Entrepreneur Relocated Amid Tax and Regulatory Shifts
High-net-worth individuals are shifting residences as Australia reforms capital gains and income tax policies.
Updated on Oct. 10, 2026 in Financial Planning
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Finder co-founder Fred Schebesta has begun moving his residence from Australia to Singapore, citing concerns over the domestic regulatory landscape, inflation, and high interest rates. This move follows a series of significant tax policy changes introduced in the Australian federal government's May 2026 budget.
Why it matters
The relocation reflects a broader trend of entrepreneurs seeking jurisdictions with more favorable tax environments to manage wealth and innovation. By moving to Singapore, taxpayers may access a top income tax rate of 24 percent, compared to the 47 percent rate in Australia, and benefit from the absence of capital gains tax.
Australia maintains a top progressive income tax rate of 47 percent, whereas Singapore's top rate is 24 percent. Additionally, the government replaced the former 50 percent capital gains tax discount with a new indexation model for assets sold after July 2027.
The players
Fred Schebesta
An entrepreneur and co-founder of Finder with a net worth exceeding $200 million.
Australian Securities and Investments Commission
The national regulator responsible for corporate governance and enforcing financial consumer protection laws.
Adrian Portelli
A high-net-worth individual who relocated to Dubai in 2026.
The details
The shift in tax policy follows the May 2026 federal budget, which overhauled the capital gains tax discount system. While Australia's regulatory environment has seen recent legal disputes between the Australian Securities and Investments Commission and firms like Finder, high-net-worth individuals are evaluating their residency to optimize against these tax and rule-based constraints.
Timeline
May 2026: Federal budget revealed major tax reforms.
August 2026: Adrian Portelli moved to Dubai.
October 9, 2026: News published regarding the relocation of Fred Schebesta.
July 2027: Capital gains tax indexation model becomes effective.
Money Landscape
The transition marks a departure from established domestic tax residency as entrepreneurs adjust to the May 2026 budget reforms. This trend follows an era where the 50 percent capital gains tax discount previously shaped long-term wealth accumulation strategies in the region.
Readers should consult with a tax professional to understand how new indexation models impact their specific asset sales occurring after July 2027. Reviewing your tax residency status or long-term investment strategy is essential when federal policies shift the cost of holding domestic capital.
The takeaway
Large-scale tax changes can fundamentally alter the financial planning calculations for high-net-worth individuals. Keep a close watch on your tax documentation and discuss any potential changes to your long-term residency or asset-holding strategy with a qualified financial or tax professional.
Further reading
For broader guidance on managing wealth transitions, see Financial Planning.
Source note: This article includes information reported by News.
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