High income earners in Australia have to pay nearly half of their income to the Australian government in the form of tax. Add various other taxes such as sales tax, capital gains and company tax, then this figure can jump to more than half of hard earned income! There are many ways in which people try and limit their tax liability. Taking wealth offshore is a very popular and attractive option, however, there are lots of pitfalls and technicalities most people don’t consider. You need international tax advice you can rely on.
WealthSafe is here to help.
With more than 20 years experience, WealthSafe are the experts at guiding you through the complexities of legal foreign tax strategies, and help you put your wealth where it belongs — in your own pocket.
Australia’s income tax rate is among the highest in the world. If you earn more than A$180,000 per year, can be charged up to 45% of that income to go to the government’s coffers. However, it doesn’t end there. Add to that the 2% Medicare levy that goes on top of this, capital gains tax, and other day-to-day taxes such as petrol tax and GST on everything you purchase. Before long you’re paying more than half of your income towards tax.
Combined, these taxes have a major negative impact on your wealth. It seems that everywhere you turn, the government is there to take your money. Considering how much time and effort you invest towards achieving financial freedom, this feels like you’re being bullied out of ever achieving this.
All of this seems grossly unfair, and it’s no wonder people turn to all sorts of methods to try and decrease their tax liability, including ‘cooking your books’ so that it seems your income is lower than it actually is, ‘forgetting’ to send in the correct paperwork with their tax returns, even working less in order to qualify for lower tax. Many turn to so-called ‘advisors’ with questionable credibility who for help. These guys offer ‘solutions’ like pre-packaged tax avoidance schemes.
These methods and schemes are not only unsustainable, but most often illegal! If there is one certainty in life then it’s that the taxman WILL eventually find you, with dire consequences. With this in mind, you have to ask yourself — is this really worth it? Do I really want to risk of potentially losing EVERYTHING?
Worry-free, legal solutions
There are, however, international tax advice that is completely above board and 100% legal — no cheating, no hiding, no stress of being caught. One of the most popular tax minimising solutions these days is going offshore. In fact, many of the world’s top companies use this method to significantly reduce their tax liability. Companies such as Apple, Starbucks, Google (Alphabet), Amazon, Facebook, and Uber all structure their businesses in such a way that they can tax advantage of competitive tax rates around the world.
For example, by using their entity in Luxemburgh, Apple pays less than 1% tax on their nearly US$30 billion earnings, Amazon pays a meagre 0.2%, Starbucks 0.25%. Imagine what impact this has on their profits, compared to having to pay in excess of 40% tax by not using this method. And it is all 100% legal.
Great for companies, great for you
Now you may be thinking, this is great for these companies, but can this work for me too? The short answer is a resounding YES! With careful planning and structuring of your income, you too can take advantage of the amazing tax savings offered on foreign soil. All of it 100% legal, of course.
But wait, it gets tricky.
While it is possible for you to get in on the offshore tax saving action, there are a number of restrictions that can get quite complicated. This is where people who try to do it themselves, and most of the above-mentioned ‘advisors’ trip up — they simply don’t know the details. Most people start companies overseas and think that they automatically qualify for lower taxes, but it is often not the case, and they can end up paying tax in that country AND in Australia! Not only does this defeat the purpose, but you also risk running foul of the law.
To avoid this, you need specialist advice, and this is where WealthSafe comes in.
Expert Offshore Tax Advice
It’s clear that you need to talk to experts, but how do you distinguish those who are out to make a quick buck (and end up potentially getting you in trouble), and the real specialists? It is simple: you need advice from someone who is an expert in both international tax laws and Australian tax laws, with solid experience in navigating the complex waters of making the two work together, and who has your best interest at heart.
WealthSafe checks ALL the boxes!
We are the only company that specialises in Australian tax. We have more than 20 years’ experience, and are your Australian and International tax advisor. WealthSafe’s CEO Warren Black is a former ATO employee and the country’s leading expert in offshore tax strategies. When it comes to knowledge of international tax codes and business laws, no one knows better than Warren Black.
We have helped everyone from individuals to start-ups to multi-million dollar companies save a significant amounts of tax dollars, legally. We can do the same for you!
Book a free, one-on-one initial strategy session with one of our expert consultants to discuss how we can help you protect your wealth from excessive tax.
Complete the below form to discuss your options with us.
After a thorough analysis of your data and unique circumstances we advise you of all oppotunities. We guide you towards the best path and take control of implementation. Through every stage, we ensure full tax compliance and ongoing support.
It's a no-obligation risk-free assessment with a full money back guarantee (conditions apply).
Financially modelling your situation. We present your options and outline the possible tax savings.
We provide a written report with options to minimise your tax along with our recommendations.
WWe have a follow up meeting and create a strategic tax plan based on your choices.
