Tax Havens

Bahamas

7 July 2017

Capital city:               Nassau     Currency:                   Bahamian dollar (BSD) Population:               372,000   Language:                 English    GDP                …

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Tax Planning Strategy 163 | Salary Packaging Business Assets to Double Dip

6 July 2017

  This tax strategy allows an employee, who is also separately carrying on a business as a sole trader, to claim depreciation on the cost of an asset in their business that has been fully reimbursed by their employer. This strategy involves ‘double dipping’ as the employees business depreciation claim is unaffected by their employer…

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Grenada

30 June 2017

Capital City:                           St George’s Currency:                               East Caribbean Dollar Population:                           110,000 Language:                             English (official), Grenadian Creole English and Grenadian Creole French (regional) GDP:    …

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Tax Planning Strategy 167 | In-house Recreation Facilities

29 June 2017

The cost of providing in-house recreation facilities to employees is deductible if it is located on the employer’s premises. Examples of in-house recreational facilities are a tennis court, a swimming pool, gymnasium or games room provided on an employer’s premises for staff use on work days.  The employer can claim a deduction for the expenses…

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Curacao

23 June 2017

Capital city:               Willemstad     Currency:                   Netherlands Antillean guilder (ANG)        Population:               158,986   Language:                  Dutch, Papiamentu & English   GDP  …

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Tax Planning Strategy 85 | $20,000 Asset Write-Off

21 June 2017

  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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Belgium

16 June 2017

Capital city:               Brussels     Currency:                   Euro (€) (EUR) Population:               11.25 million   Language:                 Dutch, French & German   GDP        …

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Tax Planning Strategy 166 | Exempt Childcare Benefits

15 June 2017

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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Liberia

9 June 2017

Capital city:               Monrovia    Currency:                   Liberian dollara (LRD)        Population:               4.7 million   Language:                 English   GDP          …

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Tax Planning Strategy 164 | Remote Area Housing

8 June 2017

  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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"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"

- Bono: U2