cdeez

Australia has a "good" system for this (or fair system) - when you leave the country you either choose to pay CGT based on the value at that date, or Australia has a claim on the assets when you eventually sell.

Source -> https://www.ato.gov.au/individuals-and-families/coming-to-au...

If you cease to be an Australian resident while overseas, we deem some of your assets – generally those not taxable Australian property – to have been disposed of for CGT purposes. This may mean you become liable to pay CGT.

You can choose not to have this deemed disposal apply. But if you do eventually dispose of the assets, we consider the whole period of ownership – including any period when you're not an Australian resident – when we calculate a capital gain or loss for CGT purposes.

Yes this makes me very sad too. If you add the natural gas, iron ore, gold, etc we should be sitting on enough to run the country indefinitely. Instead the government is crying poor slashing services and selling off public assets.

We have also managed to completely hollow out the economy - there is nothing really left as all capital has flowed to the most profitable sectors (house building and resources) encouraged by public policy.

This is because they have reduced staff numbers with the introduction of e-gates, so there is less flexibility to process peak queues. The KPIs are also very generous, 45 minutes is too long.

As an Aussie this pisses me off entering the UK. When Brits travel to Australia they can use e-gates, but the same courtesy is not extended back to us. Frequent travellers can pay to use the gates, but not everyone has that option. If the strategy is to use the gates they should make them as available as possible.

You forget the multi level sales scheme that has everyone dreaming of becoming a partner and living the good life. Similar to a startup you are taking lower pay to build value-less equity in the hope you will get to the top and cash out.

Last time I looked into this this most suits are settled quietly out of court, at levels covered by very good professional insurance.

Who is actually going to raise the suit? Not so easy to pull together investors / debtors of very large entities.

I was amazed with the Aussie approach to implementing this as putting it on the merchants who are unlikely to be AU tax payers is impossible. It is designed to be unenforceable.

We still have your exact system in the UK (and rest of EU?) it kills my desire to import unless the price is vastly different. Anything from non-EU countries above £15 gets hit with 20% VAT & an admin fee (£8 I think!).

https://www.gov.uk/goods-sent-from-abroad/tax-and-duty