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Whether
renunciation is right for you
‘Simon grills the
world's foremost renunciation expert on the how-tos of giving up US
citizenship.
If you've ever wondered whether renunciation is right for you’ is an excerpt
from Simon of sovereignman.com & just maybe the option you are considering
now that you will be slugged with another proposed taxx.
This Carbon Taxx just might be the last straw for
you & maybe fleeing which is a prehistoric male mood maybe the solution for
you.
We certainly know of several blue heeler Aussies who are very keen to
leave their mummy or is it their nanny state.
There
is David who has a MBA & MCommLaw who his wife says ‘We have to go as we have no option’.
David just can’t wait to leave
as what is the point of staying in the 14th most expensive city in
the world when taxx takes close to half, 45%, his income after expenses.
There
is Peter who not only spent 5 years on a horse in the Northern Territory but
also built a successful consulting business & established various
businesses. He to wants to leave permanently even though he has a granddaughter
here.
In
fact there would be over 1 million expatriates or Diaspora & they
aren’t all doing the grey lap or the OE trip.
The
frustration at what is happening in US is also happening here in AUS. Today only 27% approve of the
current big government & either
persuasion is questionable.
Privacy
is another issue for another day.
As
we all know Taxx is wasted & spent on
pet projects. You can use your funds better.
This
is reflected in the attitude that ‘If we don't keep cost competitive,
(investors) will go elsewhere, that's the reality," she said’.
So mining jobs leave. Let’s kill the goose.
So your
equities in your super fund which is your pension loses more. Thank you very
much poll dancers.
Dominic next
door pointed out that he pays 45k in taxx. Ok he must earn a lot but then his
employer believes he is worth it. We certainly don’t begrudge him his income as
we know his occupation. He can’t leave his family just because his taxx is ridiculous.
So what
is he to do.
We gather
that costs will increase due to this carbon taxx. That means to Dominic &
home buyers that rates will go up when inflation picks up.
Thank you very
much poll dancers.
We do have a
simple strategy for him which is to have the taxx man over time ‘subsidise his mortgage’ & create a
portfolio outside super.
There are many
different ‘taxx structures’ available to you & you don’t need to
investigate Labuan to minimise your taxx.
If you are
our age then an allocated pension pays zero taxx on its earnings & there is
also a 15% rebate to you.
If you are
George & turned 55 recently then you to should convert all your super to a
similar pension.
If your wife
isn’t earning then income & assets in her name is a simple solution.
If you are
both earning over 37K then you will be on 32.5% MTR. There is a better way.
And an idea
that just entered our mail box.
From
1 July 2011 the exempt asset amount increased from $11,000 to $11,250. This
means that a client can now receive up to $438.75 per annum in extra age
pension. This is also an opportunity to review your existing funeral bond
clients as they can top up their funeral bond so long as total contributions do
not exceed the new $11,250 limit.
Not exciting but appropriate for many
& a simple idea.
If your super ‘bats for the other side’ then maybe you should reconsider where
your fund’s administration fees go. We have argued the cost benefits to you
recently.
We have many more ideas & you are welcome to call on 07 3848 1088 or email or visit our websites.
Dominic also mentioned that you needed
2 million in capital to retire on.
That is right & the traditional way won’t
get you there. Recall that the poll dancers believe 500K before capping
contributions is sufficient for you.
We promise you will know more about
your finances after our meeting.
John McAuliffe
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