kuma

Yup, Bob is a walker, no doubt.

Chance here to make a plug for people that know agencies that put in decent effort. I have always used agents back home and had one in particular, who I partnered with for 17 years - who was very diligent and put in maximum effort on every transaction (sales, rentals) and as such she was a top 2% realtor in Canada, with re-max, so no slouch to get in that rarefied air. Perhaps that is my trouble, I was maybe spoiled by her professionalism, and cannot bring myself to pay more here, for what on average, is far far less service.

I am looking at listing as a freelancer, whats to lose - I am not in a big rush and I just cannot countenance a 70% increase in cost - I dont see the value proposition.

Much of this resonates. It seems there is very little in terms of effort expended, yet the 3 to 5% fee increase is a 70%!! increase in costs - amazing. I too have used agents back in NA to manage my properties that I rented, and then to sell them. Indeed they do quite a bit of work and there is effort expended - and the rate is most times split between two agents (not really the case here) and is lower as well as graduated based on selling price, as per examples below: In the Greater Victoria Region, the commission rates for both buyer and seller agents are 3% on the first $100,000 of the home price and 1.5% on the remaining total. In Kelowna, buyer and seller agents charge 3.5% on the first $100,000 of the home price and 1.75% on the remaining total. In Nanaimo, the commission rates of both buyer and seller agents are 3.5% on the first $100,000 of the home price and 1.5% of the remaining total. In White Rock, the realtor commissions are 3.5% on the first $100,000 of the home price and 1.25% on the remaining total. OP above mentioned how the standard here is take some photos, post to FB and wait for a buyer to appear. The suggestions of graduated commission on price, payment based on time scale, all seem to be interesting and have a merit based approach as part of the deal. Not sure that is something that is of interest in this market.

Happy holidays: What experience have members had with Sales Agents and the % fee they charge for selling your home / condo? My understanding is that 3% is the norm, that for sure has been my experience for a long time now. Some people are telling me there are agents now asking for 5%, which would be a 67% increase in fees....what is that!? Have any others run into this? Cheers

IMO the % of tax is under no obligation to increase to the levels in the "corrupted west", governments which,which use the tax base now to grift from and support their favourite causes, from which they also grift from. The Thai people are a very cohesive nation and also compromised of very rugged, self reliant, individual/family minded people and they should keep their government minimal and continue the self reliance - as opposed to the increasingly hope less populations in the cw, that now seem to only know how to use narrative to defect any and all responsibility off their shoulders, with hands out non stop and looking around bewildered, wondering why government does not take care of absolutely everything in their lives ....ok rant off The direct taxation of revenue of in excess of 35% in the cw, is NOT A GOAL to attain, it is a scourge to be avoided. I hope the Thai nation/civilization reach that same conclusion. Happy holidays

If you stay more than 180 days in a calendar year you are a deemed tax resident, it matters not whether you import funds during that period

And the questions keep piling up. In my case, if I transfer foreign currency here, it is held in an escrow account and the only way I can use it is to convert it to THB and deposit it to my account. I can take up to two years to decide when I want to convert it - but I cannot transfer it back out, it must be converted. I use that as a way to keep a reserve and take advantage of favourable currency swings when/if they occur - with the funds here I can convert it in under two minutes. But now I wonder what the PTB are going to deem as funds transferred to Thailand,.....

Thanks for that, very interesting. I cant remember last time I ever looked at a statement, now will for sure and see if the last conversion I did was treated as such. So does it mean that if you bring some other currency here before Jan 1, you also need to convert it to THB prior to Jan 1, or it will be considered an FTT when one decides to convert it - for the purposes of this new tax regime? Depending on the currency, this month not maybe the best time to convert....

you are sure throwing rocks from a glass house...maybe the one above? Your inane banter on this thread makes me think you are one of the cyclist types that always triggers other road users into wanting to run them down, lol. If you think you are contributing some gold to the thread, uh no...imo. enjoy the evening

The 'process' is not a bug its a feature, imo. They save untold millions on consultants and 1000, nay 1,000,000s of hours of effort (net of work to analyze all the input), system wide, by throwing out these policies, partially conceived, to the populace - then sit back and scoop absolutely tons of free input, from so many perspectives. It actually allows for low cost lobbying to occur, as all this feedback is grass roots generated and - using this forum as an example (NOT saying they would refer to this forum, but they are getting loads of input from affected Nationals, etc, online) virtually free for individuals to raise a voice. So flipping it on its head, this is a more democratic and equal method for people to have their voices heard - as opposed to say the absolutely corrupted lobbyist models that exist in much of the world...where special interests w deep pockets and few morals have a stranglehold on how policy will be formed.

