Individual Wealth – Free Bassuk http://freebassuk.com/ Tue, 21 Jun 2022 08:30:04 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://freebassuk.com/wp-content/uploads/2021/07/icon.png Individual Wealth – Free Bassuk http://freebassuk.com/ 32 32 Financial Advice I Would Give My Younger Self – Education Finance Planning https://freebassuk.com/financial-advice-i-would-give-my-younger-self-education-finance-planning/ Tue, 21 Jun 2022 08:30:04 +0000 https://freebassuk.com/financial-advice-i-would-give-my-younger-self-education-finance-planning/ At the end of most talks I give, the moderator usually asks, “What else should our audience know?” I always look at the younger members in the room or on screen and think – if only I knew when I was your age. Although my business is to provide financial and wealth planning advice to […]]]>

At the end of most talks I give, the moderator usually asks, “What else should our audience know?” I always look at the younger members in the room or on screen and think – if only I knew when I was your age.

Although my business is to provide financial and wealth planning advice to clients who have already built up significant wealth, there are many fundamental planning strategies that apply to those just starting out in their careers, things that , frankly, I wish I had known when I was growing up. Therefore, I’m writing this four-part series about the planning advice I would give to my younger self. Topics will range from planning for education savings, young families, retirement, to caring for aging parents. This first article is about planning for education savings.

Saving for college is often viewed from the perspective of the parent saving for the child, and if you’re one of the lucky ones whose parents can afford to have it done for you, good for you. However, education savings, or more properly education savings, is not a domain strictly reserved for parents and children. As a young adult, you can start thinking about saving for college and how to do it in a tax-efficient way. Specifically, I’m referring to a 529 college savings plan and a Roth Individual Retirement Account (IRA).

529 College savings plans aren’t just for kids

The 529 Education Savings Plan is a tax-efficient vehicle designed for education savings. Money held in these accounts can grow with income tax deferral, and when the money is ultimately distributed for the use of eligible educational expenses, it will also be exempt from income tax. In other words, income and appreciation of investments held in a 529 account can be completely exempt from income tax if used for educational purposes.

For many, the first experience with a 529 account is when a young parent opens one for a newborn – this was certainly my case as my first 529 account was opened for my son a few months after he was born. Here’s the advice I wish I had known years ago – you can open an account for yourself. Instead of putting your extra savings early in your career into a savings or investment account where interest and growth would be taxable, instead consider putting those savings into a 529 account for your own benefit. If you pursue higher education, you can then use this money to pay for tuition, books, and room and board. As with any tax-advantaged account, the compound growth value of tax-free income can be a nice boost to the bottom line. Additionally, some states also offer a tax deduction or credit on contributions to a 529 account.

You might be wondering — what if I don’t go to graduate school or get outside funding like a scholarship? Money from a 529 plan can still be withdrawn for any use (i.e. non-educational use), but the withdrawal will be subject to income tax at the time of distribution and a 10% penalty if not used for qualifying education expenses. Even so, you can still be a winner, because depending on the growth of the investments and how long the 529 account is open, the value of the compound growth without income tax over the years can outweigh the tax and penalty imposed for making an ineligible withdrawal.

What is more likely, and where the long-term view comes into play, is to view the 529 account as a tax-efficient vehicle not only for your education, but any loved one education. You can rename the beneficiary of a 529 account to an eligible family member (e.g. another child, niece, nephew, in-laws), which means if you don’t ultimately need the money for your own educational purposes, you can effectively “transfer” these funds to another for their own education, while enjoying the same tax advantages.

In retrospect, not only should I have opened a 529 account for my own legal training, but I should have continued to contribute to the account and “transferred” it to my son when he was born as the new beneficiary. If I had done that, I would have jump-started my son’s education savings with 15 solid years of tax-free compound growth.

Roth IRAs aren’t just for retirement

Another tax-efficient vehicle that can be used for college savings is a Roth IRA. These accounts are often thought of for retirement purposes, which is how they are primarily used. The advice I would give to my young person is to consider using this strategy for the financing of studies as well and not only for retirement.

Similar to a 529 plan, income and appreciation from investments held in a Roth IRA benefit from an income tax deferral, with the potential to ultimately be tax exempt. Contributions you make to a Roth IRA are accessible at any time without tax or penalty. Additionally, when profits and growth are distributed from the Roth IRA, they are also exempt from income tax (provided it is a qualified distribution – more on that in a moment) , whatever the use.

