The double Irish tax strategy has been used since the late 1980s by some multinational corporations (including Apple, Google, Microsoft and Facebook) to lower their corporate tax liability. The strategy uses payments between related entities in a corporate structure to move income from a higher-tax country to a lower or no tax jurisdiction. It relies…
The Singapore Sling is a gin-based cocktail from Singapore that was developed in 1915 by Ngiam Tong Boon, a Hainanese bartender working at the Long Bar in Raffles Hotel, Singapore. It was initially called the gin sling – a sling was originally an American drink composed of spirit and water, sweetened and flavored. BHP Billiton…
Tax planning strategy 184 This strategy involves a SMSF investing in non-controlled unit trusts or companies. As the entities are non-controlled entities they can operate businesses, be geared, and invest without breaching the SIS legislation. This structure allows multiple unrelated SMSFs to invest in these entities and have the trust distributions, dividends, and capital gains…
Tax planning strategy 181 Australia now has over 570,000 self-managed super funds (SMSFs) that hold $600 billion of investments. The ‘average’ super fund now has a balance of over $1 million, although 45% of funds have less than $500,000 of assets. The SMSF segment is fast growing and now accounts for 29.1% of the…
This strategy involves directing business or investment income across to a taxpayer’s loss-company or trust. Loss companies and trusts are entities that have either unapplied revenue tax losses or capital losses. These losses may have been incurred as the result of previously operating a business at a loss or having investment losses on shares…
Capital city: Alofi Currency: New Zealand dollar (NZD) Population: 1,470 (predominantly Polynesian) Language: Niuean (official) 46% & English 43% GDP: $15 million (Est) Niue is one of the world’s largest coral islands and is located in the South Pacific Ocean, east of Tonga. It’s known for its limestone cliffs,…
Tax planning strategy 182 The central feature of a tax haven is that its laws and other measures can be used to evade or avoid the tax laws or regulations of other jurisdictions. Although there is no universally accepted definition of tax havens the following characteristics are indicative of it: No or nominal taxes.…
Have 5 different Tax Planning leaflets on display in the reception area of your office. Some clients will then pick them up and read them while waiting for their appointment. The leaflet series details tax planning options for: Rental Property Owners, Small Business Owners, Buying/Selling/Starting a Business, Employees, Investors and Retirees. Include a Tax Planning…
Netflix Inc. is an American multinational entertainment company founded in 1997, in California by Reed Hastings and Marc Randolph. It specializes in streaming media and video on demand online and now has 86 million subscribers world-wide. In 2013, Netflix added film and television production, as well as online distribution debuting its first series, House…
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"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2