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 …
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A remote area housing benefit is an exempt benefit under section 58ZC of the Fringe Benefits Tax Assessment Act 1986. If a housing benefit is deemed a remote area housing benefit the employer can claim a tax deduction for the employees housing costs, and no FBT is payable. This converts an employee’s private housing…
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Tasmania was the first state to introduce an income tax in 1880 to raise revenue due to a fiscal crisis. The tax took the form of a withholding tax on distributed income of companies. In 1884, a general tax on income was introduced in South Australia, and in 1895 income tax was introduced in…
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Capital city: Carson City Currency: US dollar Population: 2.94 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