Sounds interesting but how would a resident of Australia who has never left the country do something equivalent or close to something like this?theasxgorilla said:Invest as a non-resident (pay no CGT) from a company in Jersey Is. and pay your 2k quid a year in tax and let the rest accumulate in your company.
insider said:Sounds interesting but how would a resident of Australia who has never left the country do something equivalent or close to something like this?
insider said:Sounds interesting but how would a resident of Australia who has never left the country do something equivalent or close to something like this?
Hi Insiderinsider said:I'd like this thread to be about techniques and strategies that can be used to minimise the amount of tax paid, hence; so we can pocket more!!! Please contribute...
theasxgorilla said:http://www.offshoresimple.com/offshore_companies.htm#investment
There are also two quotes at the top of this page about tax. I suggest anybody who gets that deep down feeling that this is cheating should read those quotes.
EEE said:http://www.tridentpress.com.au/webcontent95.htm
I recently bought this book for my brother and have just started reading it myself. Packed full of info but a little hard for a simpleton like myself to get my head around.
Also a lot of other really interesting books on the site, check it out...
insider said:Hey ASXGORILLA are you from Australia? And do you use this strategy?
theasxgorilla said:From Australia, yes. Did you read the last few sentences from the link I posted?
reece55 said:Well,
IMO, a trust fund is the most important thing to an investor.
If you are not using a trust fund, then generally your not being effective (unless you having money pouring out your ears and it doesn't matter). These things are the best tax value shifters in the Australian tax system. If you have kids, you can give them about $700 a year with no tax, + any other income can be given to your family (provided you are the specified individual) 2 generations up and down. Got a brother/sister that is a bum - all of a sudden they are your tax shelter. Just make sure you get them to sign over their credit beneficiary account balances to you though.......... Plus, you know the old $5000.00 franking credit rule - if you have 3 beneficiaries you will get 3 lots of the 5k franking credit rule. With this, you can dividend strip to your hearts content... In addition, if the trust is discretionary, you can also section of capital gains to one beneficiary (useful is someone has large unused capital losses).
As usual, DYOR and this is not my licenced opinion.
Cheers
It is okay to let the money accumulate in your offshore account. The tricky bit comes when you want to get it out I suppose. If you take it out while resident in Australia, then surely those proceeds would be taxable?theasxgorilla said:From Australia, yes. Did you read the last few sentences from the link I posted?
exgeo said:Follow Warren Buffet's example and just don't sell your investments, or at least keep trading to an absolute minimum. Tax is not due until you realise the gain.
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