The Internal Revenue Service (IRS) also provides a sadnessfree distribution from the Roth IRA to pay for higher education expenses for yourself, your spouse, your children, or your grandchildren, provided that the distribution does not exceed the expenses for the year. Of course, if the assets are ultimately not needed for education, the Roth IRA can ultimately be used for retirement.

There are some key differences between 529 plans and Roth IRAs that should be considered when planning to use either for education savings purposes. The first is in the timing. Although you can make a distribution from a Roth IRA at any time, there will be a 10% early withdrawal penalty if the distribution was made before age 59½, with some exceptions. If a distribution was made within the first five years after a contribution to a Roth IRA, there will also be income tax imposed at the time on the earnings (withdrawal of principal is exempt from income tax) . Therefore, the Roth IRA strategy is probably best considered a savings strategy for a child’s education when you make the withdrawal after the five-year period from the first contribution and after the age of 59. and a half (of course it is also available if one were to obtain higher education at a later age).

Another critical difference concerns income limits. In order to qualify for contributions to a Roth IRA, his income must be below a certain threshold. In 2022, this threshold is $144,000 for single people and $214,000 for married people filing jointly. A 529 plan, on the other hand, has no income limit, so one can make contributions regardless of income level. Therefore, one should be aware of its income potential because if your income starts to exceed the stated threshold amount, the Roth IRA strategy may not be available.

Of course, these two strategies are not mutually exclusive and if there is enough excess savings, you can always contribute to both a 529 plan. and a Roth IRA.

When considering which option is right for you, many other factors are beyond the scope of this article, such as:

  • Investment options available in the plan: 529 Education Savings Plans may offer different investment options compared to Roths and may generally be more limited.
  • Contribution ceilings: If you’re under 50, you can only contribute up to $6,000 per year to a Roth IRA for 2022. Meanwhile, with 529 plans, there are no limits, although taxes on donations may come into play when contributions reach more than $30,000 per couple per year.
  • Impact on financial aid: Income eligibility and qualification varies between 529 and Roth and will depend on many factors such as timing and ownership.

Although you should always consider consulting a financial advisor before making a final decision, I wish I had even known to ask the question when I was younger.

Hope this was helpful, and stay tuned for next month’s column: Financial advice I would give to my younger self — Planning for a young family.

Wilmington Trust is a registered service mark used in connection with various fiduciary and non-fiduciary services offered by certain subsidiaries of M&T Bank Corporation. Wilmington Trust Emerald Family Office & Advisory is a service mark of and refers to wealth planning, family office, specialist transactions and other services provided by Wilmington Trust, NA, a member of the M&T family.
Note that tax, estate planning, investment and financial strategies require consideration of the suitability of the individual, company or investor, and there is no guarantee that any strategy will be successful. hit. Wilmington Trust is not authorized to and does not provide legal, accounting or tax advice. Our advice and recommendations are provided for general guidance only and subject to the opinions and advice of your own lawyer, tax advisor or other professional adviser. Investing involves risk and you can make a profit or a loss. There can be no assurance that any investment strategy will be successful.

Chief Wealth Strategist, Wilmington Trust

Alvina Lo is head of family office and strategic wealth planning at Wilmington Trust, part of M&T Bank. Alvina was previously at Citi Private Bank, Credit Suisse Private Wealth and a practicing attorney at Milbank, Tweed, Hadley & McCloy, LLC. She holds a BS in Civil Engineering from the University of Virginia and a JD from the University of Pennsylvania. She is a published author, frequent lecturer, and has been quoted in major outlets such as “The New York Times.”

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When you are forced to withdraw money in a bear market https://freebassuk.com/when-you-are-forced-to-withdraw-money-in-a-bear-market/ Sun, 19 Jun 2022 12:00:00 +0000 https://freebassuk.com/when-you-are-forced-to-withdraw-money-in-a-bear-market/ Financial planners warn investors against attempts to time the market. It’s notoriously difficult to guess exactly when sentiment on Wall Street will reverse – even professionals are likely to be wrong. Yet that is essentially what countless retirees are being forced to do these days – playing chicken with a market rocked by 40-year high […]]]>

Financial planners warn investors against attempts to time the market. It’s notoriously difficult to guess exactly when sentiment on Wall Street will reverse – even professionals are likely to be wrong.

Yet that is essentially what countless retirees are being forced to do these days – playing chicken with a market rocked by 40-year high inflation, war in Ukraine, supply shocks and a sense of depressed consumption.

