Average weekly pay: $600 Employment size: 6,000 Future growth: Strong Skill level Bachelor degree or higher Actors,…
Money laundering is the process of transforming the profits of crime and corruption into ostensibly ‘legitimate’ assets, and the hiding of income/wealth from Governments to avoid taxation. Placing ‘dirty’ money in a service company, where it is layered with legitimate income and then integrated into the flow of money, is a common form of money…
Providing the following work related items to employees is tax deductible and FBT exempt: Portable electronic devices such as mobile phones, laptops, tablets, portable printers and GPS navigation receivers. Computer software. Protective clothing Briefcases. Tools of trade. Even when employees salary sacrifice the cost of the items with their employees they still benefit from saving…
Average weekly pay: $1,000 Employment size: 31,000 Future growth: Very Strong Skill level Certificate II or III Fitness instructors provide…
The Danegeld, or Dane tribute, was a tax raised to pay tribute to the Viking raiders to save a land from being ravaged. The tax was collected from the citizens and jointly used to buy off the attackers, and also pay the defence forces a wage. In 810 a Danish fleet of two hundred vessels…
Tax evasion or tax crime occurs when people abuse the tax and superannuation systems through intentional and dishonest behaviour with the aim of obtaining a financial benefit. Tax evasion often entails taxpayers deliberately misrepresenting the true state of their affairs to the tax authorities to reduce their tax liability and includes dishonest tax reporting, such…
Employer provided taxi travel that is a single trip beginning or ending at the employer’s place of work will be tax deductible to the employer and an FBT exempt benefit to the employee. This enables an employer to provide an employee with a single taxi trip to the office everyday, and then another single trip…
Mention the words ‘tax haven’ to the average taxpayer, and they immediately think of tropical islands, numbered bank accounts, and the rich, famous and shady, all evading tax. Their observations are correct, but only the tip of the iceberg, as tax havens are so much more. Tax havens are used by individuals, small businesses, large…
Strange as it may seem today, in Ancient Rome, urine was a valuable commodity. It was collected from the cesspools where the lower classes of society emptied their small pots, and the public toilets which the upper classes used, and recycled. The Roman’s used the urine to bleach/clean clothes, make leather soft, dye clothes, make…
Many tax haven banks offer attractive rates of interest to attract capital into the developing countries financial system. As developing countries are higher risk than developed countries, they must pay higher rates of interest to attract foreign investment. An example, of those higher risks is the 2012–2013 Cypriot financial crisis. The crisis was a result…
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2