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Michael ******
This is a summary of
Michael ******
's contributions to the platform. They have posed 12 questions and added 765 comments.

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COMMENTS

Michael *******
@Graham *****
that’s what the banks quote, and their law is what matters - very hard to open a bank account anywhere in the world now without resident status - spent last five years having my accounts in Dubai, HK and South Africa closed….they say it’s due to Money Laundering legislation but that can’t of course be the case here 🙂
Michael *******
Sure has, a tax resident (someone who spends 180 days in a calendar year here) is obligated to complete a tax return in Thailand , taxes paid in AU are offset against any Thai tax, usually a wash however, if you are not currently paying tax in AU, stay there or seek advice…
Michael *******
Depends on your visa, if you are on a tourist visa, by law they cannot open an account for you , you need to be resident.
Michael *******
If you pay tax on your income in Australia, you will get a credit ( under the DTA) against tax due for remittances you make to Thailand to live on - earnings/savings prior to 2024 will also not be taxed here , ie if you remit funds for your retirement visa or to buy a property.
Michael *******
dealt with tax issues continuously, I was quiet pleased to be able to retire in a country where tax residency was not an issue, that bubble soon burst…..but I think with DTA’s in place it will be a wash, already got my tax Reg number and spent some time with local tax office - keeps the mind active…..
Michael *******
Having lived in 8 countries during my career and dealth
Michael *******
@Greg *******
not if it was earned pre 2024 as I understand it, how long that window is open remains to be seen.
Michael *******
Why ? Retirement is a known product, this could evolve into all kinds of diff things - if it’s too good to be true, it normally is 🤔