It's never too late but you've left it too late to get decent conversion of your assets into another jurisdiction, in this cycle anyway.
Those of us who saw the writing on the wall made the move when Aud was sky high and property prices were ridiculous.
As an example I shifted a lot of money to Thailand when Aud was buying 32. It's now less than 24.
Condo in Bangkok up 40% in three years and no capital gains tax or exorbitant government taxes.
So gains on the asset and even more if you convert that gain back to Aud. But you have to sell an asset to realise any gain.
Chinese money pouring in to all the surrounding Asian countries. And yes at some point it will get frothy and probably collapse. So you must always be aware of the market and act accordingly.
Legitimate bank accounts in USA, Malaysia, Singapore and Thailand and no I'm not rich.
It can be done and I think anyone who keeps all their assets and money solely in Australia is taking a risk.
