Living on a boat and avoiding taxes
- Thread starter Fishbird
- Start date
That's as far as I got with my initial enquiries.
If you buy a nice place and have a net worth >1MM you can apply to be a HNWI (high net worth individual) with a ceiling of 10K to your tax liabilities.
Make sure you spend 30 days a year there, keep it unoccupied for most of the rest of the time, don't work in Gibraltar and you're set.
This is my understanding at any rate.
If you buy a nice place and have a net worth >1MM you can apply to be a HNWI (high net worth individual) with a ceiling of 10K to your tax liabilities.
Make sure you spend 30 days a year there, keep it unoccupied for most of the rest of the time, don't work in Gibraltar and you're set.
This is my understanding at any rate.
sooooo...now i got a problem; da cunt prodi has 'apparently' won da elections and he's plannin' to raise cap gains taxes from 12.5% to 20% [bloody commie]. now i have to seriously consider u suggestion: i live in london now'n'go up'n'down from italy to uk regulary. shall i buy a freakin' house here'n'keep me bank acct open? how for money transfers...wouldn't da 'finanza' be able to track 'em?
All of you non-USA citizens are very lucky. We have to pay taxes to the government wether we live in the USA or not.
If you are not a nth american resident.You buy a motorhome.Have a motosat dish installed.Spend summer in Canada.Winter in Mexico.In USA in between.Seems like none of those three countries can tax you,unless there is a rule about averaging more than ninety days over a certain period.Anyone know?
I wouldn't be so quick to extol the virtues of tax-exempt living outside the US.
Canadians have to jump through some pretty big hoops to legally qualify for 'non resident' (read: no income tax) status.
Not the least of which is disposing of all Canadian property, abandon the country (and family and friends) only to return for the occasional holiday (few weeks a year).
Canadian tax zealots and a sympathetic judiciary have weakened the non-resident clause sufficiently to even question its usefulness -- non-resident status is no longer a quantifiable designation.
Canadian courts collaborating with our IRS have declared sole discretionary authority over which non-residents will actually qualify for tax exempt treatment, and which will not --- even if the citizen has been living outside the country for 10 years!!!
The CRA just comes back and says too bad, we consider you a resident even though you've been out of the country for 3, 6, 8 or whatever years. Pay up.
After studying the issue at some length, there is a simple and effective way. The answer is out there. But it costs money.
Not really justifiable without 1 mil in the bank.
Canadians have to jump through some pretty big hoops to legally qualify for 'non resident' (read: no income tax) status.
Not the least of which is disposing of all Canadian property, abandon the country (and family and friends) only to return for the occasional holiday (few weeks a year).
Canadian tax zealots and a sympathetic judiciary have weakened the non-resident clause sufficiently to even question its usefulness -- non-resident status is no longer a quantifiable designation.
Canadian courts collaborating with our IRS have declared sole discretionary authority over which non-residents will actually qualify for tax exempt treatment, and which will not --- even if the citizen has been living outside the country for 10 years!!!
The CRA just comes back and says too bad, we consider you a resident even though you've been out of the country for 3, 6, 8 or whatever years. Pay up.
After studying the issue at some length, there is a simple and effective way. The answer is out there. But it costs money.
Not really justifiable without 1 mil in the bank.
Canadian courts collaborating with our IRS have declared sole discretionary authority over which non-residents will actually qualify for tax exempt treatment, and which will not --- even if the citizen has been living outside the country for 10 years!!!
How quickly those bastards forget their history.Uncle Sam started out revolting against "no taxation without representation".
How quickly those bastards forget their history.Uncle Sam started out revolting against "no taxation without representation".