Holding a Christmas party on business premises during work hours is the most tax effective option for businesses. The cost of a light meal and drink will be tax deductible to the employer with no FBT liability incurred. The meal can be several courses and include a variety of foods, but must exclude alcohol. In…
Read More »
A captive insurance business is an insurance company that is wholly owned and controlled by the insured. The company’s objectives are to provide themselves with better insurance coverage at lower costs (by avoiding the commercial insurer’s expenses and profit margins). Cayman Islands is a leading offshore domicile for captive insurance companies as it has modern…
Read More »
This strategy makes private pet ownership costs tax deductible (under certain circumstances). Having pets in the workplace involves the employer acquiring pets for the workplace (whether an office, factory or warehouse). The pets could be the standard, cat, dog, fish, ferret, bird, snake, or any other pet really. The business benefits of pets in the…
Read More »
Eighty percent of the world’s hedge funds worth US$800 billion are domiciled in the Cayman Islands. Hedge funds have been attracted to the Cayman Islands due to their balanced regulatory framework (which recognises the purchasers of hedge funds are sophisticated investors), absence of unnecessary licencing provisions, and significant flexibility with regard to investment objectives, risks,…
Read More »
Pooled development funds (PDFs) are eligible investment companies that are registered under the Pooled Development Funds Act 1992 (PDF Act) and which provide equity capital to Australian small and medium sized companies. The taxable income of a PDF that is comprised of capital gains and assessable income from, or from the disposal of, SME investments…
Read More »
Many companies have established entities in tax havens as they operate trading businesses in those tax havens servicing the local population. Telstra, for example, controls 20 subsidiaries across five tax havens, including Jersey and Mauritius. Telstra uses several of these tax haven entities to provide telephone services to the local population.
Read More »
Undertaking a property development in a SMSF can result in zero tax payable if the fund is in the pension phase (or 15% if the fund is in the accumulation phase). Extra care must be undertaken to ensure that the super fund complies with the SIS Act, including all of the following: The arm’s length…
Read More »
The General Corporation Law (Title 8, Chapter 1 of the Delaware Code) is the statute governing corporate law in the U.S. state of Delaware. It has been the most important jurisdiction in United States corporate law since 10th March 1899 when it enacted corporate-friendly laws to attract businesses from New York. The general incorporation…
Read More »
The Junior Mineral Exploration Tax Credit (JMETC) encourages non-mining investors to invest in exploration companies and help fund their exploration activity. The JMETC allows mining companies undertaking exploration to renounce their deductions for exploration, and pass the benefits of those deductions onto shareholders. The shareholders can then use the credits to reduce their tax payable…
Read More »
Without political and economic stability, no amount of tax inducement can bring in outside investors. No company or individual, whether local or international, will feel comfortable making any kind of capital investment in any country where the political climate is characterised by upheavals and a lot of uncertainty. African instability itself explains why Africa still…
Read More »Similar posts you may like
- No sales tax in Palau
Capital city: Ngerulmud Currency: Read more
- Bahamas
Capital city: Nassau Currency: Bahamian dollar Read more
- Gambia
Capital city: Banjul Currency: Read more
- Tax Savings Strategy 219 | Avoid the Luxury Car Tax
The luxury car tax (LCT) is a tax on cars with a GST inclusive value above the LCT threshold ($66,331 as at 2018/19). LCT 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