Individual Wealth – Free Bassuk http://freebassuk.com/ Wed, 19 Jan 2022 00:39:38 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://freebassuk.com/wp-content/uploads/2021/07/icon.png Individual Wealth – Free Bassuk http://freebassuk.com/ 32 32 With rate hikes looming, investors are dumping money-losing company stocks https://freebassuk.com/with-rate-hikes-looming-investors-are-dumping-money-losing-company-stocks/ Tue, 18 Jan 2022 23:09:00 +0000 https://freebassuk.com/with-rate-hikes-looming-investors-are-dumping-money-losing-company-stocks/ Moonshot actions return to Earth. As the Federal Reserve nears an interest rate hike, investors are reassessing their bets on one of the riskiest corners of the market: stocks of companies that aren’t making money. Money-burning tech companies, biotech companies without any approved drugs, and startups that quickly listed via mergers with blank check companies […]]]>

Moonshot actions return to Earth.

As the Federal Reserve nears an interest rate hike, investors are reassessing their bets on one of the riskiest corners of the market: stocks of companies that aren’t making money. Money-burning tech companies, biotech companies without any approved drugs, and startups that quickly listed via mergers with blank check companies — some of which have soared during the pandemic — have fallen sharply.

An analysis of Wall Street Journal data shows that as signals from Fed officials and continued readings of high inflation made it more clear that rate hikes were imminent, stocks of unprofitable companies in the Nasdaq composite index slipped while their profitable counterparts traded nearly flat. On average, loss-making companies in the analysis have slipped 28% since the September 30 market close through Tuesday. Profitable companies in the index fell slightly by an average of 0.7% over the same period.

The Journal’s analysis identified loss-making companies as having less than zero earnings per share for at least the past four quarters combined. It excluded blank check companies that did not merge with a target and some companies for which FactSet did not identify earnings per share figures for the past four quarters.

Fed officials have indicated they are accelerating their schedule of interest rate hikes, potentially as early as March, to combat runaway inflation. Many investors value stocks based on the present value of future corporate earnings. When interest rates rise, eroding that future value, it becomes less attractive to make high-priced bets on businesses that may not be profitable in years to come.

“Within our team, we’re thinking, ‘Should we ditch some of these high-growth areas that may be sensitive to rising rates and focus on battered and undervalued areas of the market?’ said Emerson Ham III, senior partner at Sound View Wealth Advisors.

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The performance of riskier growth stocks, which aim to deliver strong earnings growth going forward, also lagged broader indices in the latter part of 2021. The Nasdaq CTA Internet Index, for example, fell 18% from September 30 to Tuesday. The Nasdaq Composite gained 0.4% over the same period, while the S&P 500 gained 6.3%.

The Fed’s hawkish policy is driving a rotation into stocks that generate above-average dividend yields, like areas like banks and insurance, said Jonathan Garner, chief Asia and emerging markets strategist based in Hong Kong at Morgan Stanley.

“It’s playing out globally, and we expect it to continue,” Garner said.

Portfolio managers may also seek exposure to economically sensitive companies, said Jordan Kahn, chief investment officer of ACM Funds.

“There will be a little more accountability with some of these very high value stocks,” Kahn said.

Shares of some unprofitable companies had soared earlier in the pandemic when their business was boosted by shutdowns and social distancing measures. Shares of electronic signature software maker DocuSign Inc.,

DOCUMENT -2.40%

which surged at the start of the pandemic as businesses adapted to remote and paperless environments, hit an all-time closing high of $310.05 on September 3 but has since fallen 59%. DocuSign has posted a loss every quarter it has reported as a public company since its April 2018 IPO.

Shares of Rivian Automotive, which posted a loss of $1.23 billion in the third quarter, have fallen 54% since mid-November.


Photo:

Brian Cassella/Zuma Press

Actions of the electric vehicle manufacturer

Rivian Automotive Inc.,

BANK -8.49%

which went public in November and posted revenue of $1 million and a loss of $1.23 billion for the third quarter, peaked at $172.01 in mid-November but has since fallen 57% .

Robinhood Markets Inc.,

HOOD -5.08%

which became popular among individual investors during meme-stock mania, maintains a loyal fanbase and its stock has been volatile since its debut. After its IPO in July, shares soared to $70.39 in August, but have since fallen 80%.

The global race to vaccinate the world against Covid-19 had biotech stocks rallying at the start of the pandemic. But in the world of biotech, where clinical trials and regulatory decisions can make or break a company’s value, companies can lose money for years waiting for treatments to move through their pipelines. Many may never make any money at all. The Nasdaq Biotechnology Index has fallen 17% since September 30.

