Hi,
Just wondering the best place to invest cash? My mattress is bulging
Also be better if the investment was somewhat anonymous, i.e. doesn't require a TFN to set it up.
I'm in Australia.
Thanks,
Bob
Not sure what sort of returns you are after or what risk profile you have.
For mine – in an offset account linked to your home loan – the same as earning approx 6% tax free.
Ok, let me clarify what I'm asking, I'm seeking an investment vehicle with low/moderate risk but which is largely anonymous, so no TFNs, etc, required to set it up. I'm completely new to investing by the way, so may be shares are the option?
The other idea I had was gold, I have no idea if its a good investment, but I assume meets the 'anonymous' requirements.
Bob
Hi Bob,
Not sure what sums of money you are looking at but you may wish to consider the Anti-Money Laundering and Counter-Terrorism Financing Act (2006).
This Act has a number of 'reporting' requirements that may impact on what you are planning to do.
I think it was Malcolm Fraser who suggested placing your hard earned under a mattress might be the way to go.
I've thought of that, but $100 tomorrow wont buy what $100 today can buy. If i do use a safety deposit box type arrangement, what can I buy now to retain the value of the funds in ten years? Cash depreciates.
I guess what I'm asking is, what can I buy thats small enough to fit in a box, but likely to retain its value in years to come?
Diamonds, gold?
Send it overseas and borrow it back?
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Cocaine, true story
How much money are you talking? About $40K will buy you a kilo of Gold…
A TAB phone betting account won’t gain any interest but is relatively safe. I hear that #3 in the 4th at Randwick might get up
Scott No Mates wrote:A TAB phone betting account won’t gain any interest but is relatively safe. I hear that #3 in the 4th at Randwick might get upI’ve got $100 on, I hope your right
beans wrote:Cocaine, true storyHaha this could be the start of a vicious cycle.
If you’ve got an appetite for risk you could try investing in a high yielding meth lab.This video comes to mind http://www.youtube.com/watch?v=-HaqwFJj4ZY
Gold fits the bill and should prove to be an excellent buy if you understand (and believe in) the fundamentals of it as an investment. I'm heavy on silver for many more reasons but for portability, hideability etc, gold wins every time. I've bought 5oz of gold (about $8k) with no I.D requirements but most will tell you I.D. is required for purchases of more than $5K.
N@than, where do you buy your gold? A kilo would cost minimum $53k!
Why do you need anonymous purchase? Are you simply hoping to avoid tax and pray you don’t get caught? Do you not have a TFN and cannot be bothered to get one? Are you living under a new identity and fear your predators will find you if you have legit assets?
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Hey Scottsdale,
I have bought silver from Perth mint over a year ago and remember the gold was around $45k back then. Obviously haven't checked in a long time. Sounds like its doing better than my silver!
Witness protection program
what i would do is purchase a ticket to the isle on man off the uk or isle of White..or even some other islands over in europe that arent under the European union laws… go open a bank account. you might want to set up an overseas address where your 'residential address' will be.. this is merely a middle man as these addresses are set up for you in order to open an account. if you want to draw on your account your respected institution will send you a letter containing a check labled 'gift' as you cant tax gifts.. clearly its your own money coming back into the country. makes sense? if yourv heard of this before its because everyone with half a brain was doing it in the UK to avoid paying tax.. the banking institution still made money as they charged a higher fee than the mainland banks but a lot less than getting taxed..
If the bulging mattress is annoying you, your welcome to put it under mine. Could even use it to prop up the wonky leg on the coffee table.
i have some empty cookie jars perfect for storing money. in my house though. i can't go lending my cookie jars out to people willy nilly.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
I hope the ato doesn’t lurk around this forum…. They might want to know why you have $250k cash at home
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