For retirees mandated by IRS rules to take required minimum distributions from tax-deferred retirement vehicles such as Individual Retirement Accounts or 401(k)s, the prospect of having to withdraw funds during a bear market is unpleasant enough to cause some to tighten their belts until the market rebounds – or until Congress intervenes.

Planners are reporting a surge of new clients struggling to juggle retirement spending expectations with a suddenly dwindling nest egg.

“We have a lot of new customers who need to go through RMDs,” said Peter Gallagher, managing director of Unified Retirement Planning Group. He found that some were fully invested in riskier asset classes such as stocks, which exposed them to market slump, rather than in safer categories such as bonds. “They didn’t have the idea that they were taking as many risks as they were,” he said.

Sometimes there’s not much else to do but deliver the bad news. “We had people who were 100% in tech stocks, and we had to tell them, ‘Look, you’re down 40% from the top,'” Gallagher said. “It’s a very difficult conversation, because we have to sell.”

The ABCs of RMD

As defined benefit pension plans have been replaced by defined contribution plans such as 401(k) plans, tax deferral is an incentive for workers to save. Many retirees depend on distributions from their retirement accounts for their day-to-day income, a need that has grown as the prices of gas, groceries and other basic necessities continue to rise. The RMD rules for account holders as well as heirs aim to prevent retirement accounts from becoming tax shelters for inherited wealth.

The latest significant changes to these rules were made by the SECURE (Setting Every Community Up for Retirement Enhancement) Act of 2019, which raised the age at which account owners must begin receiving distributions from 70½ to 72 and accelerated the time frame within which people who inherit IRAs or similar accounts must make withdrawals.

Holders of these accounts must begin making withdrawals no later than April 1 of the year following their 72nd birthday and continue to do so at the end of each subsequent calendar year. (Roth IRAs, which are funded with after-tax dollars, do not require RMDs.)

The amount account holders must withdraw varies from year to year, depending on their account balance as well as their expected life, and distributions are taxed as ordinary income. Individuals with multiple accounts have flexibility in that the full amount of their distribution can be withdrawn from one or more accounts, but the penalty for non-compliance is high: RMDs that are not withdrawn on time are taxed at a rate of 50%.

Cil Frazier, a retired TV marketing professional who lives in a suburb of Birmingham, Alabama, said she will have to start taking her RMDs by April, which she is reluctant to do.

Frazier, 71 and a widow, said Social Security and a small amount of retirement income are enough to pay her mortgage and most day-to-day expenses at the moment, but she’s worried about inflation driving up her cost. of life.

“I’m paying more money for things I normally buy,” she said, adding that she braces for higher energy bills as temperatures rise in the southeast. “I shop more carefully. I set the air conditioner thermostat higher. »

People who help retired Americans manage their finances are alarmed by the vulnerability this cohort — especially historically marginalized populations — faces due to market fluctuations. This is especially tricky for those who don’t have a fund manager, as investors have to calculate for themselves how much they need to withdraw to meet the RMD requirements.

“It’s very complex, and it’s almost impossible for a layman” to manage without help, said John Migliaccio, senior financial literacy consultant.

In today’s post-retirement economy, Americans have had to take a more active role in managing their pre-retirement money, whether or not they have the knowledge to do so.

The historically long pre-pandemic bull market and rapid turnaround after the spring 2020 plunge have lulled investors into complacency.

“The shakes that we’ve had in the market over the last few years – these are short-term impacts on the market, so people have been conditioned to think we’re going to see a rebound pretty quickly,” Kathy Carey said. , director of research and planning at Baird Private Wealth Management. “I feel like this downturn could last a bit longer.”

How retired investors are doing

Some retirees, like Frazier, manage by tightening their belts. Others dusted off their CVs. What labor market observers have called “non-retirement” is bringing people aged 55 to 64 back into the labor market.

“A lot of seniors are going back into the workforce,” said Cindy Hounsell, president of the Women’s Institute for a Secure Retirement. “It also gives them the opportunity to catch up a bit.”

Others are tapping into the equity built up in their homes, said Steve Rick, chief economist at CUNA Mutual Group. “I’ve been amazed at the increase in home equity balances,” he said. “Home equity lending is booming right now.”

Frazier worried that her initial RMD might be high enough to knock her out of her 12% tax bracket. “That’s a huge 10% jump,” she said.

It plans to wait until the fall to take its required initial distribution, hoping Congress steps in or volatility subsides.

