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About BaanOz

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  1. Tax paid by Expat in Thailand

    Yeah and thanks, other points good to consider :) I read that link to mean, if you don't notify your shares as having a CGT event when you become a non resident, then you lose the CGT 50% discount (if you had them over 12 months) as a non resident plus you pay the CGT from the day you bought them until the day you sold them (as a non resident). If they had gone up in value from the change over then you lose! :) If correct, still not 100% sure if you have to physically sell them before the event of becoming a non resident or just add details to your return. I suspect the latter. This indicates that there is no capital gains tax when you become a non resident because it is a CGT event when you cess being a resident: https://www.ato.gov.au/general/capital-gains-tax/selling-an-asset-and-other-cgt-events/types-of-cgt-events/#CessationofresidencyI I have had a bit of trouble finding this CGT stuff on the ATO site. A reason is it seems it is no longer "non resident" but foreign resident. Look here: https://www.ato.gov.au/individuals/international-tax-for-individuals/going-overseas/lodging-your-tax-return/how-residency-affects-your-tax-return/
  2. Australian share broker

    Thanks. I'm currently an Australian resident but looking for a broker that doesn't have a problem with a non resident for when that time (>183 days in Thailand) comes for me :)
  3. Australian share broker

    I'm not sure what the difference is with using an overseas broker. I've used Interactive Brokers for years including before they setup a formal Australian operation. I've always paid tax on any Austalian shares bought. Anyway, I've contacted Saxo Australia to see what they say. I suspect they might be OK being more international operation compared to the others I've tried but if negative will try Singapore. Their fees look OK too :) Thanks.
  4. Tax paid by Expat in Thailand

    Thanks yes, think your right and I'm just trying to understand this! :) I like doing some research before heading to the accoutant. Something I found in my search is a thread talking about a few things mentioned here including CGT on shares for a non resident plus my concern about holding shares and converting from resident to non. https://www.propertychat.com.au/community/threads/becoming-non-resident.14781/#post-300560 The accountant mentions you have two choices, report a capital gain (or loss) on your shares when becoming a non resident or defer but "must later calculate the resulting gain and apportion for the period between acquisition and the sale using the standard CGT rules (remember the loss of the discount!!)". Yes, guess you would lose the 50% discount if you held shares over 12 months! Don't think I need to actually sell shares but just report any CGT at the time of converting from resident to non. Tricky this ATO.
  5. Tax paid by Expat in Thailand

    AFAIK a non resident pays no CGT on shares.
  6. Tax paid by Expat in Thailand

    Thanks. Just found this at the ATO website and had to read it 1/2 doz times but I think if you do not sell shares before you become a non resident you are liable for any CGT for the total time they are held. https://www.ato.gov.au/General/Capital-gains-tax/International-issues/Changing-residency/ Under "Choosing to disregard capital gains and losses". The effect of making this choice is that the increase or decrease in the value of the assets from the time you cease being a resident to the time of the next CGT event, or of you again becoming a resident, is also taken into account in working out your capital gains or losses on those assets. The way you prepare your tax return is generally sufficient evidence of your choice.
  7. Australian share broker

    By the way, CMC Markets just confirmed... "Unfortunately Thailand is not on the list. We will not be able to establish the account".
  8. Australian share broker

    Thanks Oxx, Will have a look at those. I was thinking Interactive Brokers might be OK too but was hoping to get one where shares are chess sponsored.
  9. Hi, I'm just looking at brokers at the moment and started registering for SelfWealth. Near the end of the application it had requirements including "must be an Australian resident for tax" so canceled. Just looked at CMC Markets and sent them an email asking if I was a non-resident and this was the reply: "Please note you can set up an account if you are a resident of Australia. Depending on the country of where you are moving we may not have jurisdiction to have a trading account operation in a particular country so the account may need to be closed in the future". I also see on the Comsec website here: https://www.commsec.com.au/support/frequently-asked-questions/62.html "Some restrictions apply to applicants from different jurisdictions depending on various legal and regulatory requirements". Wondering if anyone has had a problem becoming a non-resident with regards to their broker and if you can recommend any please? Thanks.
  10. Tax paid by Expat in Thailand

    Not bad but on the otherhand you can't claim loses back. I'm just wondering about the actual switch when you become a non-resident for tax. I understand this will mean a CGT event on any shares you hold prior. Not sure of the mechanics but anyone know if this CGT is just reported to the ATO (and pay any tax) or should you (or better to) sell shares you hold at the time? Thanks.
  11. ING Scraps International ATM fees

    Haha looks like "ING Direct $100 bonus for both referrer and friend". Nice :)
  12. There is a really good calculator here where you can plug in interest rates each year: https://www.thailand-property.com/loan-calculator For the GSB interst rates above for a 1500000Baht loan over 5 years: Type 1 Loan terms 60 Total payment ฿ 1,741,912 Total interest paid ฿ 241,912 Type 2 Loan terms 60 Total payment ฿ 1,743,351 Total interest paid ฿ 243,351
  13. I am just looking into this myself and the Government Savings Bank home loan details are below. Worked out that Type 1 will be a little cheaper but Type 2 is a fixed rate for 3 years. https://www.gsb.or.th/personal/products/loan/person/domestic.aspx The MRR is 7% For Housing Loan Type 1 Interest rate of 1.25 % per year in the first year Interest rate of MRR - 2.00 per year in 2nd year Interest rate of MRR - 0.75 per year in 3rd onwards (maturity loan agreement) Type 2 Interest rate at 4.50% per year in the year 1-3. interest rate of MRR - 0.75 per year in 4th years onwards (maturity loan agreement).
  14. Annoying Soi Dogs

    First on the list is Soi Dog Foundation and they are not interested in healthy soi dogs... https://www.soidog.org/content/contact-us "We would therefore ask that you only call our shelter about animals that need to be spayed or neutered, or those that require medical attention".
  15. Wondering, if a company announces a drop in their franking, do you sell up straight away to avoid paying tax and lodging a tax return?