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A Hidden Paradise With No Taxes

Discuss culture, living, traveling, relocating, dating or anything related to Australia, New Zealand and the Oceania region.

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A Hidden Paradise With No Taxes

Postby Taco » Fri Jun 21, 2013 12:38 am

Norfolk Island is one of the few English speaking countries with no taxes.

A Hidden Paradise With No Taxes
http://www.sovereignman.com/offshore/a- ... tax-12086/
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Postby Cornfed » Fri Jun 21, 2013 1:27 am

Like a lot of remote places, it is a paradise but for the lack of one thing: money. If I could earn lots of money over the Internet I would consider either living there or in Svalbard. Then again, various texts say the only way of surviving what is coming is to live in the mountains...
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Re: A Hidden Paradise With No Taxes

Postby Teal Lantern » Fri Jun 21, 2013 1:37 am

Taco wrote:Norfolk Island is one of the few English speaking countries with no taxes.

A Hidden Paradise With No Taxes
http://www.sovereignman.com/offshore/a- ... tax-12086/


Wherever people and prosperity go, the tax man will follow.
It should say "No taxes, ... yet."

It starts out as "soak the rich", but everyone else gets hosed, too.
не поглеждай назад. 8)

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Postby momopi » Fri Jun 21, 2013 9:09 pm

The wealthy folks today have numerous financial services available to them, where teams of specialists spend their working hours to figure out how to optimize wealth and reduce tax liabilities. They do not need to flee to Norfolk island just to reduce their tax burden.
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Postby ragequit » Sat Jun 22, 2013 1:32 am

momopi wrote:The wealthy folks today have numerous financial services available to them, where teams of specialists spend their working hours to figure out how to optimize wealth and reduce tax liabilities. They do not need to flee to Norfolk island just to reduce their tax burden.


True. That's why they don't. Many billionaires pay little or no personal tax because everything owned through trusts and corporations.

Norfolk Island's autonomy and tax-free status are regularly threatened by the Australian government, so I wouldn't count it either lasting.
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