Comments by "Matthew Nirenberg" (@matthewnirenberg) on "BREAKING: A New Country is Taxing Citizens Globally" video.

@svensulzmann4282 Taxes do absolutely prevent a person from exercising their political opinion freely as it prevents them from leaving. If these changes are treated the same by banks, foreign governments and businesses as simply being a US citizen is, then people won't have any choice but to remain in Australia as they won't be able to have bank accounts, own property, buy property or otherwise do business abroad. Also, note that tax in Australia is determined on your pre-tax income, anything that doesn't seem "up to the standard of Australia" is increased under Australia's "deeming laws" and then you have to pay that tax on top of any tax you pay abroad; DTA's (double taxation agreements) are being abolished entirely under the new Australian tax rules so no more credits for taxes paid abroad. Australia is so broke that no longer lets you set prices. In years gone by, it was perfectly okay to rent a small house to a child, a relative or a friend for a fair, affordable fee that they could afford - as long as the contracts were legal and everything was declared it was fine. Along comes the 2022-2023 tax year (1 July 2022 - to 30 June 2023) and suddenly this practice has been declared illegal as the govt now requires all rents to be charged at the top-market average so now people are literally going homeless because they can't afford $30,000 more per year so the landlord can keep the tax office happy. Now you can't even choose the price you chose to do business at - the government now set the price purely for maximum tax. Note that once homeless these people become dependent on the govt just to survive and thus must agree with and politically align with the govt to survive so bye, bye political freedom. So yeah, taxation does restrict political freedom both within and outside of the country.
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@svensulzmann4282 If a person has zero reason to keep any ties to Australia then why not? Australian passports are losing access to the world fast (ETIAS is 100% biased against "western countries", most of South America and the Caribbean now require visas for Australian's). Australian passports are seen as jokes around the world (speaking from personal experience here) - banks won't touch you except for New Zealand and Vanuatu, many countries won't let you register a business as an Australian citizen even if you have the correct visa as they don't want the tax and reporting nightmare - the same problem US citizens have. The mere fact you think Australia is one of the strongest economies in the world just shows how out of touch with reality you are as it hasn't been that since the late 1980's. Currently its the world's 13th largest economy and getting smaller each year - anything from 10th place and lower are the top end of small. Also, expect the Australian economy to continue to tank with rapidly increasing inflation, anti-business laws and regulations coming in every few months and with taxes increasing every few months. Most business are either broke, going broke or leaving the country rapidly.
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@bamahama707 I'm in the process of GTFO'ing from Australia as until the whole place falls apart and everyone is 100% bankrupt, nothing will change - the whole system is too corrupt and inbred (creating more bureaucracy and rules to justify its own existence). Originally I was planning on genuinely moving my entire life abroad, but, if what is said in the video is followed through with then renouncing will be the only option as if Australia insists you can't go to a lower tax country without paying the difference each year or if they insist that you must live x days per year in one country even if you have genuine tax residency in that country, then that would severely restrict business travel, holidays and sailing internationally.
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@AngryVet44 Dude, go rent a place to someone for less that the average market price, then see what the ATO say when they go through your taxes. They'll declare that the price your charging as rent is too low, they'll apply a deemed value and make you pay the difference. This is literally what happened to a colleague of mine literally last week. She legitimately rents a house to her daughter but because she only charges $300 per week, the ATO considered this to be under-valuing the rental and thus applied their deeming laws and now she has a tax bill of $30,000 based purely on the difference between the rent rate the ATO say she should be charging and what she charged. Also note that the question you're referring to is from August 2022 as you state, what I'm talking about is a May 2023 change that applies to the whole tax year retrospectively.
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Sadly, I think you're right.
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Just a friendly FYI - according to the Department of Home Affairs, they aren't required to accept you wanting to renounce so they can simply refuse and you're screwed.
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@easterncoastacd1883 No, what he's talking about are the new tax residency rules that are coming in 1 July 2023 (the start of the new tax year). What you're talking about has been law since 2020 (global minimum for all companies - not just corporations). The new rules are a citizenship based tax in all but name as what Australia considers to be "residing in your country of tax residency for a significant enough part of the year each year" can change whenever the wind changes direction, its arbitrary and targets Australian citizens who live abroad permanently. I'm curious to hear how many years they'll actually monitor you for about this but until they announce a time limit then we must assume this is permanent so gone are long holidays, flag theory / trifecta model, gone is all but the most essential business travel, unless you want to pay the ATO simply for being an Australian citizen.
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