Rental INcome Tax

[appleman_thai]

Hi,
I have just returned to Ireland after living in Thailand for 6 years.

I am renting out my condo in Cha-am through an agent but I would like to know what tax I am liable for the rental income that i receive.

Anyone any ideas?

[Burger]

Try this:

http://www.rd.go.th/publish/6045.0.html


Burger

[jackie]

I have just been to your web sit and read about your journey to Ireland and how difficuly it is for you.

I am just curious to why you returned to Ireland

[appleman_thai]

THere wasnt one main reason that I came home - it was a combination of many factors.

For sure the new visa rules had a major impact. I didnt want to be living my life on a 30 day schedule and hoping that the immigration guy would let me back in. If he was in a bad mood or his mia noy hadnt delivered then the chances were racked against me!

No matter what anyone says there is no OFFICIAL way for - a guy under 50, not married to a thai and no thai children to support and not working - to stay legally in thailand past the 3 months.

Sure there are ways around it but they seem to be plugging all these loopholes at every opportunity.

Also, at 36 i think early retirement didnt suit me. I tried it for a year and just got bored. So I am back in Ireland looking for work now.

[appleman_thai]

Try this:

http://www.rd.go.th/publish/6045.0.html


Burger

Thansk for the link. Maybe I am a little slow but i have read through the website and this is my understanding. Am I right?

If I earn 500,000 per year on rental income then I will receive an allowance of 30% which is NOT taxable.

That leaves 350,000 that is taxable.

Then I am entitled to a single allowance of 30,000 which means 320,000 is taxable.

That means I must pay tax at 10% on 220,000 as the first 100,000 is exempt.

Meaning I pay 22,000 baht per year? Which is about 1833 per month.

Correct or not?

[Burger]

No matter what anyone says there is no OFFICIAL way for - a guy under 50, not married to a thai and no thai children to support and not working - to stay legally in thailand past the 3 months.

You can obtain the non-immigrant 'O' visa in the UK (not sure if it's the same in ROI ?).
They're easy to obtain, legal and last for 15 months, you do have to make 90 day visa runs though, which are not in question like the tourist one's are..

Good luck anyways,

Burger

[appleman_thai]

Burger,
I applied to the Thai consulate in Dublin when I came home for Xmas. At the time that was a last resort for me. They turned me down!

Plenty have told me about going over to Hull but I wont be going there for the time being.
I just had enough of trying to get a legit visa to stay there and the whole political and economic outlook wasnt too rosy so I am not at home.

Who knows what will happen next.

How about my tax calculations- could I get a career as an accountant?

[Burger]

Apple,

Don't go to Hull, download the form off the internet and post it to them.

You're a mathematical genius my friend.

Come back, don't live in the cold, it's bad for your health.

Burger

[appleman_thai]

Apple,

Don't go to Hull, download the form off the internet and post it to them.

You're a mathematical genius my friend.

Come back, don't live in the cold, it's bad for your health.

Burger

Burger,
Thanks for the invite back but for now I am going to give it a go here in Ireland. Everyone is telling me that I wont be able to settle but thats just an added incentive.
Also, by being away maybe I will start to appreciate more what life was like in Thailand - I was definitely beginning to look more pesimistically at things!
We'll see where I will be in 6 months!