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BANGKOK 23 March 2019 19:55

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Hi 

 

Just a quick question. 

 

I use the 65,000 baht per month income method to extend my 50+ (retirement) visa annually. I have always used company dividends as income which I know is acceptable to immigration. I also have a rental income from a property in the UK that I rent out. Is my rental income also an acceptable form of income to use for the 65,000 baht per month income method?

 

With respect, I would appreciate replies from those that know the answer rather than speculative comments.

 

Thanks.

Edited by somchai jones

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Yes it is. It is also how I fund myself over here. As long as the money is coming in from overseas it shouldn't matter how you earn it. 

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This will be interesting. In the many many threads where "income method" is discussed for the countries where income letter from embassies has ceased.....there is continual mention of PENSION income, social security payments etc. To me it is not clear if income from such things as rentals will be accepted by io.

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You are asking the wrong people. There is one thread quoting an IO that states Pensions only. There is another thread quoting a (different) IO that any income is fine.

 

Ask your IO.

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I dont believe immigration cares what the source of that income is, only that it is remitted here. 

However I say again, if you bring that income into Thailand in the year it is earned, and sign and prove that, you are signing and proving a tax liability. A tax liability you may well be able to sort out due to DTAs but that is down to the person, the country of source, and time incountry per year. 

the fact these liabilities have not been pursued in the past is no guarantee of the future. 

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Well, normally one would pass a lie detector test as having answered truthfully and faithfully about having income.  However, the current direction of the Thais is no matter what the income source is, one MUST make monthly deposits of at least 65,000 baht into a Thai bank account.  I myself will have income from dividends and interest, but at the moment that apparently is irrelevant to the Thais as their narrow minded approach is to simply check that one has made monthly deposits.  Now whether those deposits come from somebody simply spending down some cash holdings, borrowing, money, or whatever, in no way proves one has any sustainable future income, which was the intent of the previous laws. 

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18 minutes ago, kane666 said:

You are asking the wrong people. There is one thread quoting an IO that states Pensions only. There is another thread quoting a (different) IO that any income is fine.

 

Ask your IO.

So true. Even if there is a "correct answer" to op question, that can mean very little. It depends on the different offices and in turn different io.

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Best to visit your local TI and ask the IO there.

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Has anyone considered writing to the tax authorities in Thailand saying that retirees should be liable for tax on money they bring into the country?  

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2 minutes ago, tgeezer said:

Has anyone considered writing to the tax authorities in Thailand saying that retirees should be liable for tax on money they bring into the country?  

Why would they (xpats) be liable for tax. I bring into los about 55k aud per year. That money from rentals etc in oz is all post tax in au. All my income is declared in my annual tax return in au. 

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2 minutes ago, DrJack54 said:

Why would they (xpats) be liable for tax. I bring into los about 55k aud per year. That money from rentals etc in oz is all post tax in au. All my income is declared in my annual tax return in au. 

Doesn't anyone who lives here over 6 months become liable?

Providing Oz has a tax agreement with Thailand you are probably correct, but hey, they don't take our word for it for much of anything else!

Edited by jacko45k

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Nobody can give you an answer on here. It's up to TI in the future. Ignore the ,I don't think, what will probably , etc comments. 

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1 minute ago, DrJack54 said:

Why would they (xpats) be liable for tax. I bring into los about 55k aud per year. That money from rentals etc in oz is all post tax in au. All my income is declared in my annual tax return in au. 

Have a look at post number 6, he seems to be signing declarations, suggesting that everyone should be. It isn't the first time I have seen this sort of thing. Some people are incapable of keeping life simple. 

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As long as the rental income shows up in your bank book or statement with the FTT coding, there should be no problem. IO's don't care where it comes from, just evidence it is from outside Thailand.

I understand there is an issue with some Thai banks not identifying transfers with the FTT code. Bangkok Bank always does.

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