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The biggest difference between US states and Australians is taxation. Most US states levy an income tax as well as a general goods tax. Texas, where I live, is one of 8 or 9 that don't have an income tax. However, they have a 8.25% tax on nearly everything apart from produce, milk, bread and the like.
States here are a lot less dependent on the Fed. for handouts than the Aussie states are. Australian states apparently reserve the right to levy an income tax but don't in practice. Though, after living in the cheap place that is NSW, I'm surprised they don't. :rolleyes: |
Re: Becoming a citizen
Originally posted by Simone Cool, thanks! Don't have AUD55 to spare right now though ;) :D BP, I have hardly any knowledge of this, but I have heard of Dutch people moving to Belgium in the past for tax reasons. I think somethings changed though, I thought I heard, but not sure. I also thought Spain is now attractive for some people, but not sure.... (great help I am :rolleyes: ) |
Re: Becoming a citizen
Originally posted by bondipom For those who have already made ones money moving tax regimes may make sense and that has always happened. My point is that there is little tax competition between European nations. People here are not moving to OZ to pay lower income tax. /waves hello to Norway and Sweden! |
Re: Becoming a citizen
Originally posted by bondipom For those who have already made ones money moving tax regimes may make sense and that has always happened. My point is that there is little tax competition between European nations. People here are not moving to OZ to pay lower income tax. |
Re: Becoming a citizen
Originally posted by bondipom For those who have already made ones money moving tax regimes may make sense and that has always happened. My point is that there is little tax competition between European nations. People here are not moving to OZ to pay lower income tax. TAXATION Federal income tax laws extend to Norfolk Island. However, income derived by residents from sources within the Territory is generally exempt from federal income tax. Other Federal Government taxes, including the GST, do not apply to the Island. IMMIGRATION Norfolk Island has its own immigration regime which is administered under the Norfolk Island Immigration Act 1980. Visitors are deemed to hold a 30 day permit and may apply for extensions beyond that period (up to a maximum of 120 days from the date of entry). Further information can he obtained from the Immigration Officer, Norfolk Island Administration. |
Originally posted by sunnysyd Another quick question on this....are there any downsides to becoming an Aussie citizen ? As far as I can tell, you retain your UK passport so I can't think why everybody doesn't go for it given that it's so easy to do and the bonus is that you get dual citizenship. |
Re: Becoming a citizen
As noted, Norfolk Island has its own immigration laws. Although Norfolk Islanders are Australian citizens and can live in Australia proper, the reverse is not true and an Australian passport does not give you the right to live in the territory.
Norfolk Island is outside Australia for the purposes of the Migration Act, but inside for the Citizenship Act. Flights to Norfolk Island leave from the international terminals of Australia's airports. http://www.norfolk.gov.nf Jeremy Originally posted by Megalania NorFolk Island TAXATION Federal income tax laws extend to Norfolk Island. However, income derived by residents from sources within the Territory is generally exempt from federal income tax. Other Federal Government taxes, including the GST, do not apply to the Island. IMMIGRATION Norfolk Island has its own immigration regime which is administered under the Norfolk Island Immigration Act 1980. Visitors are deemed to hold a 30 day permit and may apply for extensions beyond that period (up to a maximum of 120 days from the date of entry). Further information can he obtained from the Immigration Officer, Norfolk Island Administration. |
Re: Becoming a citizen
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Originally posted by bondipom For those who have already made ones money moving tax regimes may make sense and that has always happened. My point is that there is little tax competition between European nations. People here are not moving to OZ to pay lower income tax. Sorted by ascending 2000 take: |
Re: Becoming a citizen
While figures like this are useful as a general guide, there are a number of not-so-obvious distortions. Many countries with a high level of inward foreign investment (such as Ireland) have a GDP that's higher than the real level of national income and hence their tax burdens look lower than they really are.
One would also have to look into the detail of how taxes like compulsory 'social insurance' are treated. And also bear in mind that in some countries there are significant tax differences within the country itself, and different balances between direct and indirect taxes. Jeremy Originally posted by Megalania OECD: Total tax revenue as percentage of GDP Sorted by ascending 2000 take: |
Re: Becoming a citizen
Originally posted by JAJ While figures like this are useful as a general guide, there are a number of not-so-obvious distortions. Many countries with a high level of inward foreign investment (such as Ireland) have a GDP that's higher than the real level of national income and hence their tax burdens look lower than they really are. One would also have to look into the detail of how taxes like compulsory 'social insurance' are treated. And also bear in mind that in some countries there are significant tax differences within the country itself, and different balances between direct and indirect taxes. Jeremy |
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