Every second call at the moment ends the same way. The budget has tightened the screws, the pay rise didn't move the needle, so what if we just moved to Singapore? Or Dubai. Or Hong Kong.
Ben and Siobhan ran the numbers, and the first thing they found is that Australia is a lower tax country than the UK, Canada, New Zealand and most of Europe. The catch is where we collect it. Almost 43% of every tax dollar in Australia comes from personal income, one of the heaviest reliances on personal income tax in the developed world, and that is exactly why it feels the way it does.
From there it gets practical. What you take home on $100k, $250k, $500k and $1 million in Sydney versus Singapore, Hong Kong and Dubai. What those countries charge you instead, from a 60% stamp duty on foreigners to private everything. How you actually get in.
The tax bill Australia hands you on the way out. And the two residency tests the ATO uses to decide whether you really left, because the people getting caught aren't the ones who moved, they're the ones who pretended to.
WHAT YOU'LL GET OUT OF IT
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Why Australia's total tax take is below the OECD average, and why it feels worse than that
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Take-home pay on $100k, $250k, $500k and $1m across Australia, Singapore, Hong Kong and Dubai
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Zero capital gains, zero on dividends and zero on interest, and what these countries charge instead
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The employment pass, the top talent pass and the golden visa, and what each one costs to qualify for
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Monaco, the Caribbean, Vanuatu and the other places that make the list
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The deemed disposal tax bill you pay when you leave, without selling anything
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Source tax versus residency tax, and why your Australian property still gets taxed
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The six-month test and the centre of vital economic interest
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Who relocating actually works for, and who ends up worse off
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The tax-smart moves available to you if you stay
CHAPTERS
00:07 Should you move to Singapore to save tax?
01:33 Australia is below the OECD average, with one big but
03:50 Why the pay rise stopped moving the needle
04:30 Singapore, Hong Kong and Dubai, why those three
05:46 Take-home pay on $100k, $250k, $500k and $1m
08:13 One year in Dubai equals five years here
09:22 Zero CGT, zero on dividends, zero on interest
10:09 Tax residency is the whole game
11:23 How these countries tax you instead
12:13 Getting in: employment passes, talent passes and golden visas
15:37 Monaco, the Caribbean and Vanuatu
19:21 The deemed disposal bill on the way out
20:20 Source tax versus residency tax
24:19 The six-month test and centre of vital economic interest
26:16 Line-ball residency cases
28:37 Who this actually works for
29:38 Is it worth six months away from your family?
30:36 The tax-smart moves if you stay
32:33 Wrap
Smarter money moves start here.
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This podcast is for education only and doesn't take into account your personal circumstances. It's not financial advice. If you buy a financial product, read the PDS and TMD, and seek advice tailored to your situation. Ben Nash and Pivot Wealth are authorised representatives of Fish Tacos Pty Ltd, ABN 14 649 248 082, AFSL 533055.
