Capital city: Dublin Currency: Euro (€) & Pound Sterling Population: 6.4 million Language: English, Irish, Ulster Scots Dutch GDP …
Read More »Taxpayers operating a winery receive all the standard business deductions plus the additional primary production related deductions including: Immediate deduction for the cost of fencing and water facilities such as dams, tanks, bores, irrigation channels, pumps, water towers and windmills. Access to the Farm Management Deposit Scheme. Tax averaging. In addition, since 2004 wine makers…
Read More »Tax avoidance has been around as long as taxes. One historic example of tax avoidance still evident today was the payment of window tax. It was introduced in England and Wales in 1696 with the aim of imposing tax on the relative prosperity of individuals as the bigger the house, the more windows it was…
Read More »Capital city: Hamilton Currency: Bermudian dollarc (BMD) Population: 64,237 Language: English GDP: …
Read More »Investment Loss (TNIL) is an individual’s taxable losses from rental and share investments. The TNIL is added back to an individual’s taxable income to calculate the tax related concessions and obligations for: Medicare levy surcharge. 15% additional tax on concessional contributions (Division 293). Child support payments. $1,000 up-front reduction for discounts on employee shares/options. Senior…
Read More »The Minerals Resource Rent Tax (MRRT) was a tax on profits generated from the mining of non-renewable resources in Australia. The tax, levied on 30% of the ‘super profits’ from the mining of iron ore and coal in Australia, was introduced on 1 July 2012. Supporters of the tax pointed to continually-large profits produced by…
Read More »Capital city: Nassau Currency: Bahamian dollar (BSD) Population: 372,000 Language: English GDP …
Read More »This tax strategy allows an employee, who is also separately carrying on a business as a sole trader, to claim depreciation on the cost of an asset in their business that has been fully reimbursed by their employer. This strategy involves ‘double dipping’ as the employees business depreciation claim is unaffected by their employer…
Read More »The Commonwealth legislated that their income tax take priority over any State income tax and that any State retiring from income tax collection be paid a grant in compensation for lost revenue. The States rejected this tax takeover but the High Court ruled that the Commonwealth income tax legislation was valid, essentially giving the Commonwealth…
Read More »Our website has been live for less than six months and we are already on the first page of Google, position 4 for tax planning. This was not achieved with SEO tricks. We offer visitors unique, comprehensive, accurate, and useful information on tax planning in Australia. Within a few months we are now second only…
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