Robinhood Markets maintains a loyal fanbase but has yet to see a profit.


Photo:

Amir Hamja for the Wall Street Journal

Easy monetary policy partly fueled the rush into growth stocks, making it easier for companies to borrow cash at low rates.

“In a rising rate environment, it’s more difficult for them to borrow money and do other things to invest in growth,” Greg Bassuk, managing director of AXS Investments, said of the growing businesses.

The rout has also particularly pushed down companies making their public market debut through special-purpose acquisition companies, also known as blank check companies, which raise funds in an effort to seek out a target. with which to merge and become public. Although one of the hottest trades on Wall Street at the start of 2021, SPACs have fallen from their highs.

Starting Nikola Electric Trucks Corp.

NKLA -8.43%

, which went public via a SPAC, was down 35% last year and down 13% since Sept. 30. , has fallen around 26% in 2021 overall and is down 17% since Sept. 30.

Last year, the US dollar saw its biggest increase in value since 2015. That’s good for many US consumers, but it could also hurt stocks and the US economy. The WSJ’s Dion Rabouin explains. Photo illustration: Sebastian Vega/WSJ

“For some of them, it could be bad fundamentals; some might be pre-revenue companies that just aren’t profitable yet,” said Sylvia Jablonski, co-founder and chief investment officer of Defiance ETFs, of the forces behind some companies’ stock sell-offs in growth. Some investors who have driven up the prices of these companies, such as retail traders, have also taken a break from SPAC investments and turned to other assets like cryptocurrencies, Ms Jablonski added.

Unprofitable traditional IPOs also generated lower first-day returns in 2021, according to analysis by University of Florida finance professor Jay Ritter. About three-quarters of the more than 300 operating companies tracked by Prof Ritter that went public in the US had earnings per share below zero, and they delivered an average first-day return of 30% in 2021, compared to 45.3% among a smaller pool of companies in 2020.

With valuations still frothy, the bar is high for unprofitable companies to deliver the results they promised, said Tim Murray, financial markets strategist at T. Rowe Price Group. Inc.

multi-asset division. Investors are likely to be more selective in investing in growth companies, profitable or not, in 2022 in a tougher economic environment, Murray added. He said he favored certain sectors, such as consumer staples and utilities, which will do well as the economy moves past its pandemic rebound and moves toward normalization.

“We’re probably even more selective and more concerned about that right now,” Murray said of unprofitable growth stocks. “These stocks used to be a bit cheaper than they are now, and now the bar for them is already very high.”

Write to Dave Sebastian at dave.sebastian@wsj.com

Copyright ©2022 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

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New Report Reveals Kenya’s 5 Richest People and Their Wealth [LIST] https://freebassuk.com/new-report-reveals-kenyas-5-richest-people-and-their-wealth-list/ Mon, 17 Jan 2022 06:06:28 +0000 https://freebassuk.com/new-report-reveals-kenyas-5-richest-people-and-their-wealth-list/ A new report has listed the five richest people in the country. According to the report, the five – individuals and families – control more wealth than millions of TBEN across the country. Oxfam International’s report released on Monday January 17 states that Sameer Naushad Merali, who is the son of the late billionaire Naushad […]]]>

A new report has listed the five richest people in the country. According to the report, the five – individuals and families – control more wealth than millions of TBEN across the country.

Oxfam International’s report released on Monday January 17 states that Sameer Naushad Merali, who is the son of the late billionaire Naushad Merali, is the richest individual in the country, sitting on a fortune of 89.6 billion Ksh (790 millions of dollars).

Merali is followed by Bhimji Depar Shah, who founded Bidco Group of Companies, and controls a fortune of 85 billion Ksh ($750 million).

Sameer Group CEO, Sameer Merali.

Samer Group

Other wealthy people in the country’s top five include textile manufacturer Jaswinder Singh Bedi with a wealth of Ksh 77.1 billion ($680 million), President Uhuru Kenyatta (and by extension the Kenyatta family) whose wealth amounts to 60 billion Ksh (530 million dollars). ). and Mahendra Rambhai Patel with 48.7 billion Ksh ($430 million).

“The two richest people have more wealth than 16.5 million TBEN.

“Between 2016 and 2021, the number of individuals with wealth above $50 million (Ksh 56.7 billion) increased from 80 to 120. Their combined wealth increased from $12.73 billion to 17 $.4 billion, an increase of 36.8%, adjusted for inflation,” the report read in part.

Most of Merali’s wealth comes from real estate, manufacturing, and banking, among other income-generating businesses.

