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BANGKOK 19 May 2019 22:12

thelovedone

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About thelovedone

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  1. I have no ATO document stating what you refer to. But on lodging my return ,i was advised by my acccountant that based on my residential circumstances and the fact that worked in Thailand. That i would be considered as a non resident under the ATO domicile test. That status has some pros and cons. Downside i already mentioned. Upside was no payment of a Medicare levy and my Thai income was not subject to Austrailan taxation. If i was an Australian tax resident then my Thai income would be subject to Australian tax. So i accepted the advice of my long time accountant. And although i got hammered on the capital gains tax, self declaring as a non resident was the least complicated option. I sold the property before consulting with my accountant regarding CGT implications...... so my bad.
  2. I am also classed as non- resident for tax purposes. Below are three tax laws that affected me were. 1.Sold an investment property in Australia- Result: No 50 % capital gains deduction is allowed. I was taxed on 100% of the capital gains. Ouch... didnt see that one coming! 2. No tax free threshold applied on any Australian income. Result: 100% of income subject to income tax. In my case i receive rental income. 3. Savings in Australian banks. Result: Interest paid on savings attract a 10% witholding tax.
  3. 41 minutes ago, thelovedone said:  My visa is a Non O retirement visa.  I also have a Social Security Office health care card for free treatment in the Thaii hospital system. Curious if people in my position will now be required to have additional insurance?  My contribution whilst working was 750 Baht per month. However im not aware that the SS health card has a scale of benefits coverage dependant on contributions. My understanding is that the health care benefit is free hospital inpatient and outpatient cover for those who pay the applicable contributions.
  4. My visa is a Non O retirement visa. I also have a Social Security Office health care card for free treatment in the Thaii hospital system. Curious if people in my position will now be required to have additional insurance?
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