About 10,000 mega rich make Australia home in 2017, lured by proximity to Asia and no inheritance taxes

Australia is the millionaires’ migration destination of choice for the third year running, according to a new report, with wealthy individuals lured by the country’s proximity to Asia, relative safety and no inheritance taxes.

About 10,000 high-net-worth individuals, with a personal wealth of US$1m or more, migrated to Australia in 2017 – mostly from China, India and the UK.

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