Capital City: St George’s Currency: East Caribbean Dollar Population: 110,000 Language: English (official), Grenadian Creole English and Grenadian Creole French (regional) GDP: …
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The cost of providing in-house recreation facilities to employees is deductible if it is located on the employer’s premises. Examples of in-house recreational facilities are a tennis court, a swimming pool, gymnasium or games room provided on an employer’s premises for staff use on work days. The employer can claim a deduction for the expenses…
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The federal government introduced payroll tax in 1941 at 2.5% of wages to finance a national scheme for child endowment. In 1971, the federal government handed over payroll taxes to the states and they promptly increased the rate to 5%. Tax competition between states and lobbying by individual employers and employer groups for exemptions has…
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Capital city: Willemstad Currency: Netherlands Antillean guilder (ANG) Population: 158,986 Language: Dutch, Papiamentu & English GDP …
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Small businesses can claim a tax deduction for depreciable assets they purchase for their business provided they cost less than $20,000 each. This measure started on 12th May 2015 and ceases on 30th June 2018. Examples include cars, furniture, art work, coffee machines, etc. With this strategy purchasing a $20,000 depreciable asset for the…
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A federal government income tax was introduced in 1915, in addition to existing state income taxes, to finance involvement in the First World War. The tax was designed by the Australian statistician, Sir George Knibbs, and was levied on individual taxpayers at progressive rates. Although rates of tax imposed ranged from 3% – 25% the…
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Capital city: Brussels Currency: Euro (€) (EUR) Population: 11.25 million Language: Dutch, French & German GDP …
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Childcare expenses are not tax deductible to employees as they are considered private in nature. If provided by an employer they are subject to FBT unless they are deemed exempt childcare benefits. Childcare benefits provided by an employer will be exempt from FBT under section 47(2) FBTAA where the employer has In-house childcare facilities. Salary…
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At Federation in 1901, the Australian Constitution granted the Commonwealth a monopoly of customs duties and excises and the power to levy other taxes concurrently with the States. One of the significant results of Federation was the removal of all duties on goods traded between Australian states. By Federation, many of the colonies had introduced…
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Capital city: Monrovia Currency: Liberian dollara (LRD) Population: 4.7 million Language: English GDP …
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