Although congressional intervention would buy time, foregoing access to these funds would be a double-edged sword, as delaying its distribution would mean postponing about $8,000 of dental work that Frazier hopes to do. “I try to save all the teeth I can,” she said.

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Duopharma Biotech Berhad (KLSE:DPHARMA) market capitalization fell by RM162 million last week; Sovereign funds have paid the price https://freebassuk.com/duopharma-biotech-berhad-klsedpharma-market-capitalization-fell-by-rm162-million-last-week-sovereign-funds-have-paid-the-price/ Fri, 17 Jun 2022 22:29:32 +0000 https://freebassuk.com/duopharma-biotech-berhad-klsedpharma-market-capitalization-fell-by-rm162-million-last-week-sovereign-funds-have-paid-the-price/ Every investor in Duopharma Biotech Berhad (KLSE: DPHARMA) should know the most powerful shareholder groups. And the group that holds the biggest slice of the pie are the sovereign wealth funds with 52% ownership. In other words, the group faces the maximum upside potential (or downside risk). As the market capitalization fell to RM1.1 billion […]]]>

Every investor in Duopharma Biotech Berhad (KLSE: DPHARMA) should know the most powerful shareholder groups. And the group that holds the biggest slice of the pie are the sovereign wealth funds with 52% ownership. In other words, the group faces the maximum upside potential (or downside risk).

As the market capitalization fell to RM1.1 billion last week, sovereign wealth funds would have suffered the highest losses than any other group of shareholders in the company.

In the table below, we zoom in on the different ownership groups of Duopharma Biotech Berhad.

See our latest analysis for Duopharma Biotech Berhad

KLSE: DPHARMA Ownership Breakdown June 17, 2022

What does institutional ownership tell us about Duopharma Biotech Berhad?

Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it is included in a major index. We would expect most companies to have some institutions listed, especially if they are growing.

We can see that Duopharma Biotech Berhad has institutional investors; and they own a good part of the shares of the company. This suggests some credibility with professional investors. But we cannot rely solely on this fact since institutions sometimes make bad investments, like everyone else. When multiple institutions hold a stock, there is always a risk that they are in a “crowded trade”. When such a transaction goes wrong, multiple parties may compete to quickly sell shares. This risk is higher in a company with no history of growth. You can see Duopharma Biotech Berhad’s revenue and historical earnings below, but keep in mind there’s always more to tell.

earnings-and-revenue-growth
KLSE: DPHARMA Earnings and Revenue Growth June 17, 2022

We note that hedge funds have no significant investment in Duopharma Biotech Berhad. The company’s largest shareholder is Permodalan Nasional Berhad, with a 52% stake. This essentially means that they have considerable influence, if not absolute control, over the future of the company. With 9.2% and 2.8% of outstanding shares respectively, Employees Provident Fund of Malaysia and CIMB Group Holdings Berhad, Asset Management Arm are the second and third largest shareholders.

Institutional ownership research is a good way to assess and filter the expected performance of a stock. The same can be obtained by studying the sentiments of analysts. A number of analysts cover the stock, so you can look at growth forecasts quite easily.

Insider Ownership of Duopharma Biotech Berhad

The definition of an insider may differ slightly from country to country, but board members still matter. Management is ultimately responsible to the board of directors. However, it is not uncommon for managers to be members of the management board, especially if they are founders or CEOs.

I generally consider insider ownership to be a good thing. However, there are times when it is more difficult for other shareholders to hold the board accountable for decisions.

Our information suggests that Duopharma Biotech Berhad insiders own less than 1% of the company. However, insiders may have an indirect interest through a more complex structure. It has a market capitalization of just RM1.1 billion and the board holds only RM5.1 million of shares in its own name. We generally like to see a more invested board. However, it may be useful to check whether these insiders have bought.

General public property

With a 26% stake, the general public, consisting mainly of individual investors, has some influence over Duopharma Biotech Berhad. Although this group may not necessarily make the decisions, they can certainly have a real influence on the way the business is run.

Next steps:

It is always useful to think about the different groups that own shares in a company. But to better understand Duopharma Biotech Berhad, we need to consider many other factors. Take for example the ubiquitous specter of investment risk. We have identified 2 warning signs with Duopharma Biotech Berhad (at least 1, which is a little worrying), and understanding them should be part of your investment process.

At the end of the day the future is the most important. You can access this free analyst forecast report for the company.

