Whether renunciation is right for you

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