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another tax question

another tax question

Old Aug 8th 2011, 1:17 am
  #16  
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Default Re: another tax question

Here. And by "here" I mean Alberta as we have the flat tax. This actually works against you if you are on a lower income but it's the lowest income tax in Canada if you earn in six figures or higher.

Over £150,000 you would be in the 50% tax bracket in the UK whereas in Alberta it would only be 39%.

Also if you expect a large amount of income over a short period of time that usually means you are going to invest it, once again Alberta has the lowest capital gains tax but this is where the US has an advantage frankly, if you are talking serious money you might want to think about doing EB-5 and becoming an immigrant investor into the US as their capital gains taxes are lower.

If you're going to be truly obscenely wealthy you can get a residence permit on the Cayman Islands as a person of independent means.

Although if you're getting the money from investments after income from book sales it would probably be easier to move to The Bahamas as you would not be subject to payroll taxes anyway.

If you actually want to live in the UK then think Isle of Man, top rate is 19% there, which is lower than Jersey or Guernsey.
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Old Aug 8th 2011, 1:15 pm
  #17  
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Default Re: another tax question

Note in UK there would be no personal allowance on earned amounts over 100,000GBP. This makes it even worse than it looks against canada, where there would be allowances and quite wide bands staggering you up to the top rate.

I would let the accountants focus on this issue leaving your head clear to focus on book number 2.
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