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Colin ******
This is a summary of
Colin ******
's contributions to the platform. They have posed 4 questions and added 179 comments.

QUESTIONS

COMMENTS

Colin *******
@Owen *******
the changes were indeed published in the gazette last year. The second one in November excluded capital assets at
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/2024 from being taxed.
Colin *******
@Paul ******
up until now. Thailand received the first data feed in Oct 2023 under the CRS. They are now a fully paid up member of the CRS whereby 130 odd countries AUTOMATICALLY share all financial data. Forget last year, the fiscal situation in Thailand has now changed.
Colin *******
@Charles *******
this is a very questionable statement. Do you have any link to the ATO and Thai revenue to support your claim? I think you are mistaken but happy to be corrected.
Colin *******
@David *******
David are you referring to federal / state pensions or private superannuation?
Colin *******
@David *******
David, the DTA between Australia and Thailand. If the number of pages are more than you can count maybe you have looked at a different DTA, as the Aus one is pretty light and explains who has the right to tax what. It's not that complex is it?
Colin *******
@Terary *********
well if you are asking about the age pension, then yes we do know. Firstly it is tax assessable income in Australia. Check the ATO web site. And if you bring the money into Thailand it is tax assessable income in Thailand. All pretty basic and straightforward. Please don't follow the keyboard warriors that sow confusion.
Colin *******
@Jared *********
but you don't know that, do you? You can jump to conclusions after making assumptions for sure, but that is all you are doing. Who would have thought, a year ago, that a 5 year visa could be obtained with no medical requirements? Who would have thought same visa with zero reporting requirements. And just over half the funds needed for a retire visa, and not even in a Thai bank. It goes on. So yes it is unprecedented to say the least. In fact it turns previous assumptions about Thai visas 180 degrees on its head.
Colin *******
@Paul *******
Paul in a way he may be correct and just giving you the noddy answer based on a need to know and easy to explain. How could he be right - well if he has actually analysed your total income from a Thai perspective assuming you are bringing the funds into the country, then maybe the UK tax load is higher than Thailand. Is so, the UK tax can be offset against the Thai tax and there could be zero Thai tax to pay. If the Thai tax was higher then you would have to pay the difference to Thai revenue. That's how nearly all DTA's work.
Colin *******
@Paul *******
then your accountant is really not up to speed. Suggest you get one that actually understands international tax rules. Would you care to name your accountant so others may be informed?