# Legitimate ways to reduce tax



## clowboy (27 May 2007)

Hello all,

With the end of the finacial year just around the corner I'm looking for ways to reduce my tax bill this year.

The obvious way is to negative gear, also was looking at Tree farming or the likes but have been advised that it is a Dud.

Anyone have any tried and proven methods?


Thanks


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## wayneL (27 May 2007)

clowboy said:


> Hello all,
> 
> With the end of the finacial year just around the corner I'm looking for ways to reduce my tax bill this year.
> 
> ...



Move to Bermuda?


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## tasmanian (27 May 2007)

move to bermuda!!!

so whats the story there then.can i move to bermuda and still trade aussie stocks through my comsec account and not pay any tax???do i have to live in bermuda a certain amount of time per year???can i come to oz say 3mths a year.

what other countries is this possible.im interested.any advice on this would be much appreciated

cheers


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## insider (27 May 2007)

tasmanian said:


> move to bermuda!!!
> 
> so whats the story there then.can i move to bermuda and still trade aussie stocks through my comsec account and not pay any tax???do i have to live in bermuda a certain amount of time per year???can i come to oz say 3mths a year.
> 
> ...




Hey I did a thread called "Beating the Taxman" should look it up... there's heaps on offshore accounts...


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## tasmanian (27 May 2007)

cheers insider ill see if i can find it.

living overseas 9mths a year sounds a good deal to me.open a little business in bermuda or somewhere where living expenses are low. and trade now that sounds the go

cheers


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## clowboy (27 May 2007)

insider said:


> Hey I did a thread called "Beating the Taxman" should look it up... there's heaps on offshore accounts...




Offshore doesn't help my Aussie liabilities, and I don't have a big enough tax liability to warrant the expense


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## insider (27 May 2007)

clowboy said:


> Offshore doesn't help my Aussie liabilities, and I don't have a big enough tax liability to warrant the expense




Well soooorreeeee ... I thought I was addressing that... 

There's also info on what you're talking about... good luck on the voyage...


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## clowboy (27 May 2007)

insider said:


> Well soooorreeeee ... I thought I was addressing that...
> 
> There's also info on what you're talking about... good luck on the voyage...




Sorry, Didn't mean to offend you.


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## wayneL (27 May 2007)




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## doctorj (27 May 2007)

wayneL said:


> Move to Bermuda?



A friend of mine did just that this week.

The pay there is astronomical.


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## wayneL (27 May 2007)




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## insider (27 May 2007)

clowboy said:


> Sorry, Didn't mean to offend you.




No I apologize... I was being sarcastic... the problem with internet translation


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