In an earlier time, I would not even have bothered to mention it - but this world has fallen so precipitously that I can very easily seeing that being made a condition. They are free to do so if they so if desired - it would be an error imo but that is hardly considered as a factor anymore.

One that i wonder about is if the funds transferred have to be converted from USD/GBP/EUR etc to THB before Jan 1 as well? I usually bring funds here and they can sit in an account until such time as I want to convert - up to two years. I hope thoise funds are considered already here" and not treated as not yet landed since they have not been converted....

As was mentioned much earlier in the thread by an OP, this could cut the legs out from under the property market, as foreign buyers would have to pay tax on funds imported to buy a condo...that is a large and politically powerful constituency that cannot be too thrilled with this idea

Too much account juggling for me but it is a reasonable plan.,except there are no details in stone yet about what the plan is so it could all be for naught. Hope it works out for you. I am not going to set up more accounts just to navigate all this - the hassle of account opening can be even worse. See what 2024 brings. Cheers

https://www.rd.go.th/fileadmin/user_upload/kormor/newlaw/dn162A.pdf In Thai so get a friend to help you if required.

Thailand | Tax & Legal | 24 November 2023 TAX Alert Foreign source income Tax Update under The Revenue Department's Instruction No. Paw.162/2566 ("Paw. 162") In September, TRD released Paw.161, indicating its intention to impose Personal Income Tax (PIT) on foreign-sourced income, generated in any calendar tax year, and brought into Thailand from calendar tax year 2024 onward. However, with the introduction of Paw.162, TRD has reevaluated its previous position presented in Paw.161. The revised focus is on collecting taxes from foreign-sourced income generated on or after January 1, 2024. Given this change, taxpayers need to engage in careful planning, including determining whether the income meets the definition of assessable income subject to Thai taxation, deciding when to bring in foreign-source income, and developing strategies to distinguish between income generated before and after January 1, 2024

So lol most of the shares I hold are under water rn, does that mean I can claim the loss and get a refund with this new proposed tax regimen? Or is it a case of 'we are interested in your gains not your losses, you get to keep those'?

What document did you refer to to come up with 21,500thb of tax on 600K of inward remittance? Cheers

being frustrated by a "potentially" impactful change in financial status, on Dec 7, when the change is due to implement on Jan 1, is not being unreasonable, imo. Wait for official advice...? there are only 16 working days left before this comes into effect and people need time to absorb it, understand impact, discover alternatives, make choices and then implement decisions....what is your turn around on that? What is the timing you need to understand from the RD what are the ROTR, and accomplish those tasks? If you can do it in a meaningful way in the days left in 2023, then I suspect a lot of companies may be interested in your skill set - or if its just that you are not cognizant of the steps, then well they would'nt be. A thinking person with options has a lot to get thru once the policy is formulated and delivered, in detail.

Good point. I guess in 2024, if the new regs are too unfavourable, one has the option to get out by June 28ish and chill somewhere else for 6 months, whether one can or not is a very individual decision.

I wonder if the actual legislation will also exempy cap gains taxes...ie are they trying to replicate (as much as possible) the tax regimes of countries they sign DTA with? Or are they looking for pools of income that they can tax - claiming that since your country does not tax you , we will? If there is to be an increase in tax like ths, there has to be additional services/privileges offered to long term residents, not just here pay more, everything else is static...imo

I have tried contacting them in a few provinces to get some more details, but response has been scant. We found some online content where people were discussing the implications, I will post it if I can get the link again (in Thai) but it also left many questions unanswered. It is a significant topic and the rollout is lacking - so hopefully there will be some more time added to the clock to get things better sorted. But this has got me off my butt and made a visit to Cambodia, next up is Laos then Vietnam...they are spots I used to visit more frequently and its about time I did again any way. Siem Reap has certainly changed in the past 13 years. Perhaps one of them have a similar program and there can find out how it works in those jurisdictions, among other things.

Wow, the sports league with some of the most entertaining content,never gets any love. Lol, an all Canadian outcome really.

So GC110 is on next Sunday (19th) Does anyone know of any places that will have a gathering to see the game? Cheers Winnipeg Blue Bombers vs Montreal Alouettes, first meeting between these two teams in Grey Cup history, imagine that.