We outline the process, costs and tax savings, and what you need to do from your side.
We fully implement your tax plan to ensure you meet all local and international legal requirements.
For those moving overseas to flee the Australian tax robbers, we help in the whole process from beginning to end.
Our service continues after we've implemented everything for you. We provide ongoing training to update you on changes as well as providing options to work with us on an ongoing basis.
Brilliant service!! Could not have asked for a better start to getting my business structure. This world is still completely new to me and I am very impressed with all the resources Warren and the entire team at Wealth Safe have provided to help me understand trusts
Living overseas, with no structures or assets in Australia anymore, it simply didn't make sense to keep paying into their tax system. Thanks to Warren and his team, they guided me through the process of setting up stable business structures, and making sure all the lawyers agreements and professional advise was documented. This ensured I met the obligations of the ATO and was 100% legally compliant with my obligations. I researched my options, and felt secure that WealthSafe took all precautions to ensure I was doing the right thing, and benefitting financially at the same time
After getting so much conflicting advice from other sources, we were completely confused. Being global business owners, we needed both Australian and international advice, so we reached out to War ren to help us understand exactly how we could structure our businesses to ensure we were well protected. It was vital to us that our future growth and decisions were taken into account. Not only did Warren give us the highest quality advice, and go above and beyond in ensuring we understood the full spectrum of what we were putting in place, but he has always been available for follow up questions, is always happy to get us on the phone for clarification, and he has shared the expertise in his team with us. At first, we have to be honest, we were really concerned about spending money on a consultation. The outcome is although not cheap, it is the best money we have ever spent. We can see significant savings, know we are structured well, have a fully dedicated and professional team behind us and have expert advice available when we need it. We can’t recommend Warren and the Wealth Safe team enough. Thank you
CV from Canada
He is very professional, knowledgeable and creative with his tax planning strategies, and very attentive in answering your questions and working with you to find the best set up for your individual situation. I feel confident working with him and his team, and his level of expertise is outstanding. I wouldn't trust any other company, and would highly recommend Warren Black and Wealth Safe to protect your assets
Although I thought the result I had figured out with my accountant were the most tax effective way I could setup myself up. I was in a position where I would have to pay 31k in tax. Warren found something in how I was setup, which turned my situation around to getting $15k returned to me. It's a $46k turn around.
Warren was able to set me up, and help me look forward to further tax reductions for the future. Also for improved asset protection. Warren also did bloodline wills for me and my wife. Full Review Here
I'm in the mining industry and run a small trading business. I had a tricky situation I had to get out of. I had default on my credit files. I got Warren on the job, he loves that sort of challenge. He didn't even charge me full price, he was excited at the challenge of helping me out. He succeeded and got rid of my default! I get Warren to do all my work now. I would recommend him to anyone
John G from Sydney
I run a small business. I was concerned about safeguarding my assets, myself and my family, and the amount of tax I was paying, but I also wanted to be legal and not get into trouble. Warren was able to provide me with a structure that protected me and my family and my assets and also helped to significantly and legally reduce the tax that I had to pay. Sure I had to pay and they aren’t the cheapest nor the most expensive, however it was well worth the fees paid. I certainly feel more comfortable and secure now
They were able to walk me through the whole process, even a tax dummy like myself.... I was very very impressed with the level of service. It was really end to end. They were always there to answer questions, help me complete paperwork and connected me with all the right people. I can't recommend Warren and Wealthsafe highly enough Full Review Here
Virna, Warren and the Wealth safe team have provided us with a professional and efficient experience helping us to identify and create a customised financial structure to suit our needs. They clearly have a great deal of knowledge regarding taxation in Australia. Also Warren's seminars have been of great help. We absolutely would recommend their services and are forever grateful for help and advise provided
I am a doctor (GP) who was making a good income, however, I was highly dissatisfied with the high amount of tax I was paying, and also feeling a little lost and frustrated in my life in general. I signed up to work with Warren and his team at Wealth Safe. It was one of the best things I have ever done. Firstly, I got quality advice on my tax and was restructured and legally was able to minimize my tax and get on top of it. Secondly, I joined his mastermind and got some personal mentoring, which was significant. It helped me shift a lot of mental and spiritual blocks, and financial imprints which seemed to be blocking moving forward and making major decisions. I learned also how to manifest and create what I wanted rather than what I don’t want, and I have even manifested a wonderful relationship with a very supportive partner. So all round, a great decision. Thanks Warren, and I would recommend Wealth Safe and Warren’s tax advice service and manifestation and imprint clearing to anyone!
Speak with our team about your tax situation and see how we can put more money in your pocket. See if you qualify for a strategy session to discover what we can do for you. Simply click the adjacent button and complete the enquiry form.