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Brett Evans

πŸ‘€ Speaker
1123 total appearances

Appearances Over Time

Podcast Appearances

The Money Puzzle
Moving money around the world - Your expat explainer

The popularity of Dubai also means that you're not going to get the big wages because there's 10 people competing for the same role.

The Money Puzzle
Moving money around the world - Your expat explainer

They're not begging James to move to Dubai.

The Money Puzzle
Moving money around the world - Your expat explainer

You know, there's 10 people who are happy to take James's spot for 10% less.

The Money Puzzle
Moving money around the world - Your expat explainer

So sometimes the world needs a bit of a reset and who knows this regional conflict might be good for Dubai in terms of just calming things down.

The Money Puzzle
Moving money around the world - Your expat explainer

But what we see is those flows sort of go elsewhere.

The Money Puzzle
Moving money around the world - Your expat explainer

So if you're looking at Dubai, maybe you go, you know what?

The Money Puzzle
Moving money around the world - Your expat explainer

I wanted Dubai over, say, Riyadh, but Riyadh hasn't had the experience of what Dubai has had over the last couple of months.

The Money Puzzle
Moving money around the world - Your expat explainer

So maybe I'll try Riyadh.

The Money Puzzle
Moving money around the world - Your expat explainer

So people hunt around.

The Money Puzzle
Moving money around the world - Your expat explainer

And if you're what I call a sort of a vanilla profession, like an engineer, an accountant, a lawyer, you have that luxury of being able to shop around those different jurisdictions.

The Money Puzzle
Moving money around the world - Your expat explainer

some industries you can't do that so to me there has to be that reset and i think we've seen that happen with singapore as well just recently as well that's starting to calm down as well too because what happens is they price themselves out of the consumer's pocket and budget and then people just elect to leave so then things start to settle down now so it's sort of that self-moderation but as you say you know if you look at say scenarios of in europe for example

The Money Puzzle
Moving money around the world - Your expat explainer

depending on where in france or depending on where in switzerland depending on which canton switzerland you are you'll have a completely different experience and you do need to go to that next level to see okay yes at a gross level i'm being paid this and my tax late's this my net is this okay how much does it cost to go to school what's the groceries like you have

The Money Puzzle
Moving money around the world - Your expat explainer

just a vast difference of different countries with different experiences.

The Money Puzzle
Moving money around the world - Your expat explainer

As more jurisdictions sort of become available to expats, they're not always family friendly.

The Money Puzzle
Moving money around the world - Your expat explainer

Sometimes the breadwinner will go and the partner and the kids will stay.

The Money Puzzle
Moving money around the world - Your expat explainer

I think more so lifestyle, you know, so Dubai is very family friendly.

The Money Puzzle
Moving money around the world - Your expat explainer

It's very appealing, but some people don't find that with Saudi, for example.

The Money Puzzle
Moving money around the world - Your expat explainer

So either the family lives in Dubai and they commute or they stay back in Australia.

The Money Puzzle
Moving money around the world - Your expat explainer

And this is where things get complicated because under the very archaic and old 1936 tax residency laws, we look at the resides, the domicile, the 183 and Commonwealth supertests.

The Money Puzzle
Moving money around the world - Your expat explainer

The domicile test is where there's a center of your universe.