The great escape

[Joe90]

Have a read of stuff.co.nz; the bleating and whingeing from locals should discourage you pretty quickly. Its a low waged economy and costs are escalating out of hand just like here. I'm from UnZud and have been living in Aus with my family for most of the last 10yrs. An open door immigration policy (pop jumped from 3.5m to 5m), that website, and bloody freedom campers and tourists have kind of discouraged me from ever going home, as beautiful as it is. We own property in NZ, my friend who culls our joint possum pest population keeps the freedom campers under control locally by throwing dead possums under their roadside camper vans
We might go back to Asia yet. Spent 3yrs on various contracts in Malaysia and loved the place. Have a look at the Malaysia My Second Home program. Basically you put some $$$ on govt bank deposit and walk in. Not sure on how the taxation works for retirement though.

 

[So_Cynical]

Many developing country's do not tax foreign income, thus if you can establish yourself as a tax resident there and leave your assets in Aust etc then this can be incredibly advantageous.

 

[qldfrog]

Thanks
Not sure i would leave much in Australia,
my issues are cost of living, temperature in summer, punitive taxation..but with income being slashed, not too bad even if still too high in a world wide comparison.
But most of all i fear assets seizures
To retire early and independently, you need assets to produce income
France gave me a good idea on the way a leftist ideology move from taxation of income to taxation of assets and i see this coming in Australia as sure as sun rises
Land tax, estate tax, death tax..
Do you know you pay tax on garden sheds surface in France

So if a 1million portfolio returns me 3 or 4pc, not only will i be taxed on these 30 or 40k, but i will also be subjected to a "rich bastard must pay" asset tax of 1pc a year or so
And should a global crisis hit, as per Cyprus recently, the ATO will just seize it.

Basically i have no trust in our western government anymore
So reduce living expenses needs, get a decent taxation rate on passive income,and be sure to have my assets safe in an international frameworks.
Step one is to find the right country.

 

[Knobby22]

Marc Faber moved to Hong Kong in the 90s to avoid tax, but now with the Chinese government in control, not my choice.

Lots of tennis players and race car drivers live in Monaco to avoid tax.
Reasonable lifestyle. I think it's expensive to live there so the tax saving needs to be substantial.

Cayman islands, list goes on.
All depends how much money you are making and desperate you are to avoid contributing tax, as expensive if things go wrong. Australia has a safety net.

I know two people living in Thailand, you need to be a little delusional and believe the local Thai girl loves you despite the age difference and support her family. Hopefully they will be patient waiting to get your assets upon your death.

 

[SirRumpole]

Step one is to find the right country.

When you do , let us know. I doubt if there is one.

With banana republics you have to be really rich to have any influence. All governments are looking to soak the taxpayer and if the world goes into recession no where will be safe.

Maybe convert all your assets to gold, bury it your backyard and invest in guard dogs.

 

[basilio]

Part of "The Great Escape" these days is the lush soft focus lives of Instagram influencers.
The beautiful people who make (their) life look luscious and ensure that the brands and places they advertise can continue to prosper.

Couple of powerful stories on this theme.

The Coast of Utopia
From the looks of Instagram, Courtney Adamo and the surfing mamas of Byron Bay are living the dream. Can it be real?

https://www.vanityfair.com/style/20...&utm_brand=vanity-fair&utm_social-type=earned


Byron Bay influencers broadcast a life that's too good to be true – because it is
Brigid Delaney
There’s no study or test in the world that can tell you what happens to your soul when you turn yourself into a brand
https://www.theguardian.com/comment...-life-thats-too-good-to-be-true-because-it-is

 

[moXJO]

Social media is the realm of the fake.
Everyone's lives always look more exciting then they are.

 

[jbocker]

Social media is the realm of the fake.
Everyone's lives always look more exciting then they are.

I go nowhere without my photoshop.

 

[jbocker]

In pursuit of the great escape are you suggesting that your 'assets' go with you. That is, you sell up and buy back in, in your new location. What assets can you leave behind and still minimise your taxation (in Aus) by living elsewhere?

 

[Caveman]

Norseman WA very cheap housing.

 

[Humid]

Social media is the realm of the fake.
Everyone's lives always look more exciting then they are.

Unlike here......

 

[qldfrog]

In pursuit of the great escape are you suggesting that your 'assets' go with you. That is, you sell up and buy back in, in your new location. What assets can you leave behind and still minimise your taxation (in Aus) by living elsewhere?

Real estate is exoected to be the only asset left here
Preparing to sell current ppor to move to a cheaper area in oz, selling assets of family trust as well
Idea is keep a house here, get international share portfolio, a second place OS and leave 50pc + of time OS to not be an Australian tax resident
I will have no few income left in Australia