Here’s PROOF Australia’s Taxes are Going Wild

In this video, we dive into the current state of Australia's taxes and discuss the wild changes that have been taking place.

Australia's taxation system has undergone significant transformations, and we're here to break it down for you. From new policies and regulations to revised tax brackets and rates, the landscape of taxation in Australia is evolving rapidly.

00:00 Start
0:30 New Taxes in Australia
6:30 News
11:00 Australian Tax Office
16:40 Comments from YouTube

Nomad Capitalist is the world's most sought-after expert on legal offshore tax planning, dual citizenship, and international asset protection. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where you're treated best."

Nomad Capitalist has served as the “architect” and “general contractor” for 1,500+ clients who wanted one company to manage their holistic plans. We help these clients keep more of their wealth, increase their personal freedom, and protect their families and wealth against current and future threats at home.

Our in-house team of researchers, strategists, and executioners know more about these strategies than just about anyone. We’ve also spent more than a decade building a trusted network of attorneys, accountants, real estate agents, and others to assist our clients. As a result, our approach is not only holistic, but agnostic; we offer our clients advice on and options in 90+ countries, more than any other firm by far.

If you’re looking to diversify internationally, whether for lower taxes or as a “Plan B”, trust the industry pioneers at Nomad Capitalist and our experience serving the needs of globally-minded entrepreneurs and investors.

DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

[fancentral]

As a 7th generation Australian I’m increasingly recognising Australia has become something very different to what my ancestors built.

[Pedroaghyu]

I am Australian and our taxes are suffocating every citizen, especially in Victoria where we are bankrupt

[FirstLadyRV]

The Australian government banned their citizens from coming home during covid. People were stranded overseas in really difficult situations. One of the reasons I'm happy not to live there anymore, exactly what do my tax dollars get?

[escomz]

I used to love being Australian, but it's becoming unbearable living here with all these Nanny State laws and this includes taxation laws, it's becoming ridiculous.

[affirmationstoday]

Australia has a terrible government the harder and more you work the worse you are treated, if you have worked hard 2 jobs and saved money you get punished with more tax. Just wrong

[fabulouslyK]

I left Australia years ago because of the ridiculous tax system! As a non resident I am taxed ridiculously high on my assets in Victoria! I just hate it, to the point I can’t afford to pay them. For example land tax on a property was approx $600 this year it was approx $10, 000, how that is justified is beyond me! I will sell and suffer the exorbitant capital gains tax and get out so they can’t continue to get me. The Australian tax system is designed for you not to get ahead!

[aussiebear]

Im finding it harder and harder to want to stay in Australia

[BusinessAustralian]

As the owner of a tax agent business, everything this guy says is correct. We can establish whether you are a tax resident or not, but what few of us (and that includes me) can do is give you the whole strategy of becoming a non-resident.

[amraceway]

Luckily foreign corporations operating in Australia are able in many cases to evade tax all together.

[diabolicaldebbie]

Currently, Australian wages: If you make 45K its 32% tax. If you make over $120K it's 37% tax. We also have a Goods & Services tax 10%. and the medium house price is $1 Million. Retirement age is 67. It's not worth it.💸.

[LukeThomasPerth]

im a malaysian citizen with Australian Permanent Residency....always knew itd be handy to hold onto a ticket back into SOuth east asia....

[tovsteh]

What I don't understand is that I pay a high-level of income tax, I have to pay an extra $4000 a year for the public healthcare system, and then there are government fees for literally every single government service I use on TOP of the taxes I pay, and monthly bills for sewage, garbage collection, mail, water, etc etc. What do my taxes go to?

[MUMIMALESBIAN]

Living in Australia but making my international structure as we speak, the ATO are equivalent of the modern day Gestapo. Their rule is, your guilty until you prove yourself innocent, good luck fighting them in the courts. This country was once a place that celebrated hard work and risk taking, now the Labor governments federal and state buy votes with welfare and free money. Where is the incentive to work, study and employ people.

[adriennefinlay]

Anyone who follows your work, appreciates all the insights that you give. Thank you once again for the information. It is appreciated and respected.

[briannewman]

The laws concerning the taxing of Australian citizens living overseas having been extending to more situations over the years. Twenty years ago Australians who earned income overseas were not subject at all to tax on the overseas income if they were not present in Australia for more than six months of the tax year.
In the last twenty years more criteria have been added to the 6 month criteria such as the ownership of property in Australia by somebody who has Australian citizenship now being subject to Australian tax, even if they did not visit Australia at all in the tax year.
The rules in Australia are being added to over time such that it eventually will in effect be a taxation system based upon citizenship as is the case for US citizens.

[hellenicspartan]

I'm leaving Australia for this reason, Australia is a greedy country, you work all your life, and the government still wants more. Luckily I have a Greek passport and obviously have dual citizenship. BYE, BYE Australia.

[yesgoodchannel]

I'm leaving for the country for this reason.

[Bohemiahotrodandcustom]

I got my taxes done afew months ago, i asked my accountant how to set up a bank account in Europe, he said " I have no idea".

[mitchjames]

Australia has become a nanny state with the cost of living and taxes keep going up.

[LinuxGalore]

Australia has taxes that would make a Nordic nation blush, with few if any of the benefits the Nordic nations offer to their citizens. Nordic nations realise without business you don't have people to tax, Australia for some reason doesn't grasp that and feels it is their duty to destroy anyone who dares become wealthy and open a business. This is why the top 5 highest income brackets in Australia are related to medicine and not manufacturing or being an entrepreneur.