Tax Havens

Nevada

2 June 2017

Capital city:               Carson City     Currency:                    US dollar         Population:                2.94 million   Language:                  English   GDP      …

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Tax Planning Strategy 131 | Companies

1 June 2017

The advantages of operating a business through a company include: 30% tax rate (standard company tax rate) 27.5% tax rate for companies with a turnover less than $10m pa. (The turnover thresholds increase to $25m in 2017/18 and $50m in 2018/19). By 2026/27 the company tax rate for companies with a turnover less than $50m…

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Seychelles

26 May 2017

Capital city:                Victoria    Currency:                    Seychellois rupee (SCR)         Population:                92,000  Language:                  English, French & Seychellois Creole   GDP    …

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Tax Planning Strategy 1 | Salary Packaging Private Motor Vehicle Expenses

24 May 2017

When a motor vehicle is used 100% for private purposes there is normally no tax deduction available on the expenditure. With this strategy an employee can generate annual tax savings of $2,500 – $3,000 pa by salary packaging their private motor vehicle with their employer.  The tax savings result from the motor vehicle tax concessions…

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San Marino

19 May 2017

Capital city:               City of San Marino    Currency:                    Euro (EUR)          Population:                33,285  Language:                  Italian & English   GDP    …

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Tax Planning Strategy 172 | Antique, Veteran or Vintage Car

18 May 2017

The purchase of an antique, veteran or vintage car for use in a business will provide the normal depreciation and operating deductions. This will be subject to the luxury car limit and log book obligation for business use. Motor vehicles, including antique, veteran & vintage cars, are exempt from capital gains. This is a win…

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Gibraltar

12 May 2017

Capital city:             Gibraltar Currency:                Sterling or Gibraltar Pounds Population:             32,194 Language:              English and Spanish. The local dialect is a mixture of the two and is known as ‘Yanito’  GDP:    …

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Tax Planning Strategy 168 | Business Trips for Employees and Spouses

11 May 2017

Business travel involves being away from home for at least one night for business purposes. This is to be contrasted with other types of private travel such as for leisure purposes or regularly commuting between one’s home and workplace. Reasons for business trips include visiting customers or suppliers, meetings at other company locations, professional development…

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Austria

5 May 2017

Capital city:                Vienna     Currency:                    Euro (€)       Population:                 8.7 million   Language:                  Austrian & German    GDP    …

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Tax Planning Strategy 170 | Amend Prior Years Tax Returns

4 May 2017

It is good practice to review the prior year’s tax returns of all new clients to see whether any allowable deductions have been omitted from the return. If allowable deductions have been omitted (and can be substantiated) and the time limits on income tax amendments are met, the prior year’s returns can be amended. The…

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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