Sameer’s father still holds the record of earning up to Ksh 1.6 billion in just one hour due to his business acumen.

textile manufacturer Jaswinder Singh Bedi.

To file

In 2000, Merali owned 40% of telecommunications giant Airtel (then known as KenCell Communications), with French company Vivendi owning the rest.

When his business partner decided to quit in 2004, Merali convinced his partner Vivendi, which held the majority of shares, to sell their 60% stake to him for Ksh 230 billion.

An hour later, Merali sold the 60% stake to billionaire Mo Ibrahim’s Celtel with a profit margin of Ksh 1.6 billion.

The Kenyatta family, which tops the wealth list, has investments in various markets including banking, manufacturing, processing and telecommunications, among others.

Overall, Africa has 19 dollar billionaires, none of whom are from Kenya. The richest person in Africa is Aliko Dangote with a wealth of 8.3 trillion Ksh ($73.4 billion).

File photo of First Lady Margaret Kenyatta and Sameer Africa founder Naushad Merali

File photo of First Lady Margaret Kenyatta and Sameer Africa founder Naushad Merali

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The London Stock Exchange offers special listings for private companies https://freebassuk.com/the-london-stock-exchange-offers-special-listings-for-private-companies/ Sat, 15 Jan 2022 12:12:00 +0000 https://freebassuk.com/the-london-stock-exchange-offers-special-listings-for-private-companies/ The London Stock Exchange LSEG 0.03% The group is seeking to blur the line between public and private companies, as part of a plan to attract fast-growing tech companies to list in the UK in the wake of Brexit. The LSE has proposed the creation of a special market allowing private companies to trade their […]]]>

The London Stock Exchange LSEG 0.03%

The group is seeking to blur the line between public and private companies, as part of a plan to attract fast-growing tech companies to list in the UK in the wake of Brexit.

The LSE has proposed the creation of a special market allowing private companies to trade their shares publicly on the stock exchange on certain days, according to a person familiar with the matter and the LSE’s proposals to its regulators, the Financial Conduct Authority and the UK . Treasury, seen by the Wall Street Journal.

Shares of private companies would trade publicly between one and five days in each trading window, once a month or quarterly, or every six months. The companies would not be subject to the same degree of regulatory oversight as a fully-listed company, requirements which the startup founders say are a deterrent to listing shares.

“The new venue type would act as a stepping stone between private and fully public markets,” the LSE wrote in a document it sent to the FCA and the Treasury on December 21. It “should be seen as an improvement on current options”. available to companies looking to raise capital without imposing regulations that will hinder growth.

Startup founders, their employees, and early-stage investors could raise money by selling shares to retail and institutional investors. Large private companies could also access the public market under the proposal. Tech companies such as banking app Revolut, buy-it-now giant and later Klarna and money transfer startup Wise could have used this route to raise money for their shareholders, the LSE said in the proposal.

An LSE representative said there is “potential for additional market access routes to support the widest range of businesses throughout their funding life cycle, including helping them transition from market private to the public market and even vice versa”.

The program would require regulatory approval and legislative changes.

Representatives of the FCA and the UK Treasury declined to comment.

The proposal comes as the UK seeks to reshape its financial markets after leaving the European Union in 2021. In November, the UK government gave the FCA, its main financial law enforcement organisation, a secondary mandate to promote the competitiveness in the financial sector in addition to maintaining financial stability and consumer protection.

London has struggled to attract fast-growing start-ups, with tech firms typically choosing to list in the US or Asia. The recent boom in special purpose acquisition companies, or SPACs, has largely taken place in the United States. The UK overhauled listing rules last year in a bid to make London more attractive to tech companies and SPACs.

The LSE has suffered a longer-term decline in the number of companies listed on its stock exchange, with the total amount falling to 1,989 in 2020 from 2,365 five years earlier. Last year saw a moderate reversal, with listed companies rising to 2017.

Under the LSE proposal, companies would be allowed to trade private shares between public trading windows. Under the proposal, companies could also share inside information with key stakeholders during these periods without having to disclose it publicly.

Ahead of a public trading window, the company would be required to issue a “cleansing statement” disclosing material information, which aims to level the playing field, the LSE wrote.

The LSE named the idea “MTF-lite,” drawing on an industry term for a financial market known as a multilateral trading system. If it goes ahead, it would be the first exchange with this type of hybrid model for private companies to periodically access public investors.

There are markets for private stocks in the United States, run by the Nasdaq Inc.

and a number of competing startups such as Forge Global Inc. and EquityZen Inc.

But these trading platforms are not accessible to most individual investors. Under current U.S. Securities and Exchange Commission regulations, they are limited to accredited investors, meaning people who meet certain wealth criteria, such as having a net worth of more than $1 million out of home or annual income over $200,000.

