QUESTION: I live in Australia but seriously considering living elsewhere as our freedoms continue to be eroded, our economy artificially supports to stop property prices corrected as top 4 banks carry estimate 80% exposure, etc, etc.
I love living in Sydney beaches for climate, beaches + surf, incredible quality of raw ingredients for food and a healthy lifestyle. But I believe we are on a downward spiral which may well last a generation or longer.
I’m location independent economically with both Australian and UK passport.
Where my best options to move and make a home where the next 20 years will flourish rather than suffer?
I’m very open to suggestions?
ANSWER: The UK will most likely adopt a worldwide income tax. As an Australian resident, you are taxed on your worldwide income. This means you must declare all income you receive from foreign sources in your income tax return. You might want to look at moving to Thailand. They are outside of the CRS and a very reasonable country, if not the most reasonable in SE Asia. It is hard to say what will unfold there going forward. However, the only thing that is certain is that the West is in the decline & fall mode. The financial power will shift to Asia post-2032.
We have to understand that all the promises of socialism are crumbling to the ground. The governments will become much more aggressive to enforce taxation in a desperate attempt to retain power. That will fail. The only thing this is causing is rising separatist movements and inevitable violence.