Follow CCH Australia
"RT @AnneWardell: Is statutory liability insurance damaging? By Michael Tooma - http://t.co/ffB4eQmf17""RT @taxchat: Exposure draft on the Sustaining the Superannuation Contribution Concession measure — defining “end benefit”....""RT @taxchat: Did you know there are about 100 announced tax changes in the pipeline? #unenacted #taxmonitor""RT @taxchat: Living standards will fall if we don't tax rich more: Cousins http://t.co/eEvAgV6vwd #austax""Law Chat: Is statutory liability insurance damaging? By Michael Tooma http://t.co/aBjAE3mVTH"Follow TaxChat
"ATO issues updated #FATCA information and forms http://t.co/v66g8JeW0B""Minutes of ATO Individual Taxpayer Advisory Forum meeting http://t.co/FCjSzkqas9 #austax""Taxpayer in SCCASP Holdings as trustee for H&R Super Fund applies for special leave to HighCourt (special income) http://t.co/QOKHINHbba""Exposure draft on the Sustaining the Superannuation Contribution Concession measure — defining “end benefit”. http://t.co/630NPYmHXs""Did you know there are about 100 announced tax changes in the pipeline? #unenacted #taxmonitor"Advertisment
Author Bio
-
Subscribe via RSS
Category Archives: Budget
Shifting gears for quality growth in Singapore-Rebate for business
The recent Singapore budget has highlighted the need to change policies to cater for the needs of an advanced economy. The focus will be on higher productivity through innovation. Some of the measures introduced include: Properly tax rates will be increased for high value residential properties, especially for investment properties not occupied by their owners. Vacant properties will not have properly tax refunds from 1 January 2014. A corporate income tax rebate of 30% of the tax payable (maximum SGD 30,000 … Continue reading
Budget 2012: Handicapping the speech
In theory there’s not much difference between handicapping the budget and choosing the preferred runner in the Melbourne cup. The media analysts get rolled out for both; from Kohler to mitchell to gittins, and a few former politicians (Peter “He’s never delivered a surplus” Costello, Paul “Insert funny comment” Keating) have their say in Canberra and in the Cup case everyone else has their pick. And in both cases after a long generic cialis without prescription build-up and many speeches … Continue reading
Budget 2011- Securities lending – Lenders keepers
The Government will amend the tax rules for securities lending arrangements to ensure that the lender under a securities lending arrangement is treated as not having disposed of the lent securities where: the borrower does not return the securities, or identical securities, within 12 months due to the borrower’s insolvency; and no later than 30 days after the resulting default (or within such longer period that the Commissioner of Taxation allows), the lender restores their original position prior to the … Continue reading
The end of splitting?
Did the budget announcement removing the ability of minors with “unearned” income to use the low income tax offset kill off the splitting industry? The key question is “how low can you go?” No, not the treasurer, though I would still like a word with him about the old “no changes to superannuation pledge”, but the advisers. The old splitting regime saved a trustee, or a taxpayer at the top marginal rate, $3,333 per minor child. The saving came about … Continue reading
Budget 2011-Out of the shadow of Division 974
The government has indicated that it will be amending the integrity rule in Division 974 that deems an interest from an arrangement that funds a return through connected entities to be an equity interest under certain circumstances. The example in s 974-80 illustrates this situation: “Companies A,B1,B2 and B3 are connected entities. B1 operates a trust and issues an interest in the trust to H with the return on the interest being contingent on the economic performance of A. The … Continue reading
Budget 2011- No boost for savings
In the mad headlong rush to return the bottom line to surplus in double quick time, the Budget appears to have ignored providing incentives for household saving. There is nothing significant in it to encourage savings by households and individuals. In fact, not even reversal of some of the measures announced in recent past. The 50 percent tax discount on up to $1,000 interest earned by individuals that was in the 2010 budget was postponed to July 2012 with a … Continue reading
UK non-doms: an efficient CFC carve-out?
The recent budget delivered in the UK proposes to raise the tax payable by non-UK domiciled taxpayers. Under the measures non-UK domiciled taxpayers who have been UK residents for 12 or more years will be subject to a charge of 50,000 pounds, a large increase from the current level of 30,000. The scheme when first introduced by the Finance Act 2008 guaranteed remittance based taxation in case of individuals who have been in the UK for more than 7 of … Continue reading
Singapore’s ‘good news’ budget – Lessons to learn
The recent budget in Singapore contained several tax relief measures, especially a 20 percent one-off rebates to individuals and companies. For individuals the rebate will be capped at $ 2,000 pre taxpayer and will be available to those with chargeable income less than $ 120,000. Companies could claim the higher of a tax rebate of 20 percent, subject to a maximum of $ 10,000 or cash grant of 5 percent of its revenue, capped at $ 5,000. Companies The budget … Continue reading
The ‘ifs’ of an uncertain surplus
In the beginning there was only one economist and no economic theories. Then it got crowded and turned murky and muddy. Two of his first pupils were expelled and his son ended up teaching the class. Economists got politicised, polarised and pulverised by non-economists. Then came the quants and the Wall Street “Gekkos” with algorithms ticking in their back pockets. The rest is history – the GFC (Global Financial Conundrum). Will the current turmoil end in the short term or … Continue reading