In the United States, the SEC is working on a plan to further force disclosure of the finances and operations of private companies due to concerns about a lack of oversight in the fast-growing segment of the market, The Wall Street Journal reported.

Write to Anna Hirtenstein at anna.hirtenstein@wsj.com

Copyright ©2022 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

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We need knowledge to fight the injustice of our tax system https://freebassuk.com/we-need-knowledge-to-fight-the-injustice-of-our-tax-system/ Thu, 13 Jan 2022 23:00:00 +0000 https://freebassuk.com/we-need-knowledge-to-fight-the-injustice-of-our-tax-system/ OPINION: When the government asks the rich to obey the law, sometimes they just laugh. A multi-millionaire claimed last year that $15,000, the likely fine for not complying with Inland Revenue demands, was “frankly just a night on the town”. It is a vignette of a budding battle between tax officials, acting at the behest […]]]>

OPINION: When the government asks the rich to obey the law, sometimes they just laugh. A multi-millionaire claimed last year that $15,000, the likely fine for not complying with Inland Revenue demands, was “frankly just a night on the town”.

It is a vignette of a budding battle between tax officials, acting at the behest of Revenue Minister David Parker, and New Zealand’s wealthiest citizens. It’s a battle in which the stakes include our ability to determine fundamental issues of fairness and to ensure that the wealthy follow the same rules as everyone else. It’s also a battle in which seemingly obscure efforts to collect data have profound democratic implications.

The latest skirmish will unfold this month as Inland Revenue writes to around 400 New Zealanders, worth over $20 million each, asking for initial details of their assets and liabilities, what they own and must. Sound intrusive? Not really, because that’s the kind of data that thousands of ordinary Kiwis provide on a regular basis.

Every three years around 5,000 of us meet with Statistics NZ surveyors to complete the ‘net worth’ section of the Household Economic Survey, explaining the value of our homes, investments, cars and other items, as well than our mortgages and loans. card debts. Our answers, extrapolated to the entire population, help answer one of the most fundamental questions facing any society: is life fair?

READ MORE:
* Inland Revenue says questions from the wealthiest New Zealanders are coming
* Revenue Minister David Parker clashes with National over death and taxes
* Many ultra-rich Americans pay virtually no income tax
* New Zealanders don’t want the wealthiest to pay less tax than the poorest, says Green Party
* More than 40% of millionaires pay lower tax rates than the lowest earners, government data reveals
* New Zealand’s trillion dollar wealth gap: Who are we leaving behind?

Our wealth, after all, does much to determine whether we can achieve our ambitions. So we need to know if wealth is distributed fairly – if, in other words, it matches people’s efforts and contributions to society.

Based on the 5000 responses above, statisticians estimate that the top 1% owns 20% of all assets. Their typical net worth is around 70 times that of the average New Zealander, an already disproportionate sum.

There is a catch, however: almost none of the 5000 will be extremely wealthy. One year, the largest fortune studied was 20 million dollars, in a country with several billionaires. The very wealthy are certainly few in number, but there is also a more insidious reason for their absence: they often simply refuse to participate. Perhaps they fear (wrongly) that the information will be misused; perhaps they do not consider themselves bound by the same responsibilities as others.

Internationally, this is known as the “rich shy” phenomenon, and it means household surveys underestimate inequality. Statisticians can try to fill the data gap using the rich list or other methods, increasing the estimated share of the top 1% from 20% to 24-25%.

Better than the estimates, however, these are the actual data. And that’s one of the reasons the Inland Revenue writes to the very wealthy: to get them to provide the same information as ordinary New Zealanders willingly volunteer.

The distribution of wealth, in turn, affects the amount of taxes people pay. The Inland Revenue estimates that 40% of New Zealand’s wealthiest people pay a lower rate of tax than those earning the minimum wage. Officials say the wealthy receive much of their income in the form of capital gains, which are barely taxed.

Again, this is just an estimate. Again, officials are justified in asking detailed questions about people’s wealth, so we can definitively establish how that changes and what capital gains they enjoyed. This helps us better understand how much of their income each group pays in taxes and whether the system works fairly.

Some of the wealthy, accepting this point, are cooperative. But not all. Our $15,000 a night friend above can flaunt his contempt by simply obstructing officials. Others are talking about hiring QCs (just like the infamous Wānaka couple who broke lockdown did) and launching a judicial review. Big law firms line up for work. (How many cases, I wonder, do these companies take on of recipients complaining about government demands for their data?)

