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"Must be the money!"
U.S. citizens should be aware that - unless they renounce U.S. citizenship and give up the U.S. passport (which almost no one ever does) - then they are still liable for all federal taxes, even if they're paying no income tax to the UAE. I think it's probably similar for Australians. Foreign tax credits on our Form 1040 would be dictated by IRS code, which in the case of U.S. ex-pats might be partially dependent on an existing tax treaty. 😵💫
But someone who never plans to return to their country of origin might very well decide to stop filing or paying income taxes.
The UAE is starting to change its tax policies for foreign workers on long/permanent contracts, but it seems gig work is still under the old rules for now. So, a girl can move there for a minute and bank a lot of cash fairly quickly in order to fund her lifestyle.
Yes, because all of the modeling, role playing, and down-right prostitution they are doing over there is on the books...
Many of them are prostitutes and Dubai is full of rich men with niche tastes.
Helle Trevino moved there too. She’s been in Denmark as of late, so maybe with her rumoured retirement from competition she’ll be moving again.
Helle's home country is Denmark so she's just costing friends and family. She told me at the Olympia she plans on competing this year especially since she placed really well at the Olympia.
"Must be the money!"
U.S. citizens should be aware that - unless they renounce U.S. citizenship and give up the U.S. passport (which almost no one ever does) - then they are still liable for all federal taxes, even if they're paying no income tax to the UAE. I think it's probably similar for Australians. Foreign tax credits on our Form 1040 would be dictated by IRS code, which in the case of U.S. ex-pats might be partially dependent on an existing tax treaty. 😵💫
But someone who never plans to return to their country of origin might very well decide to stop filing or paying income taxes.
The UAE is starting to change its tax policies for foreign workers on long/permanent contracts, but it seems gig work is still under the old rules for now. So, a girl can move there for a minute and bank a lot of cash fairly quickly in order to fund her lifestyle.
Under the "Foreign Earned Income Exclusion" if you live and work outside of the US for at least 330 consecutive days during the tax year, you are not subject to most US taxes.
Do remember too that if you're originally European based and move to Dubai the mobility is much easier to go back and tour Europe (or just go home) than it is from US or AUS.
Regarding taxes, even if Australia had the same tax structure as the US, $100k annually is FAR more than any gym is paying a coach that isn't the owner, and unless you're the biggest gyms around you're not pulling in that kind of money.
"Must be the money!"
U.S. citizens should be aware that - unless they renounce U.S. citizenship and give up the U.S. passport (which almost no one ever does) - then they are still liable for all federal taxes, even if they're paying no income tax to the UAE. I think it's probably similar for Australians. Foreign tax credits on our Form 1040 would be dictated by IRS code, which in the case of U.S. ex-pats might be partially dependent on an existing tax treaty. 😵💫
But someone who never plans to return to their country of origin might very well decide to stop filing or paying income taxes.
The UAE is starting to change its tax policies for foreign workers on long/permanent contracts, but it seems gig work is still under the old rules for now. So, a girl can move there for a minute and bank a lot of cash fairly quickly in order to fund her lifestyle.