I wrote the following in response to a letter from a good friend inviting me, again, to invest in a start-up in Canada. It seemed like a good deal. I had fobbed him off before by saying that my cash flow was bad. He wrote back gently pressing me, which led to the following. On reflection, I decided that it was worth putting up on the blog as a statement of just how bad Australia has become…
Hi ****, here’s the honest truth. I’ve been turning down investment opportunities for ages now simply because I cannot bear the tax papers that I then become responsible for filling out. I am a shareholder and/or director of five companies and the paperwork is just ridiculously unpleasant.
Isn’t that crazy? It’s not the taxation that is stopping business, but the compliance/nuisance events that accompany it.
I am focused on a plan to make a bundle next year. I will set aside a plentiful amount to last me out (in gold of course), distribute the rest to my children and then sell or close down the companies.
Then I will finally be free of the odiousness of governments. I will not start another business while resident in Australia. I’m not retiring; I’m going on strike.