It is true that the law authorizing the Inland Revenue to carry out these investigations was adopted in a hurry. It’s inappropriate – but not illegal. And the Inland Revenue, which for years has had a special unit dealing with disputes with “high value individuals”, will be well prepared for any court case.

Max Rashbrooke:

Rosa Woods / Stuff

Max Rashbrooke: “…officials are justified in asking detailed questions about people’s wealth, so that we can definitively establish how it changes and what capital gains they have enjoyed.”

This saga, which will unfold over the next two years, recalls the old maxim: knowledge is power. If we as a society can better understand where the wealth lies and how the tax is paid, we will be in a much stronger position to correct the injustice revealed by this data.

Not all rich people want that. But few New Zealanders will be moved by the Rich Listers’ claim of government intrusion, a lament so meaningless it should be played on a violin that could only be seen through an electron microscope.

And even if the rich won a judicial review, all they would have done was expose their own disproportionate power. Which in itself would tell us something about the world we live in.

CORRECTION: This column has been corrected to clarify in the fourth paragraph that the Household Economic Survey is conducted by interviewers from Statistics NZ, not Inland Revenue. (Edited: 1/14/22, 11:59 AM)

Max Rashbrooke is Senior Fellow at the Institute for Governance and Policy Studies at Victoria University of Wellington-Te Herenga Waka. He wrote Too Much Money: How Wealth Disparities are Unbalancing Aotearoa New Zealand (BWB, November 2021). He sits on the Technical Advisory Group on the Redesign of the Government’s Wealth Surveys.

]]> Citigroup is seeking to part ways with a Mexican company that has brought it wealth and scandal. https://freebassuk.com/citigroup-is-seeking-to-part-ways-with-a-mexican-company-that-has-brought-it-wealth-and-scandal/ Tue, 11 Jan 2022 23:15:37 +0000 https://freebassuk.com/citigroup-is-seeking-to-part-ways-with-a-mexican-company-that-has-brought-it-wealth-and-scandal/ Citigroup will be pulling out of its mainstream banking business in Mexico, where it has more branches than any other country, closing the curtain on a transaction that is both hugely profitable and beset by scandal. The bank said on Tuesday it would sell or list Banco Nacional de México, better known as Banamex, which […]]]>

Citigroup will be pulling out of its mainstream banking business in Mexico, where it has more branches than any other country, closing the curtain on a transaction that is both hugely profitable and beset by scandal.

The bank said on Tuesday it would sell or list Banco Nacional de México, better known as Banamex, which it bought in 2001 for $ 12.5 billion, as part of its “strategic refresh “.

Citi will continue to offer institutional and investment banking services for large corporations in Mexico and private banking options for ultra-wealthy residents of the country. But there will be no more branches to serve individual account holders or small and medium businesses. And it will no longer be linked to an operation that generated heavy regulatory control.

“We will be able to direct our resources to opportunities aligned with our core strengths and competitive advantages,” Citi Managing Director Jane Fraser said in an emailed statement to reporters. “We are going to further simplify our bank.

In 2014, Banamex revealed that one of its most important clients, a Mexican oil services company, had defrauded the bank of $ 400 million and that, in a separate case, bodyguards working for bank employees were receiving bribes from some of the bank’s salespeople.

In 2015, federal banking regulators and California fined US-based Citi affiliate Banamex USA $ 140 million for failing to put in place adequate anti-money laundering controls, conditions that regulators became aware of while trying to track the flow of drugs. money. Citi subsequently shut down the company in the United States and paid $ 97.4 million to settle a federal criminal investigation into the case.

Citi also announced that it would withdraw from its consumer activities in Asia and Europe, as part of a plan to “focus on centers of wealth globally,” according to its announcement on Tuesday. Citi earned $ 1.2 billion from its consumer business in Mexico in the first three quarters of 2021. The bank is expected to release its fourth quarter results on Friday.

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Financial Management in Etobicoke ON – Patrimoine / Estate https://freebassuk.com/financial-management-in-etobicoke-on-patrimoine-estate/ Mon, 10 Jan 2022 02:26:00 +0000 https://freebassuk.com/financial-management-in-etobicoke-on-patrimoine-estate/ Toronto, Canada, January 9, 2022 (GLOBE NEWSWIRE) – In an effort to help clients maintain their quality of life for years to come, DFSIN’s wealth planning services include numerous wealth management options. Clients can receive financial health services tailored to their particular lifestyle. More details can be found at OrlandoAliFinancial.ca DFSIN’s wealth management services assign […]]]>

Toronto, Canada, January 9, 2022 (GLOBE NEWSWIRE) – In an effort to help clients maintain their quality of life for years to come, DFSIN’s wealth planning services include numerous wealth management options. Clients can receive financial health services tailored to their particular lifestyle.

