-OA but a border bounce near it's expiry also gets you a 12 month stamp if you have the insurance
John *******
John *******
@Graham *****
border bounce?
Graham ******
Graham ******
@John ******
Leave Thailand for another country and re-enter to get a new entry stamp
Michael ********
Michael ********
@Graham *****
yes you can get nearly two years out of it.
Graham *******
Graham *******
The answer to that is, at this moment, no one is sure of anything. In theory yes it will be taxed in some form. You must maintain the 800k to keep the visa running.
Steve ********
Steve ********
@Graham ******
Don't talk rubbish. It won't be taxed
Graham *******
Graham *******
@Steve *******
Remittances into Thailand will be taxed in 2024 under new regulations. Currently, exactly which remittances will be exempt is unclear, remit at your own risk until things become clear.
Reluctant *******
Reluctant *******
@Graham ******
lol so wealthy but so obsessed with trolling about some silly taxes. We exptas with real incomes, retirement or otherwise, don't give a flip even if we have to pay a small tax. It is you broke dick expats who have to cheat just to get a Non-O visa for retirement that pisses and moans about some silly taxes. If you can't afford the taxes then go the f home.
Reluctant *******
Reluctant *******
@Graham ******
I can go online to many Thai legal and accounting websites and find even more illegal and outdated information. How about a link from the Thai government proving any new laws or regulations have actually been put into effect?
Wayne *****
Wayne *****
@Steve *******
💯 correct.
Steve ********
Steve ********
@Wayne ****
I think you've picked him in one! He believes a private tax consultant who is spreading the fear in the hope to pick up customers! The length these scammers will go to. But there's so many gullible people out there ready to believe anyone wearing a suit!
Wayne *****
Wayne *****
@Graham ******
The world is full of gullible insecure people. Sounds like your the leader of the band 😄
Graham *******
Graham *******
@Wayne ****
its not my material, it is from a CPA who did a seminar for the Pattaya expat club it was attended by about 100 people, no one considered it "crap". if u do not want to hear the opinions of others i am pretty sure they could not care less.
Steve ********
Steve ********
@Graham ******
Your pension! It's a cackle!! 🤣🤣🤣
Graham *******
Graham *******
@Steve *******
what is 203 a week?
Steve ********
Steve ********
@Graham ******
I just looked it up. £203 a week! OMG! That's about 9000 Baht. No wonder you're so upset!!
Graham *******
Graham *******
@Steve *******
most likely Australia also I am afraid, the cpa thinks so, only USA social security cannot be taxed, the rest can be. I do not get any pensions from anywhere I have been an expat all my working life and also freelance in Germany where i am not required to make social security contributions as a freelancer. Instead, i saved the money and invested it. Most of my Investments are land in Belize central america who do not have any dta with anyone but do not have a capital gains tax, if i was in TH for 180 days then i would have to pay tax on the capital gain portion but since i will not be here all year I will continue my tax free life.🥳🥳😆🥳😆
Wayne *****
Wayne *****
@Graham ******
and mate also please stop sending me your crap promotional material. I have no time for idiots.
Steve ********
Steve ********
@Graham ******
I think it's your keyboard that's stuck. I'm sorry for you poor English, with your second-rate pensions. Hopefully Thailand will tax your pensions because your government didn't safeguard them with the DTA! I've just looked at it, and you're right, the Brits WILL be taxed!! 🤣🤣🤣🤣
Graham *******
Graham *******
is you keyboard ok u seem to have a stuck key
Steve ********
Steve ********
Graham *******
Graham *******
Steve ********
Steve ********
Graham *******
Graham *******
@Steve *******
no, and the main issue will not go away even though u want it to.
Steve ********
Steve ********
@Graham ******
Go away 🤣🤣🤣🤣
Graham *******
Graham *******
@Steve *******
its not mine, I am no a CPA. if u are not interested, why do you keep responding with probably untruths?
Steve ********
Steve ********
@Graham ******
Please do NOT send me any of your promotional rubbish. I'm not interested in what you want to promote. Everything you say here is nonsense. NO INTEREST
Graham *******
Graham *******
@Steve *******
promotional material maybe but they are result of research including commic's form the revenue. My stances and that of others is the taxation of pensions is still unclear and need to be monitored. I will dm you again the full pdf. All would be wise to follow with an open mind all which comes into circulation, this will take time to resolve with certainty.
Steve ********
Steve ********
@Graham ******
That's a document from a private tax firm. I go by the actual order and by the DTA. They are instruments of law. You just cut and paste promotional material.
Graham *******
Graham *******
@Steve *******
According in CPA they are not exempt for certain.
Steve ********
Steve ********
@Graham ******
The new law doesn't affect pensions. It only affects delayed payments. It's not under any evaluation. The order has been passed. Doesn't include pensions which are exempt.
Graham *******
Graham *******
@Steve *******
this a law which came into force 1st jan 2024 and is still under evaluation by CPA not ill informed people.
Wayne *****
Wayne *****
Steve ********
Steve ********
@Graham ******
I've been in Thailand for years. Never been taxed yet. I'm protected by the DTA between Thailand and Australia. I'm laughing!
Graham *******
Graham *******
@Steve *******
i guess you won't be here then, only way.
Graham *******
Graham *******
@Wayne ****
only ignorant people are scared informed people are not, just keep running.
Steve ********
Steve ********
@Graham ******
Thank God I'm Australian! Thailand won't touch my pension! 😆
Wayne *****
Wayne *****
@Graham ******
not from me mate, I will leave all the scaremongering and bullshite to you.
Graham *******
Graham *******
@Wayne ****
Plenty more to come on this matter
Graham *******
Graham *******
Wayne *****
Wayne *****
@Graham ******
Another armchair expert wanker full of shite, spreading half truths and rumors.
Steve ********
Steve ********
@Graham ******
From the double tax agreement. Pensions get one brief mention which is quickly dismissed. I think that concludes the matter 😂
Graham *******
Graham *******
@Steve *******
show me section 40. BTW I am not going to discount it. the CPA was ex KPMG, I do consider what they say as a pretty good base line. There have been Communica's of clarification.
Steve ********
Steve ********
@Graham ******
How about the actual government order? Or are you going to discount this because a private tax consultant tells you otherwise?
Graham *******
Graham *******
@Steve *******
"investment returns" Yes he is a tax consultant touting for business, but I have read similar elsewhere, he would not get much business if he ws full of BS! You are running out of explanations/BS. Sorry to say it looks like fact. I am awaiting further clarifications.
Steve ********
Steve ********
@Graham ******
This Is from a "tax consultant" touting for business. I stick to official government documents. Doesn't mention savings does it?
Graham *******
Graham *******
@Steve *******
this is from the pdf i sent u. read it, u will see pensions are listed. if u do not believe what is written, i do not care as i said.
Steve ********
Steve ********
@Graham ******
This Is from the Thai Treasury department. Look at the eight categories of personal income and see if you can find "retirement pensions". The digital nomads who "live" in Thailand for more than 180 days on a succession of tourist visas will most certainly be targeted, make no mistake.

