@Bob *********

And that is the only thing which has changed, so I'd guess 99% of expats living in Thailand are completely unaffected. Hopefully they'll go after the digital nomads who live in Thailand on a variety of visas keeping their money offshore. Retirees not affected at all

@John *********

I do know that for most Countries if you leave the UK the pension is frozen with no annual CPI increases, which in my mind seems a little unfair. I don't know much about the UK system, but my understanding is that it's a contributory scheme whereby you pay a percentage of your salary into National Insurance which safeguards your age pension. It's not a government handout, it's actually something you contribute towards. I'm sure over the years, the percentage levy on your pay has increased, so using base logic, shouldn't a percentage increase when they are returning the money to you also apply? What difference does it make where you are living? I have friends in Australia who are also in this situation. To me it seems highly irregular to say the least

@Peter ******

Well that makes sense. So Jontiem doesn't have an air conditioned building? That's no good

@Tom ********

Yes, but again it's trying to put fear into pensioners, implying that pensions will be taxed, and they won't be. The best information on the revenue department is from their own website

@Trevor ********

Is it income? The way I see it is it's liquidation of an asset. You own the asset, so you own the money, which become savings. Whatever the Facebook experts are saying, savings cannot be taxed

@John *********

I've only looked at the DTAs with Australia, NZ, Canada, US and Germany, and they're all virtually identical in that tax is payable only in the original country. I'm surprised if you say UK is different, but UK is quite well known for not looking after its pensioners! 🤣

@Peter ******

The OP doesn't say where he is, but in Bangkok you make an appointment, visit an air conditioned office and are in and out in 30-45 minutes. Maybe that's why I struggle to understand how anyone would want to pay thousands of baht to avoid this

@Peter *******

Exactly. The rules pertaining to payment of taxes are quite straightforward, especially for retired expats, but FB and the constant barrage of ads from financial advisors trying to generate fear and touting for business has made people believe it's all very complex, which it isn't

@John *********

That's what I'm talking about. I have a private pension fund which pays me a monthly amount far in excess of the 65k so I know I won't be paying any tax, and from advice received from Treasury via my lady, as I don't have any declarable income, I don't even have to file a tax return (although I do one in Australia as I'm still a tax resident there, and get income from property and shares)

@John *********

For Australian and US pensions they are specifically mentioned in the DTAs as being taxable only in the country in which they're paid. Very cut and dried. Tax credits don't even come into the equation.