Should Australian citizens be allowed to save or invest their money in offshore bank accounts?
An offshore (or foreign) bank account is a bank account you have outside of your country of residence. The benefits of an offshore bank account include tax reduction, privacy, currency diversification, asset protection from lawsuits, and reducing your political risk. In April 2017, Wikileaks released 11.5 million confidential documents, known as the Panama Papers, which provided detailed information on 214,000 offshore companies serviced by the Panamanian Law Firm, Mossack Fonesca. The document exposed how world leaders and wealthy individuals hide money in secret offshore tax shelters. The…
Read more57% Yes |
43% No |
41% Yes |
33% No |
17% Yes, as long as offshore income is reported |
6% No, and neither should corporations and business organizations |
5% No, too many wealthy citizens are abusing loopholes in offshore banking laws to evade taxes |
See how support for each position on “Offshore Banking” has changed over time for 33k Australia voters.
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See how importance of “Offshore Banking” has changed over time for 33k Australia voters.
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Unique answers from Australia users whose views extended beyond the provided choices.
@9HCXTZW5mos5MO
Yes, but only for citizens as long as offshore income is reported, but corporations and business organizations should not be allowed to have offshore bank accounts.
@98YDX2R1yr1Y
Only if they are doing it to help support family, or friends that live over there.
@98SVHYB1yr1Y
Only for people with yearly incomes below $250,000
@98PXPCQ1yr1Y
Bank accounts is expected the big range android is warned that covid hits the spots fraud
@984C83N1yr1Y
No, and neither should corporations and business organisations, as too many companies and wealthy citizens are abusing loopholes in offshore banking laws to evade taxes
@93BK4M82yrs2Y
Yes as long as they have a citizenship.
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