More details can be found at OrlandoAliFinancial.ca

DFSIN’s wealth management services assign clients a dedicated investment advisor, who works with them step by step for full transparency and accessibility. During the initial consultation, their experienced investment advisor will determine three things: estimated life expectancy, current financial health and well-being, and retirement options.

It is especially on this last factor that we will be interested. According to emerging studies, many millennials, who are now in their late twenties and mid-thirties, do not have a proper retirement plan. Experts have expressed concern, stressing the importance of planning ahead to mitigate risks caused by unforeseen circumstances – a lesson, they say, highlighted by the recent health crisis.

One way to solve this problem is to have comprehensive financial management. DFSIN debunks the myth that wealth planning is for the very rich. Instead, he says all professionals should consider having their own financial planner.

With an investment advisor, clients can determine how much they can save per month and where they can invest to beat inflation. A professional investment advisor from DFSIN also helps clients understand the many factors that can affect their estate planning, including their gender life expectancy, medical condition, genetic factors and the age at which they plan to take their estate. retirement.

DFSIN explains that there are individual investment options that can be considered in their business. This includes guaranteed investment funds, fixed rate term investments, market linked term investments, annuities, a registered retirement savings plan and a tax-free savings account.

Depending on the client’s goals, any or all of them can be used to manage their assets.

The company serves all of Brampton, Mississauga, Etobicoke, Oakville and Burlington. It invites new customers to contact them through their website or phone number to practice social distancing.

Interested parties can find more information by visiting OrlandoAliFinancial.ca

Website: https://orlandoalifinancial.ca/


        


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January 8: Bravo to Macron, unvaxed threat, EA staff crisis and other letters https://freebassuk.com/january-8-bravo-to-macron-unvaxed-threat-ea-staff-crisis-and-other-letters/ Sat, 08 Jan 2022 13:02:45 +0000 https://freebassuk.com/january-8-bravo-to-macron-unvaxed-threat-ea-staff-crisis-and-other-letters/ EA staff crisis As a parent of a child with special needs in the public school system, it was heartbreaking to read the EA staff shortage facing Orchard Park School and the escalating violence that accompanies it. The inability to attract, properly compensate and retain educational assistants is a dark stain on the performance of […]]]>

EA staff crisis

As a parent of a child with special needs in the public school system, it was heartbreaking to read the EA staff shortage facing Orchard Park School and the escalating violence that accompanies it. The inability to attract, properly compensate and retain educational assistants is a dark stain on the performance of this board. A problem that must be dealt with with more effective measures than a letter from the president of the board of directors, Dawn Danko, to the province pleading for more money.

The first step would be greater transparency on how the board spends its endowment dollars, particularly the amounts allocated to TAs and teachers versus the amount allocated to administration. Other boards are transparent with this information; only the Hamilton-Wentworth District School Board keeps it hidden. There is no doubt, however, that the department knows the details, which may be why they are not so open to a bailout.

Bravo for Macron

President Emmanuel Macron is said to have declared that he would do everything to “piss off” the unvaccinated. It will make it more difficult for them to do anything outside of their home because it introduces more stringent regulations requiring that the French have a vaccination passport. He has guts, common sense and conviction. Three cheers.

My wish for 2022

In 2018, the richest 26 people on the planet had a combined net worth equal to the poorest half of the world’s population, or nearly four billion people.

The International Monetary Fund was designed at the United Nations in 1944 to establish a framework for international economic cooperation and avoid repeating the currency devaluations that contributed to the Great Depression of the 1930s. The main mission of the IMF is to facilitate international trade, to promote international financial stability and monetary cooperation, to promote employment and sustainable economic growth and to reduce poverty in the world.

A capital tax / participation tax / wealth tax is a tax on the assets of an entity, including the total value of personal assets, including bank deposits, cash, real estate, assets insurance and pension plans, ownership of unincorporated businesses, securities and trusts. Otherwise, debts are deducted from an individual’s wealth, resulting in a net wealth tax.

Fixing inequalities doesn’t require miracles, just desire. May 2022 be radiant for all!

Walking Dead

Can someone explain to me how they know the average when no one is reporting? Where do these numbers come from? What if we get sick regardless of our vaccination status: A. why were we vaccinated (I know why) and B. if we are vaccinated why are we stopped? I don’t like the life of the living dead.

