Offshore company in a tax haven

[BoatBoy]

This should probably have been posted here, and any comment's from the TAX expert's who may miss it in the general investing section would be appreciated.

http://www.somersoft.com/forums/showthread.php?t=34305

Thank's

Dave

 

[secret squirrel]

you need to visit maybe middle range firm for this. forum will not give good advice on this one. plus someone might report u to ato. you need to be careful now. declaring you have interest offshore u dont declare. u need to consider whether resident for tax or not resident. what happens to other money u earn here in oz. you been negative gearing or earning income here. either way boat boy i think u may have opened can of worms. some people may get nasty and report u if they dont like you. u have admitted to having funds offshore and not declaring income. but come forward. commissioner has said no goal if u come clean and only small penalties. better than picking up the soap with glenn.

 

[BoatBoy]

Thank's for the concern SS,

Have a read of the following post http://www.somersoft.com/forums/showpost.php?p=312055&postcount=10

and you will see that there is no OS fund's yet, and at this stage I am only doing due diligence.

You will also see that I have had discussions with the ATO already re: this subject and their opinion is stated.

Thanks

Dave

 

[secret squirrel]

good u do due diligence now. if non resident then problem is income in aus. maybe u want to sell up and move to vanuatu. no problem then. only taxed on aus income. but if no aus income then no tax in vanuatu. malaysia not good. foreigners taxed highly and residents high tax too. malaysia is tough for tax. been there. dubai is good. but maybe no place for the nice boat. good find a good island in the world resort and park boat there maybe.

 

[rossv]

G'day,

you might find some info here

http://tridentpress.com.au/index.htm

As i understand it you become a non dom (domicile) as long as you don't live here (or any other country) for more than 6 months.... therefore all income becomes tax free.


regards

rossv

 

[BoatBoy]

G'day,

you might find some info here

http://tridentpress.com.au/index.htm

As i understand it you become a non dom (domicile) as long as you don't live here (or any other country) for more than 6 months.... therefore all income becomes tax free.


regards

rossv

Thanks for that rossv, I had that one, infact I have quite a good collection now

Dave

 

[JIT]

Thanks for that rossv, I had that one, infact I have quite a good collection now

Dave

Then why don't you just select one of Spicer's 'High Yield Investments'...you know the offshore funds he quotes with returns of 50 % pa for 10 years etc...?

GSJ

 

[BoatBoy]

Then why don't you just select one of Spicer's 'High Yield Investments'...you know the offshore funds he quotes with returns of 50 % pa for 10 years etc...?

GSJ

Saying "Thanks, I had that one" was meaning a selection of companies that can help in setting up some sort of structure in Vanuatu.

Like

http://www.hawkeslaw.com.vu/

http://www.mooresrowland.com/vanuatu international companies and offshore finance center.html

http://www.pkfvanuatu.com.vu/vanuatu_tax.html

http://www.lesstax4u.net/Vanuatu.htm

http://www.vanuatu.com.vu/~mbecs/index.htm

http://www.finemint.com/bank_own_Vanuatu.html

Some having a "dodgier" feel than other's.

I'd like to think the first 3 are reputable, maybe they all are, but i'll be making further enquiries through the first 3 to start with.

Dave

 

[JIT]

I thought you meant you had the tridentpress collection of books, they are just a publisher, I don't think Spicer actually does any consulting work. But his 'High Yield Investments' books are an interesting read if you are after such investments...

GSJ

 

[Sunfish]

But his 'High Yield Investments' books are an interesting read if you are after such investments...

Are these investments suitable for a retiree, albeit an adventurous one?

 

[MichaelW]

G'day,

you might find some info here

http://tridentpress.com.au/index.htm

This might be a bit more precise:

http://www.tridentpress.com.au/category7_1.htm

Specifically look at the book: "The Tax Haven Report #4". It covers Vanuatu.

Cheers,
Michael.

 

[BoatBoy]

This might be a bit more precise:

http://www.tridentpress.com.au/category7_1.htm

Specifically look at the book: "The Tax Haven Report #4". It covers Vanuatu.




Nice one, Thank's again

Dave