Capital city: Kingston Currency: Australian dollar (AUD) Population: 2,210 (2014) Language: English and Norfuk Norfolk Island is a small island in…
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Tax planning strategy 186 A holding company is a parent corporation that owns enough voting shares in another company to control its policies and management. A holding company exists for the sole purpose of controlling one or several other companies. Holding companies also exist for the purpose of owning property such as real estate, patents,…
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Alphonse Gabriel “Al” Capone (c1899 – 1947) was an American gangster who attained fame during the Prohibition era as the co-founder and boss of the Chicago Outfit. He gained the nickname “Scareface” after being slashed in the face by Frank Gallucio while working the door at a Brooklyn night club. Capone was born…
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Capital city: Luxembourg City Currency: Euro (€) Population: 576,249 (2015) Language: French, German & Luxembourgish GDP …
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Tax planning strategy 188 A Child Maintenance Trust (CMT) is a special type of trust set up and established with income earning assets (typically shares or property) to provide support for a child (or children). Under the CMT deed the capital assets can only be distributed to the children for whose benefit the trust was…
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Mesopotamia is a name for the area of the Tigris–Euphrates river system (corresponding to most of Iraq, Kuwait, the eastern parts of Syria, and regions along the Turkish-Syrian and Iran–Iraq borders). Widely considered to be one of the cradles of civilization by the Western world, Bronze Age Mesopotamia included Sumer and the Akkadian, Babylonian, and…
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Capital city: Hong Kong Currency: Hong Kong dollar (HK$) Population: 7.3 m (93.6% Chinese) Language: Chinese & English GDP …
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This strategy is ideal for taxpayers who meet two criteria: They own a company with a franking account surplus (normally as the result of profits from operating a business or investments, the company paying tax and retaining those profits). The taxpayers (shareholders in the company) currently have nil or low taxable incomes (normally due to…
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The US is the world’s largest economy with a gross national product (the value of all goods and services produced) of $18.5 trillion. The US accounts for a massive 24.5% of the world economy. The election of Donald Trump as President of the US will bring many changes. Probably none more so than his promise…
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Capital city: Avarua Currency: New Zealand dollar (NZD) & Cook Islands dollar Population: 13,100 (2016) Language: Cook Islands Māori & English GDP: US $295.2 million (2016) The Cook Islands is…
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