In Australia, the average person now pays 69% tax.
The OECD, the world “secret police” who monitors offshore tax havens, now controls the tax systems of most countries in the world. Everyone is paying far too much tax!
(I love how the OECD say their purpose is to “eliminate unfair tax competition”, which in layman’s terms, means punish countries who are giving low tax rates so the big countries can charge more in taxes, but that is another story … )
The fact is, paying higher taxes is becoming more of our lives each day, and our hard-earned wealth is more at risk than ever!
For businesses and investors to get ahead, knowing how to do 100% legal tax minimization in Australia is critical. As Google, EBay, Starbucks and Facebook have shown, with their sexy “Double Dutch Sandwich” structures involving Ireland (only 12% corporate tax rate), and Netherlands (tax-free for holding intellectual property), the big companies have worked out the game, and hence, make more money for their shareholders and with the extra dollars, can give more jobs back into the community.
To build a strong global business, all these companies know how critical it is to work with experts knowing high quality international tax planning solutions. As Kerry Packer said at the Print Media Enquiry in 1991:
“I am not evading tax in any way, shape or form. Now of course I am minimizing my tax and if anybody in this country doesn’t minimize their tax they want their heads read, because as a government I can tell you you’re not spending it that well that we should be donating extra.”
I love how Kerry puts that … we don’t want to be giving the government any more tax than we legally have to, as they aren’t spending the money well we should be donating extra!
Yet on the other hand, we don’t want to go to jail for our tax planning either, as many found to their peril with Operation Wickenby …
In Operation Wickenby, many Australian companies got “too aggressive” and used Vanuatu companies to shift monies through. Very simply they did something like this …
Indeed the Tax Office has targeted celebrities like Paul Hogan, Glen Wheatley, and others. It’s certainly not worth going to jail for money!
This has scared many businesses and investors from using international tax planning solutions in their business and investments.
The days of using dodgy tax planning schemes to avoid paying tax are well and truly over.
The fact is, you are limited as an Australian business owner or investor from international tax planning through overseas structures. However, overseas structures can still be incredibly powerful to protect assets, as you will see as you read further on.
There are many ways you can use to minimize your tax. These include:
There are a lot of ways you can legally minimize your tax. For example:
That is why you need to work with experts who know what they are doing, and will slash your tax, but make sure it stays 100% legal.
In summary, international tax planning, and setting up overseas structures and bank accounts is a powerful way for tax minimisation for residents of Australia, and for asset protection in Australia.
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Warren has recently conducted a 2 hour presentation on how the offshore world works. He looks at everything from:
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Who is Behind Wealth Safe’s International Tax Planning Solutions Division?
Warren Black is the head of the Wealth Safe international tax planning solutions division. With over 26 years experience in tax planning, including 10 years at the Australian Tax Office, and being the ONLY recommended specialist in Australia on Lance Spicer’s list of highly recommended international tax planning experts (Lance Spicer is a top authority on offshore structuring and planning, and going under the radar), Warren knows the tricks of the trade to ensure you only pay the tax you legally have to, and use offshore structures in an effective way to get results and not have any trouble.