Where to live for various phases of your life

School Age until University

Australia. Education is free (except for private schools). Public healthcare is free (or inexpensive for private health insurance). Large amounts of land/space at relatively low cost.

Working Age

Asia. Tax rate is low. Salary is higher for the same job compared to Australia. Vibrant nightlife and shopping until late. Cheap travel to other countries.

Roughly speaking:

Australia -> 4 - 21 years old

Asia -> 22 - 35 years old

Australia (when your children are primary school age) -> 36 - 52 years old

While working in Asia, remember to buy investment property in Australia to accrue negative gearing tax credits.

Before returning to Australia, sell your investment properties to reduce the amount of tax payable under capital gains tax. i.e. sell 1 property each financial year. Sell enough such that there would be no loan balance outstanding on your primary residence. Only 50% of the capital gain is taxable if the asset has been owned over 1 year, and there would be no other Australian income to push you into the higher Australian tax brackets while you are currently working in Asia. Keep the cash in AUD$ if you are worried about currency fluctuation and reduce the loan principal (or put into an offset account) of your primary residence.

Upon return to Australia, use the accrued tax credits to offset Australian salary income. Use the capital gains from the sale of your investment properties to eliminate any loan on your primary residence (because interest on a home loan for your primary residence is not tax deductible). Any surplus cash can be used to purchase a new investment property (for more negative gearing), or shares using a margin loan (for negative gearing). Only borrow money if the interest is tax deductible. Alternatively, any surplus cash can be left overseas for foreign investments that are unknown/untraceable by the Australian Tax Office.

Salary sacrifice into superannuation after all the accrued tax credits have been depleted to reduce your taxable income. Use a self-managed superannuation fund to purchase investment property or shares for your retirement. Do not pay fees/commissions to a fund manager.