Karen Filice, Stoney Creek

Virtual learning

I found the article on virtual learning interesting. The son of the interviewed family was, at school, very successful, but once the virtual learning happened his grades dropped, but when the reward of switching to in-person learning was offered, his grades started to climb. This tells me that children are not supervised by their parents when they are “in school” and that they need positive reinforcement, a reward or a goal to work towards, for a good job. We all hope the children can return to class, but only when they are safe. In the meantime, our government must ensure that funding is available for low-income families to upgrade their Internet so that at least children have sufficient service to achieve their goals.

Diana MacKenzie, Hamilton

Unvaxxed a threat

The number of COVID continues to rise dramatically, in large part due to those who refuse to be vaccinated. When anti-vaccines are in public, they are to public health and safety what an arsonist is to firefighters. To date, our political leaders have been too timid to act to support those of us threatened with infection by these selfish and thoughtless individuals. Enough is enough. It’s not rocket science – if you want to be in public then get the vaccine otherwise stay home and don’t endanger the rest of us who have been vaccinated and are taking care of each other. Our governments have the power to act, what is missing is their will.

Gordon Wilson, Port Rowan

Well done St. Joe’s

Recently, I received my COVID vaccination booster in St. Joe’s. Very well organized, entry and exit in 30 minutes. The staff were informative and helpful with no issues throughout the process. A big thank you to all the volunteers.

Harold Turnbull, Ancaster


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The untapped value of supporting workers’ retirement preparation https://freebassuk.com/the-untapped-value-of-supporting-workers-retirement-preparation/ Thu, 06 Jan 2022 13:09:14 +0000 https://freebassuk.com/the-untapped-value-of-supporting-workers-retirement-preparation/ “There is growing evidence of significant wealth gaps between women and men, white and colored Canadians, and aboriginal and non-aboriginal Canadians,” he added. “For employers who are thinking about what they can do to reduce this wealth gap, offering an open plan that is accessible to all of their employees is a very important step. […]]]>

“There is growing evidence of significant wealth gaps between women and men, white and colored Canadians, and aboriginal and non-aboriginal Canadians,” he added. “For employers who are thinking about what they can do to reduce this wealth gap, offering an open plan that is accessible to all of their employees is a very important step. “

This statistic resonated with McCormick, as 80% of HOOPP members are women and women tend to have lower incomes in retirement. And while acknowledging that employers are going through a very difficult time with COVID, he suggested that during the all-important rebuilding process, they should consider shedding any preconceptions they might have had about retirement plans. being a pure fresh.

“For business owners who may have preconceived ideas about the impact of setting up a retirement plan, we suggest that perhaps they should take another look,” said McCormick. “They might not have a plan that touches all of our five value drivers up front, but we think it’s something to consider to help their people, their business and the company as a whole.”

It’s not just business owners who have an interest. The paper also suggests that to broaden the adoption of workplace pension plans, the industry may consider providing more low-cost, high-quality options to small and medium-sized businesses that have never had access to them. . Beyond that, there is a need to communicate and educate investors on the value of these plans, and this is where wealth advisers could play a crucial role.

“Part of what we’re seeing is perhaps a greater overlap between the world of individual wealth management and the world of group benefits,” Mazer said. “Advisors certainly have a role to play in helping employers put in place a high quality plan and communicate the value of that plan. Advisors also have a role to play in serving plan members, so that they can obtain support after they leave the employer and upon retirement as well.


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$ 650,000 winning lottery ticket sold in Jackson, NJ https://freebassuk.com/650000-winning-lottery-ticket-sold-in-jackson-nj/ Tue, 04 Jan 2022 17:19:09 +0000 https://freebassuk.com/650000-winning-lottery-ticket-sold-in-jackson-nj/ OH MY GOD. the New Jersey Lottery Announced Big Winner in Our Area… and it’s not me. MDR. Whom, whom. But, it could be you. The winning ticket is worth $ 650,969. Wow. That’s a lot of money. This is a Jersey Cash 5 ticket from the Sunday January 2 draw, and the ticket matches […]]]>

OH MY GOD. the New Jersey Lottery Announced Big Winner in Our Area… and it’s not me. MDR. Whom, whom. But, it could be you.

The winning ticket is worth $ 650,969. Wow. That’s a lot of money. This is a Jersey Cash 5 ticket from the Sunday January 2 draw, and the ticket matches all five numbers.

the lucky ticket was sold to the Krauszer convenience store on Brewers Bridge Road in Jackson, NJ (Ocean County). The store receives a bonus of $ 2,000 for the sale of the ticket. Not bad. Did you play the lottery there? You’d better get your tickets out and check them right away.

I know we have a lot of PST listeners in the Jackson area. I wonder if someone from PST Nation is the big winner? I hope.

