If its held as fiat assets in an account its savings.. If its an investment, pension, annuity, bond, debenture, etc its not.. The revenue code is very specific about pensions being income.

Your just being vague to give yourself wiggle room but disbursements from pensions, including Aus super are legally income at time of payout.

@Jim *******

pension disbursements are defined as current income NOT savings.

Thai Tax code Chapter 3 section 40.

license doesnt need any visa..

Bank accounts can be tricky.. I opened one but there were special circumstances (and I hold many other accounts in other banks).

@Jim *******

anything in a pension pot is not 'savings' as you are classing it.. Pension disbursements are taxable income under the Thai tax code. 100% and crystal clear. Calling a super 'savings' is simply not legal reality.

"Income derived from employment, whether in the form of salary, wage, per diem, bonus, bounty, gratuity, pension, house rent allowance, monetary value of rent-free residence provided by an employer, payment of debt liability of an employee made by an employer, or any money, property or benefit derived from employment."

@Jim *******

If >180 days you are ALSO resident in Thailand..

As to the savings aspect theres a youtube discussion on this.. When the clarification that savings prior to jan 1 were exempted the determination was that was fiat / cash based savings.. Anything else stocks / shares / bonds / pensions / precious metals etc not.. As they would have capital appreciation.

Pension plans are not the form of savings that are exempted, as the clarity from the Australian tax team clearly state and as the Thai tax code also clearly indicates where it shows pensions as a form of income subject to taxation. This shows how pensions are not 'savings'.

(1) Income derived from employment, whether in the form of salary, wage, per diem, bonus, bounty, gratuity, pension, house rent allowance, monetary value of rent-free residence provided by an employer, payment of debt liability of an employee made by an employer, or any money, property or benefit derived from employment.4

For people whose pensions are taxed at source they generally have DTA protections but for tax free disbursements such as super or pensions untaxed based on non residence claims in the payout country that protection is not there.

also as well as a more lawyer style bookeeping service one and that pascal guy whose done multiple youtbe interviews on tax..

and you know.. Australian tax office ministerial team..

And yes savings (thats cash in a bank not invested pensions) are exempted.. Investments are not.

@Roger **********

That he remits to Thailand only (currently, there is talk of worldwide income)

@Jim *******

Yes saved funds (not investments or pensions) owned prior to jan 1 can be brought in without liability.

Another thing we dont know is how they may treat comingled assets, I am keeping a seperate pot for exactly that reason.

The claim that Oz tax residency trumps Thai residency somehow is vague and not how dual claims work. Thailand has absolute right to impose its rules if you are here 180 days, Oz's 'sole taxation' claim may have first claim but untaxed funds (as super is) then can be taxed by the other as they are not being double taxed.

Anonymous participant Can they monitor ATM use ?? Likely not initially tho they have signed up to FATCA and other banking data sharing info.

For the 'men of straw' who can just leave at the drop of a hat then the risk is low, for those of us with lives, assets, houses, vehicles etc.. Then the risk of trying to avoid a couple of grand USD in tax annually v the potential for claims against those assets is a different set of choices.

But then theres plenty of other careful options.. You can gift your spouse 20 mil a year tax free, so then the day to day running of the household can be her task.. If you import a few 100k for visible personal spending the bill becomes very manageable. But everyone should have a plan.

But here it is from another this time australian source, for those tax resident over 180 days.