A second passport is very useful. It can be used to evade tax.
Steps go something like this:
- Use SG passport to open brokerage account at SG office of global brokerage like Interactive Broker with an account that allows you to trade in various exchanges e.g. Singapore, Malaysia, US, London - best to stay away from Australia exchanges with this account - ring fence your various brokerage accounts so as not to cross contaminate
- Provide relative's or friend's SG address as proof of address and choose option to have your statements sent to you via email only, so your friend or relative will not know anything of what goes on with that brokerage account
- As far as Interactive Broker is concerned, you are SG resident opening SG brokerage account, no AEOI/CRS obligations involved i.e. no need to provide info about the profits you make from the brokerage account to Australian or other foreign government
- Trade Singapore/Malaysia/US/London shares using that brokerage account and make profits
- Those profits even though from non-Australian shares and nothing to with Australia are strictly speaking liable to Capital Gains Tax in Australia because Australia imposes worldwide tax on its residents
- If you use Australia passport to open that brokerage account, Interactive Broker is obliged to notify the Australian government of the existence of that account and its Australian connection, that is the whole purpose of AEOI/CRS - to enable Australia/US/Canada/UK/Japan/etc to be armed with info to go after their tax cheating citizens
- SG government is not interested in your Interactive Broker account, because 1) there is no capital gains tax in SG; 2) there is no tax on dividends in SG; 3) there is no AEOI/CRS obligation to provide information to a foreign tax authority because based on the documentation you are a SG citizen opening an SG account
- If renounce SG citizenship and no other ID documents apart from Australia passport you are screwed and better guai guai pay Australia worldwide tax to support their welfare system which mainly benefits the poor and lazy
- People pay a lot of $$$ just to get a second passport and be able to play this game
- Disclaimer to TS: This scheme is elaborate and can save a lot of taxes, but is ultimately illegal but who cares as long as you can get away with not subsidising the poor and lazy's freebies ahem welfare, the poor and lazy (like senile tank drivers) can go fuck themselves
https://www.henleyglobal.com/citizenship-investment
https://www.oecd.org/tax/exchange-of-tax-information/automaticexchange.htm
you FUCKSHIT retard. Basic fact is your fucking brain has degenerated so much that you imagined yourself to be an officer when you in fact you were a fucking lance corporal DRIVER who can't even know the difference between a tracked vehicle and a wheeled 4 X 4 vehicle. Heh DONKEY "tank" DRIVER, what part of GO FUCK YOURSELF do you not understand?
