Singapore might cover an area of just 712 square kilometres, but it is fast becoming a tax haven for rich Australians. The attractions are large. Capital gains are not taxed. Individuals are only taxed on income earned directly in Singapore, and for the super wealthy, there are no inheritance taxes.
Mining magnate Gina Rinehart - the largest shareholder in Fairfax Media - is the latest to buy up big in the city state. The billionaire has reportedly spent $S57 million ($A43.8 million) on two units, off the plan, in the Seven Palms Sentosa Cove condominium project. Full story
