A carbon tax is a tax on energy sources that emit carbon. Carbon is present in coal, petroleum, and natural gas and converted to carbon dioxide and other products when combusted. In contrast, wind, sunlight, geothermal, hydropower and nuclear are non-combustion energy sources and do not convert hydrocarbons to CO. The objective of a carbon…
English law is the preferred governing law for business transactions worldwide, as English law has a well-known, well-developed and reputable jurisprudence. In addition, because of the British Empire, English law is widespread as its former colonies have modelled their legal systems closely on English law. UK tax havens include the 14 British Overseas Territories (including…
Average weekly pay: $1,500 Employment size: 26,700 Future growth: Moderate Skill level Certificate III or IV …
We are pleased to announce that TaxFitness has been upgraded to include new features and functionality. October Release Highlights: Improved usability – A new menu layout and design which makes the software easier to use. New report – Occupation Deductions Report. This report explains the typical, and unusual, tax deductions that apply to the…
The Enterprise Investment Scheme (EIS) was launched in 1994 to encourage investments in small unquoted companies carrying on a qualifying trade in the United Kingdom. By their nature, unlisted companies are high risk and have low liquidity, so consequently have difficulty raising capital. The EIS was designed to offer investors tax relief to counterweight those…
Debt recycling is a three-tiered financial strategy that aims to generate future wealth, reduce the home loan, and minimise tax. Debt recycling achieves this by using the current home loan equity to invest (in shares, property and managed funds), and in the process turns non-deductible family home debt into tax-deductible debt. For debt…
There are 19 different reasons to use a tax haven, some legal, and some illegal. No doubt, there are many more, so when choosing a tax haven, we need to firstly look at our objectives – what are we really trying to achieve? Some of the objectives will be complementary (like saving tax and privacy),…
This strategy involves using the entertainment facility leasing provisions of the FBT Act to make owning and operating a boat or yacht as tax effective as possible. To achieve this, it should be structured as follows: Individual owns the boat or yacht. Individual leases the boat to the business entity on an exclusive basis for…
Objectives: Thomas is a plumber who wants to save tax so he can buy a new car. Facts: Thomas’s car was stolen 3 months ago and he is still waiting for an insurance payout. During this 3-month period Thomas borrowed his wife’s vehicle and travelled 5,000 work related km. Thomas’s wife also uses…
Bearer share companies are companies where the individual shareholders are not known to the company. The bearer share companies do not know anything about their shareholders—not their names, addresses, or the size of their shareholdings. Instead, each shareholder’s ownership in the bearer share company will be evidenced by their physical possession of a share certificate…
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2