|Posted: January 11, 2016, 9:12 pm - IP Logged|
ATM,the jackpot is $1.4 bill with a cash option of $868 mill.
By any staggering amount of luck if I would win it,just for the exercise,after taking an assumed 25%* tax hit then depositing the funds in my Australian account,US$651 mill,turns instantly into AU$931,823,833.71 after clearance.
A plus difference of AU$280,832,833!
Overall,I would urge most Americans to migrate to Oz.At least you only pay tax on the interest earned on your savings.
*I'm not sure how much tax would be charged to a visitor.So I allocated a loose figure.