Itís Your Money > Taxes

Tax in PI

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CanoNoMo:
SUPER PAYMENTS!? Man, I\'s needz to get mee sum of dem! 8)

coutts00:
Think 401K instead of Super Payments same thing.

beacon:
If one actually lives in Oz (otherwise spelled KS) then move!† That is tax state 15 out of 50.† They tax about everything.† It took a class action to prevent taxing military pensions when they did not tax state pensions.† AL does not tax SS or Federal pensions.† Lower taxes all around.

graham:

--- Quote from: Gray Wolf on June 17, 2010, 09:08:07 PM ---
--- Quote from: beacon on June 17, 2010, 01:17:58 AM ---If one actually lives in Oz (otherwise spelled KS) then move!† That is tax state 15 out of 50.† They tax about everything.† It took a class action to prevent taxing military pensions when they did not tax state pensions.† AL does not tax SS or Federal pensions.† Lower taxes all around.

--- End quote ---

Beacon, OZ is Australia, not Oklahoma.† †;)† †:)

By the way, welcome to LinPC! (Living in the Philippines Community Forum)† †;D

--- End quote ---

Yep Jack,

I just strolled down the \"yellow brick road\" from OZ straight to the Philippines. LOL

Graham

Lunkan:

--- Quote from: GregW on October 22, 2009, 03:57:04 AM ---As a general rule, income derived from an RP source is taxed in the RP.† Income derived from a foreign source is not taxed in the RP but is probably taxed in the source country.


--- End quote ---
Things can be very different depending which other country is involved.
LOCK UP! so the countries have agreement against double taxation, so you don\'t risk to pay tax in both countries for SAME income.

I suppose tax for retirement pay normally are taxed in the countries who pay it.

The \"6 months rule\" is common to decide which country is counted as you are living there,
NOTE!† It can be very interesting if
1. there are agreements against double taxation,
2. RP is counted as main country
3. AND the income is from working abroad a part of the year.
Then it seems no country want to tax that work income...† :)

I know some use part of this to get REDUCED tax by working in Europe less than 6 months per year, and live in Thailand the rest of the year. Then† they PAY income tax on that European income, BUT they pay the LOWER Thai income tax percent.

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