I am currently living in Australia and planning retirement in Thailand. If I sell all my assets in Australia and send the money to my Thai wife’s and my own bank account in Thailand one year before I actually retire and live there, am I subject to tax? I will be sending all my money at one time, no income just cash?

Before remitting large sums of money, please seek advice and a consultation before acting. In principle if you are a non-Thai tax resident, you can remit the assets to Thailand as a non-Thai tax resident, or just keep the money in an account in Australia. This can be remitted in the future as the ‘crystallisation event’ took place when you were a non-Thai tax resident. I recommend that you seek advice and clarity before acting.

You may find our webinar on the Thailand-Australia Double Tax Treaty useful; you can watch it here.