A combination of both. In Thailand, $27,000 per/year and $12,000 super All and some funds ib ING bank in Australia giving 5.5% interest P/Y. All tax free.
NO if you get a Thai visa for 60 days you need to be gone by 12 midnight the previous day on the last day of 60 days of your visa. a 60-day visa is really only good for 59 days. If you get a visa that expires on a certain day you must depart by 12 midnight the previous day you cannot remain in Thailand for the day expiry and that is 60 days on the day it says or pay an overstay fine Yes a trap for young players, only in Thailand do they expect you to go one second before t midnight on the previous day they say it expired. That is 1 second after midnight...TIT
...Clearly you know very little about the Australian Aged Pension (AAP). Everyone in Australia is required by law to direct their boss to now invest an amount over their salary of about 10%, it is like a tax you have no say in it. But it must be in a government-approved investment fund, bank etc. if you earn $1000 a week your boss must pay about $100 into a retirement fund which becomes yours. All tax-free. You can claim this amount when you reach 59y/o soon 60 y/o if enough, you can retire on it, the choice is yours. You can put in an allocated pension or take the lot as you wish. At this stage all is tax-free. You can just leave it there in the fund, it is really just the same as having money in a savings account at a bank, it is yours. When you get to 67 y/o, or 60 Y/O for returned services provided you have lived in Aus for 35 years between 16 y/o and 67 Y/o you will then be entitled to the AAP you can claim in addition you already receive an allocated pension $1116.30 per fortnight. As a single recipient of this amount and provided your private assets do not exceed the Centrelink govt service requirements of about $545,000 you will retain this payment and still enjoy your pension. In general terms, every Australian can likely have a pension of about $45,000 per year and provided their assets are under the threshold, pay no income tax whatsoever That is about my position and several million other Australian pensioners. The $1116.30n is not taxed nor in my case, $12,000 is not taxed as it is under the threshold. The tax threshold is higher for pensioners in Australia. I have skipped over this a bit and about 10% of people their assetsthreshold is too high and they have to spend their allocated pension mentioned till that reduces to $545,000. Over this amount, you lose 50 cents in the dollar till it stops. The threshold goes up for married people. My information applies mostly to a single AAP recipient with assets under $545,000. If living in Thailand after 6 weeks your $1116.30 p/f reduces by about $80 per fortnight.
I usually go to Thailand from Perth Aus on Scoot $440 this time. return I have a bag which has wheels and when full is within 10 kg. allowance. It has an extendable handle and fits the requirements for cabin luggage. It cost $25 from K-Mart Australia. It holds everything I need including my laptop. I always wear cargo trousers and shirts with plenty of pockets and a lightweight tropical coat. on a plane Usually, I'm through Immigration in 20 mins.
These tax agreements are very complicated documents, Yes that is why Thai tax experts have not got a clue. I have been perusing the Australia/Thai agreements for years now and still have not got a clue either, there are more pages than I can count. I now know how much I don't know and I don't think the Thai Government does not have a clue either. Only time will tell? There is likely hundreds of thousand in the same boat.
Yes Phil that is true but only if you are above the tax threshold. My AAP will be $27,000P/Y if living in Thailand and $12,000 from my retirement super. All are tax-free in Aus. That is below the tax-free threshold. All Australians are entitled to this situation all tax free.
I do own a house and my super is invested in Australia. and I know I do not pay tax in Aus am not liable in Thailand? which suggests just a bit lower than $1000P/M or about $11,000 per year. I would not consider going the Thailand for more than 179 days. I have been there many times on both retirement visas and tourist 90-day visas. I will only go to Thailand for 179 days in a year but I think somewhere I will be exempt from paying tax. If I go for more than 179. days. In Australia my pension is made up of an Australian Aged Pension(AAP) and Super managed through a bank neither is taxed as I am under the tax threshold in Aus.