Take Your Money And Run!
by Alex Doulis
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Book Summary Information
Author: Alex DoulisIllustrator: Ruari Duffield
Edition: Paperback
Published: 1998-04-01
ISBN: 0969843208
Number of pages: 186
Publisher: Uphill Publishing Ltd.
Book Reviews of Take Your Money And Run!
Book Review: Useful if you are Canadian ... but ...
Summary: 3 Stars
I read this book several years ago and found it a useful starting point to plan my early retirement outside of Canada. While the overall "system"/"approach" described in the book is useful, it is my understanding from others that have read the book that what is described is not entirely lawful in Canada and may be considered tax evasion (which is illegal) in Canada. Much of the book describes how to "hide" your money so the Cdn and other governments can't track your capital gains - ie: off shore accounts - use of brokers in Denver (I think) Colorado by the trusts set up in the off shore accounts etc. However, I read an earlier than 1998 version of the same book so maybe it was cleaned up.The other major complaint I had with the book was the philisophical rant that ran through the book vis-a-vis Canadian politicians. The author spent so much time grinding his axe that it reduced the credibility of the book. It would have been much preferable for him to describe the legal means by which investments/income/RRSP's (the Cdn equivalent of IRA's) could be moved out of Canada in retirement.
However, notwithstanding all of the above, it was a very useful first look at all the constituant parts of leaving Canada and living well off investments for one's early retirement years. I hope this latest version of the book resolves some of the problems discussed with the earlier text.
Summary of Take Your Money And Run!
Newly revised to accommodate the recent changes made to the Income Tax Act, this edition offers readers easy and legitimate alternatives on how to shed one's residency to legally avoid paying taxes in Canada. Delving into the intricacies of the Income Tax Act as it refers to Canadian citizens living abroad, this guide show how to invest money offshore, live leisurely, and rid the financial burden of paying income tax?all while maintaining Canadian citizenship.
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