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 |  This is my blog & my hope, writing daily will help me see my progress and log supporters. |
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| Thai authorities have been pushing to tax incoming overseas funds from ex-pats. This, along with the immigration demands (90-day reports and once-a-year applications for visa extensions), adds stress to my everyday life. I didn't move to Thailand to be a slave to bureaucracy or to endure sleepless nights worrying about issues that may or may not be relevant to my circumstances. I've watched endless YouTube videos about the new tax system being touted, and I am no closer to understanding whether or not I need to report my earnings and file taxes here. Australia and Thailand have a double tax treaty, and any earnings from interest on my term deposit account over a set amount I will have to pay tax to the Australian tax authorities. Just to try and gain some extra clarity, Nada and I woke up early today and went to the Thai version of the IRS...and the result was even more confusing than before. I support myself financially with savings held in an Australian bank account that I then transfer as needed into my Thai bank account. I have already paid tax on these funds. I'm too young to claim a pension in Australia (and from what I gathered from the Thai IRS, pensions are what they are focusing on). The good (and bad) news is that even if I were the required age to claim a pension (sixty-seven), I am not eligible because I live overseas...which inadvertently removes me from the Thai government's sights. In seven years, if I were to consider moving back to Australia to claim a pension, the amount paid would only cover my rent, and with the high cost of living there, it would be difficult, if not impossible, to make ends meet. This afternoon I watched a YouTube channel called Integrity Legal, which is hosted by the American attorney Benjamin Hart. He made a very good observation and according to him, there have been no changes to Thai tax law requiring foreigners to file taxes. Thailand is a strange place as far as legal matters are concerned. There is constant talk of change to Thai law, but it rarely happens...and even when it does, it often takes years before changes are codified. In light of this new information, I'm going to forget about whether or not I have to file taxes in Thailand. If there is a problem in the future, I will deal with it then. In the meantime, I'm going back to enjoying retirement in this beautiful and cheap country. |
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