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buff · 13-04-2004, 07:34

Novice,

Good advice on the Lance Spicer info - I am a big fan of his and really enjoy his books and way of thinking.

Ox, you will have to be careful on what you do here as any profits earned whether it be from onshore or offshore are still taxable here in Oz. Now there are obviously ways you can reduce this tax somewhat and you will need a good accountant, someone who is just not a compliance lacky for the ATO, but someone who thinks out of the box to ensure that the client (you) is getting the best deal possible.

A company set up is probably the simplest most effective way to start as a companies tax rate here is a flat 30%. That is the advce I received, but I really don't know all the ins and outs to go into it here.

Ox you may wish to check out my accountant's firm at http://www.profitpower.com.au/ Their web site gives you an idea of what they do but it is probably better if you ring them direct and speak to Graham Donnelly if you can. I did learn something a long time ago and that was get good people in your team. It may cost a few extra bucks initially but in the long run it will pay off ten fold - trust me on that as I am talking from experience. Hope this helps you out a bit.

13-04-2004, 07:34	#3 (permalink)
buff Go the Reds....please Join Date: Mar 2003 Posts: 798 Rep Power: 0	Setting up In Aus Novice, Good advice on the Lance Spicer info - I am a big fan of his and really enjoy his books and way of thinking. Ox, you will have to be careful on what you do here as any profits earned whether it be from onshore or offshore are still taxable here in Oz. Now there are obviously ways you can reduce this tax somewhat and you will need a good accountant, someone who is just not a compliance lacky for the ATO, but someone who thinks out of the box to ensure that the client (you) is getting the best deal possible. A company set up is probably the simplest most effective way to start as a companies tax rate here is a flat 30%. That is the advce I received, but I really don't know all the ins and outs to go into it here. Ox you may wish to check out my accountant's firm at http://www.profitpower.com.au/ Their web site gives you an idea of what they do but it is probably better if you ring them direct and speak to Graham Donnelly if you can. I did learn something a long time ago and that was get good people in your team. It may cost a few extra bucks initially but in the long run it will pay off ten fold - trust me on that as I am talking from experience. Hope this helps you out a bit.