Paraguay V Argentina, Lifestyle And Taxes

[RodalfoWalsh]

Thanks for the input. What do you think a reasonable monthly amount would be? I am assuming no housing costs as I would buy a place. I have 3 children so it would be for 4 people.

USD | Item
-
750 Food (no restaurants)
500 Transportation (I would get a new car but not upgrade it for 10 years, amortization plug gas, insurance, maintenance)
70 Electric
20 Water
100 Internet
200 Medical
300 Other, e.g. clothing, entertainment
-
1940 Total

Where are you planning on living? I pay a lot more than that for water and electricity would be much higher with no gas. Internet is slightly to significantly less than 100. 200 seems a very low for insurance for three as well.

 

[RodalfoWalsh]

I don't believe they need any formal education at all. School is only social.

That's an interesting view. In that case public school would be fine

 

[Tres Picos]

Here are two threads which I believe you will find informative:

Is $2 Million Usd Enough To Retire With In Argentina?

$1 Million Usd To Spend In Bsas - How Long Can It Last?

If my hunch is correct, you are already familiar with their content.

I did read the first thread and that's where I got the notion that Argentina taxes on passive foreign income. Very bad news because I just about had my heart set on Argentina but this will be severely limiting.

Thanks for the second link.

 

[Tres Picos]

Where are you planning on living? I pay a lot more than that for water and electricity would be much higher with no gas. Internet is slightly to significantly less than 100. 200 seems a very low for insurance for three as well.

Hi, certainly not downtown BA. I was thinking within driving distance of BA but well out, say maybe 1 hour. I heard Pilar is nice. Otherwise, some place like San Luis as Bajo recommended. Where do you live?

Can you view my updated budget? It's a lot more detailed and takes into accounts some of the feedback and is in ARS. I attach it in one of the posts below.

Thank you,

 

[Tres Picos]

How about Chile? Have you looked into the most modern country in this area?

Haven't really. I was in Argentina awhile back and liked it. Is Chile comparable? Is it more or less expensive? How does residency and potential citizenship compare?

 

[Tres Picos]

I've spent some time in Concepcion (northern Paraguay) with a German/Paraguay family and they wouldn't educate their kids in public schools. They go to great lengths to pay private school fees, and they are not rich people by any standards.

How much do they pay and what is so bad about the public schools?

 

[Tres Picos]

Please convert all figures to pesos at $16 per dollar..

750 Food (no restaurants)

$400 PESOS PER DAY FOR 4 PEOPLE IS JUST A MINIMUM NO CLEANING PRODS AND HOUSEHOLD MAINTENANCE ITEMS ? TOILETRIES... TOO LOW . ADD CLEANING LADY $500 PESOS..!! A WEEK?

500 Transportation (I would get a new car but not upgrade it for 10 years, amortization plug gas, insurance, maintenance)

$8000 PESOS PM ?? SAY INSURANCE $1500 , LICENSE PLATES $1500 GAS $2000 PER MONTH, MAINTENANCE, $1000 AMORTIZATION 10 % STRAIGHT LINE FOR us$30,000 DOLLAR CAR ...? .. BARELY MAYBE ??

70 Electric MAYBE

20 Water MAYBE

100 Internet OK WITH CABLE

200 Medical SEEMS LOW FOR PRIVATE MEDICAL INSURANCE FOR 4 INCLUDING MEDICATIONS?? $3200 PESOS??


300 Other, e.g. clothing, entertainment, !!!

$10 DOLLARS A DAY FOR ENTERTAINMENT , CLOTHING, ETC .....$$150 PESOS..!! ENOUGH FOR ONE BFAST FOR 4...!!

SCHOOLING ?? UNIFORMS ?? BOOKS ?? $$$ SCHOOL BUS
-
1940 Total... ???

Thanks, please see my updated budget in ARS and after integrating your feedback.

I would expect the childcare workers to do the cleaning as well.
One main full-time, live-in and above all trustworthy - 20k/month.
Full-time helper - 8k/month.
Part-time replacement for illnesses, holidays, etc. - 4k/month.
32k/month

I'm thinking a 40k car spread out for 10 years. That's about 330 USD/month.
Is the license plate fee of 1500 a monthly charge? That's odd.

I would not buy medical insurance. Is Argentina one of those places where you get a much better deal if you pay via an insurance plan than out of pocket? Otherwise, I have no need for insurance. Actually, I've spent far less than that during the past 5 years but am raising the allotted amount for contingencies.

School would be the bare minimum.

According to this new budget I would be looking at about 67k ARS/ 4.2k USD base plus 32k/2k USD for childcare.

 

[steveinbsas]

I edited this post after seeing the revised budget...

As a single individual your monthly income over $20,000 ARS will be subject to income tax.

Since your worldwide income would also be taxable in Argentina, your tax bill will be much higher if you really have two million dollars in foreign assets that are well invested and producing income.

Your foreign assets will also be subject to the bienes personales tax, as will any property you buy in Argentina.

And the value of your car will be added to your total assests when calculating the bienes personales.

 

[Tres Picos]

EDIT in response to your EDIT.

I saw many nice properties for about 200,000 USD using the REMAX website which I actually got from one of your threads on rural living (great thread by the way). Some are in Barrios Cerrados. I suppose there is a monthly fee for living in one of those.

Also, what is this bienes personales tax? Is it some kind of tax on assets which have been accumulated prior to even residing in Argentina?

What tax rate would I be subject to on worldwide income?

 

[steveinbsas]

Here is the edited version of the post I made before seeing the revised budget:

[background=rgb(252, 252, 252)](The original version is quoted in Tres Pico's last post.)[/background]

[background=rgb(252, 252, 252)]As a single individual your monthly income over $20,000 ARS will be subject to income tax.[/background]

[background=rgb(252, 252, 252)]Since your worldwide income would also be taxable in Argentina, your tax bill will be much higher if you really have two million dollars in foreign assets that are well invested and producing income.[/background]

[background=rgb(252, 252, 252)]Your foreign assets will also be subject to the bienes personales tax, as will any property you buy in Argentina.[/background]

[background=rgb(252, 252, 252)]And the value of your car will be added to your total assets when calculating the bienes personales. [/background]