**************************************
Graham *******
Graham *******
@Ruth ******
i do not follow what u are saying.
Ruth *******
Ruth *******
@Graham ******
taxing money you are not permitted to spend sure would be an interesting concept
Graham *******
Graham *******
@Steve *******
u get a tax credit for any taxes paid at source. They are not after digital nomads they are after rich Thai's who have been exploiting a loop hole, this has been changed but they hve snared, maybe deliberatly every one who is in country for 183 days in an tax year, learn to live with it, but frankly I do not give a flying f*ck if u do not believe me, its beginning to sink in with most people.
Steve ********
Steve ********
@Graham ******
No need to. Pensions are taxed in the country they are paid in. The digital nomads are the targets! And rightly so too!!
Graham *******
Graham *******
@Steve *******
read the pdf i sent you. There is no exemption for retiree's but there is an additional annual allowance of 160k.
Steve ********
Steve ********
@Graham ******
Wrong. But keep on spreading the misinformation! Retirees will not be taxed, that's already a given!
Graham *******
Graham *******
@Steve *******
everything is subjedct to tax.
Graham *******
Graham *******
@Steve *******
they are going after everyone i am afraid. they really are looking for Thai tax avoidance but look like we are all caught up in th trawl. WE hope we are wrong we are just being cautious.
Graham *******
Graham *******
@Steve *******
i sent u 2 pdf, there are many grey areas.
Steve ********
Steve ********
@Graham ******
Yes thank you!

"...from employment, a business carried on overseas, or property situated overseas..."

NOTHING about savings being taxed, or pensions being taxed! 😂😂😂
Steve ********
Steve ********
@Graham ******
The 800k for immigration purposes will not be taxed. Are you another of these bar-stool experts who really believe the Thai tax department is going after retired expats? I wish you'd all give up with your nonsense. It's the digital nomads they're looking at
Graham *******
Graham *******
Reluctant Nomad
**********************************************************************
*******
/flash-alert-2023-189.html
Reluctant *******
Reluctant *******
@Graham ******
Baseless rubbish. Post a link troll.
Steve ********
Steve ********
No it won't be taxed, and yes you can transfer it back a year later.
Wayne *********
Wayne *********
@Steve *******
hopefully doesn't need it to extend a visa :)
Bernie *************
Bernie *************
@Wayne ********
overstay fine
Steve ********
Steve ********
@Wayne ********
I thought that, but maybe he's just after a 12-month stay

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