Personal services income (PSI) is income produced mainly from an individual’s skills or efforts. It’s income that has the characteristics of employment income. For PSI income, the only deductions allowed against that income are expenses an employee would be entitled to deduct. If the personal services business (PSB) tests are passed, then taxpayers gain the…
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Personal services income (PSI) is income produced mainly from an individual’s skills or efforts. It’s income that has the characteristics of employment income. For PSI income, the only deductions allowed against that income are expenses an employee would be entitled to deduct. If the personal services business (PSB) tests are passed, then taxpayers gain the…
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Employee share schemes (ESS) give employees shares in the company they work for, or the opportunity to buy shares in the company. Employees generally pay for the shares through a loan from their employer, through salary sacrifice, an upfront payment, from employee bonuses, or by using the dividends received on the shares. An employee share…
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Self-publishing, a business book in your field of expertise, can have a myriad of direct benefits for you and your business. Done well, including professional design and editing, the benefits can include: Setting you apart from your competitors, and most importantly, adding a layer of credibility unattainable by almost any other means. You are elevating…
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Capital city: Macau Currency: Macanese pataca (MOP) Population: 650,900 Language: …
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Capital city: Beirut Currency: Lebanese pound (LBP) Population: 6,006,668 Language: Arabic GDP: …
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Public relations (PR) attempts to control the spread of information between a business and the public. PR uses free methods to reach a large targeted audience using topics of public interest and news items, rather than paid advertising. Public relations aim to inform the public, prospective customers, investors, partners, employees and other stakeholders and ultimately…
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An early-stage innovation company (ESIC) is a company that has high growth potential, can scale, addresses a broader than the local market, and has competitive advantages. ESIC companies can provide investors with the following tax incentives: A 20% non-refundable tax offset on investments, capped at $200,000 per investor per year. A capital gains tax exemption,…
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Capital city: Riga Currency: Euro (€) Population: 1,953,200 Language: Latviana GDP:…
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A discretionary trust (also known as a family trust) is a trust established to hold a family's assets or operate a business. Generally, they are established for asset protection and/or tax purposes. The benefits of a discretionary trust include: Flexibility on income distributions. The trustee decides before the 30th June each financial year how that…
Read More »"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2