It secretly kills me. You may have heard me mention before that I play the lottery for my father every day. He loves it and doesn’t go out much due to the COVID-19 pandemic, so my sister and I have been appointed as replacements. MDR.

He doesn’t play all lottery games, but Jersey Cash 5 is one of his favorite games and he gets a ticket to the next draw daily. Why can’t we win a big jackpot? Why not us ??? MDR.

Ahhh, I have such amazing plans for such a big jackpot. It’s simple, I would buy a beach house. I would also help my family, donate to my favorite charities and of course have fun. I’ve always wanted to walk into a bar and scream, “Drink up on me.” MDR.

Ahhh, dreaming. Congratulations to the winner.

KEEP READING: Discover The Richest Person In Each State

WATCH: Here are 25 ways to start saving money today

These tips for saving money, whether it’s finding discounts or just changing your day-to-day habits, can come in handy whether you have a specific savings goal or want to save money. money set aside for retirement or just want to earn some pennies. It’s never too late to be more financially savvy. Read on to find out more about how you can start saving right now. [From: 25 ways you could be saving money today]


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The turnaround in foreign source income – what’s left? https://freebassuk.com/the-turnaround-in-foreign-source-income-whats-left/ Sun, 02 Jan 2022 13:41:00 +0000 https://freebassuk.com/the-turnaround-in-foreign-source-income-whats-left/ THE The government made a surprising turnaround on December 30, 2021 after announcing that foreign-source income received in Malaysia by Malaysian tax residents will be taxed. It is certainly welcomed by all the taxpayers concerned, but it does not send a signal of confidence to the business community or to foreign investors. Despite numerous discussions […]]]>

THE The government made a surprising turnaround on December 30, 2021 after announcing that foreign-source income received in Malaysia by Malaysian tax residents will be taxed. It is certainly welcomed by all the taxpayers concerned, but it does not send a signal of confidence to the business community or to foreign investors. Despite numerous discussions with industry groups and professional bodies before the budget was drawn up, it is a pity that the authorities did not take into account the setback they would suffer from the business community. Going forward, in order to avoid erosion of confidence in the fiscal measures announced by the government, authorities are advised to obtain feedback through the issuance of a draft proposal. of all parties concerned before the announcement of a political measure.

Today’s position

The 2021 finance law which taxes foreign income remains as it is. Last Thursday, a press release said the government had agreed to exempt all types of foreign source income for individuals who are tax residents in Malaysia, except those who operate partnership businesses in Malaysia. Corporations and limited liability companies that are tax resident in Malaysia will be exempt from foreign source dividend income. This will be effective from January 1, 2022 to December 31, 2026.

All other taxable persons such as trusts (except commercial trusts), executors and administrators of estates, co-ops, corporations, clubs, professional associations, etc. will be subject to tax in Malaysia when the foreign source income is received in Malaysia.

In calculating the Cukai Makmur for businesses, any foreign source income received in 2022 will be exempt.

The above exemptions are subject to eligibility guidelines to be issued shortly by the Inland Revenue Board (IRB).

What are the uncertainties?

Do nothing until eligibility criteria are announced by the IRB. Now we don’t know the eligibility requirements and we need certainty, and this can only be provided through an amendment to the law or a Gazette Order. The press release does not give the necessary authority to override existing legislation. Don’t start sending money until the law is changed and the guidelines published.

It is surprising why natural persons carrying out a partnership activity in Malaysia do not benefit from this exemption, since partnerships as a rule are not taxed. It is the individual partners who are taxed. The authorities should explain the exception noted in the press release as it does not appear to be compatible with tax legislation.

What should individuals do?

Despite this announcement of exemption for foreign source income received by individuals, individuals are advised to keep good accounts of their investments and income abroad to distinguish between capital and income. Who knows if there will be a policy change again in the future? Be prepared that in the event of a future U-turn you will not be caught if you have returned capital instead of income to Malaysia.

With the Automatic Exchange of Information between countries and the availability of information within the various government authorities, individuals are advised to reconcile your annual increase in wealth with the various sources of income, capital gains, and non-taxable revenues such as as estates, etc. so that you are prepared to explain to the tax authorities in the event of a future audit which now becomes a common occurrence.

The taxation of foreign source income has not disappeared. With the exception of resident individuals, corporations and limited liability companies receiving dividends, all others are subject to tax when they receive other types of income such as rental income, income from interest, trust income, partnership income share, joint venture income share, branch profit, etc. will be subject to tax.

This article was written by the Managing Director of Thannees Tax Consulting Services Sdn Bhd, SM Thanneermalai.


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