Capital city: Dublin Currency: Euro (€) & Pound Sterling Population: 6.4 million Language: English, Irish, Ulster Scots Dutch GDP …
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Taxpayers operating a winery receive all the standard business deductions plus the additional primary production related deductions including: Immediate deduction for the cost of fencing and water facilities such as dams, tanks, bores, irrigation channels, pumps, water towers and windmills. Access to the Farm Management Deposit Scheme. Tax averaging. In addition, since 2004 wine makers…
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Capital city: Hamilton Currency: Bermudian dollarc (BMD) Population: 64,237 Language: English GDP: …
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Investment Loss (TNIL) is an individual’s taxable losses from rental and share investments. The TNIL is added back to an individual’s taxable income to calculate the tax related concessions and obligations for: Medicare levy surcharge. 15% additional tax on concessional contributions (Division 293). Child support payments. $1,000 up-front reduction for discounts on employee shares/options. Senior…
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Capital city: Nassau Currency: Bahamian dollar (BSD) Population: 372,000 Language: English GDP …
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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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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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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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Capital city: Brussels Currency: Euro (€) (EUR) Population: 11.25 million Language: Dutch, French & German GDP …
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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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"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2