Finder Co-founder Has Moved Residence to Singapore
Fred Schebesta has relocated to Singapore, citing concerns over Australian tax rates and the regulatory environment.
Updated on Oct. 10, 2026 in Financial Planning
Live Poll
Is Australia’s current regulatory and tax environment driving too many entrepreneurs to move overseas?
Finder co-founder Fred Schebesta, who possesses a net worth exceeding $200 million, has initiated a relocation from Australia to Singapore. The move follows his public criticism of the Australian regulatory landscape, high inflation, and interest rates.
Why it matters
The decision underscores growing concerns among high-net-worth individuals regarding Australia's tax burden, including a top income tax rate of 47 percent compared to Singapore's 24 percent. This trend reflects a broader desire for more favorable business and investment climates abroad.
Singapore imposes a top income tax rate of 24 percent and levies no capital gains tax, contrasting with Australia's 47 percent top tax rate. Additionally, the Australian government replaced its 50 percent capital gains tax discount with an indexation model.
The players
Fred Schebesta
He is the co-founder of Finder with a net worth exceeding $200 million.
Australian Securities and Investments Commission
This is the Australian government body that sued Finder regarding the Finder Earn product.
Adrian Portelli
He is an entrepreneur who previously announced a move to Dubai in August 2026.
The details
Schebesta owns a $30 million Sydney property known as the Crypto Castle and has expressed frustration with domestic rules that he believes hinder innovation. His move coincides with ongoing scrutiny of high-wealth individuals' tax domiciles, following the May 2026 budget reforms.
Timeline
May 2026: Federal budget revealed major tax reforms.
August 2026: Adrian Portelli moved to Dubai.
October 9, 2026: News of the relocation was published.
July 2027: Capital gains tax indexation model becomes effective.
Market Dynamics
This move highlights a departure from traditional Australian residency patterns driven by the legislative changes established in the May 2026 federal budget capital gains tax indexation model. The trend suggests high-net-worth individuals are increasingly sensitive to shifts in long-term fiscal policy.
The changes in tax policy may force retail investors to re-evaluate their long-term asset holding strategies in light of the new indexation model. Individuals with significant capital gains may see altered net returns on investments held after the July 2027 transition.
The takeaway
Tax domicile shifts serve as a reminder for high-net-worth investors to monitor changes in international tax treaties and local income tax thresholds. Proactive financial planning is essential when fiscal policy environment changes impact long-term wealth preservation.
Further reading
For more on managing assets across borders, visit our Financial Planning section.
Source note: This article includes information reported by News.
Live Poll
Is Australia’s current regulatory and tax environment driving too many entrepreneurs to move overseas?