NB: The figures in this article are calculated using trailing twelve month data, which refers to the 12 month period ending on the last day of the month in which the financial statements are dated. This may not be consistent with the annual report figures for the full year.

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts only using unbiased methodology and our articles are not intended to be financial advice. It is not a recommendation to buy or sell stocks and does not take into account your objectives or financial situation. Our goal is to bring you targeted long-term analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price-sensitive companies or qualitative materials. Simply Wall St has no position in the stocks mentioned.

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5 Ways to Maximize Your Social Security Payments https://freebassuk.com/5-ways-to-maximize-your-social-security-payments/ Wed, 15 Jun 2022 16:00:58 +0000 https://freebassuk.com/5-ways-to-maximize-your-social-security-payments/ By James RoyalAt Bankrate.com Social Security provides a fixed, secure income for retirees and others, helping many afford their golden years. Since you get reliable money for the rest of your life, many people want to maximize their monthly check. But how do you do that? Basically, you have three levers to maximize your Social […]]]>

By James Royal
At Bankrate.com

Social Security provides a fixed, secure income for retirees and others, helping many afford their golden years. Since you get reliable money for the rest of your life, many people want to maximize their monthly check. But how do you do that?

Basically, you have three levers to maximize your Social Security income:

  • Work longer. The more years you work, the more money Social Security will pay, up to your best 35 years of earnings.
  • Earn more. If you contribute more to the social security system, your later payment will be larger, up to a point.
  • Delay your performance. If you wait longer to claim your benefit (up to age 70), you will claim a higher monthly payment.

But those methods are only part of the story, and those looking for a bigger benefit check have a few other ways to increase their payment.

1. Work more years

Although you may not always be able to earn a higher salary, you may be able to work longer, and this is the first step to maximizing your Social Security salary.

“Social Security benefits are calculated based on the 35 years of work in which your salary was highest,” says Mark Bodnar, CFP, wealth advisor at Octavia Wealth Advisors in Cincinnati. “This is important to consider because if you haven’t worked for 35 years, zeros will be factored in, reducing your overall payout.”

But even if you’re 35 years old, adding a few more years of higher earnings can boost your average.

“If a person already has a full 35-year earnings record, the extra gain can only make a difference to future benefits if it causes a previous year’s earnings drop,” says Beth Lynch, CFP, counselor finance at Fort Pitt Capital Group in Pittsburgh.

Later in your career you will probably earn more than when you started. So if you can earn more and exclude some of those early years from the calculation, you’ll get a higher Social Security benefit.

But working longer benefits you in several other ways: You’ll be able to accumulate more savings and delay the start of withdrawing assets from your retirement plan, like an IRA or 401(k).

Working longer can help you qualify for higher social security benefits. (YAKOBCHUK VIACHESLAV/Shutterstock)

2. Earn more money

The next obvious lever to pull to get a Social Security paycheck is to earn more money. Social Security uses a formula that takes into account the amount you have paid into the system. The more you have contributed, the greater your benefit, up to a point.

Social Security taxes your wages 6.2% each year, and your employer pays an additional 6.2%, up to $142,800 (for 2021) of income. Paying taxes on the maximum would give you the highest possible Social Security payment, all other things being equal. So if you’re paying taxes on the maximum, which tends to increase every year, you’re inflating your contributions to the system.

For those who paid the taxable maximum throughout their working lives and claimed their full benefits at age 70, the down payment in 2021 would be $3,895. This number gives you the high of what they might expect, although this number should increase over time, thanks to adjustments.

But even if you don’t earn as much before retirement, you may be able to increase your check.

“Work in retirement to increase your benefits,” says Lynch. “A person who continues to work after applying for benefits may also be able to increase their benefits. Earnings during retirement continue to appear on a person’s earnings record.

3. Delay your performance

Delaying your benefit will increase your benefit check, but there is a limit to how big it is.

You can start collecting your Social Security benefits at age 62, but you’ll receive less than if you waited until full retirement age (67, for those born in 1960 or later). If you want the biggest check, you can wait until 70, but waiting beyond that won’t get you anything more.

“Delaying benefits will earn an individual eight percent deferred credits for each year after full retirement age,” Lynch says.

So if your full retirement age benefit was $1,000, you could claim $1,080 a month while waiting for a full year. However, you don’t have to wait all year to claim part of the increase. In other words, for each month you delay your benefit, you will receive a higher benefit of ⅔ of one percent, which is simply the annual rate of 8 percent divided by 12 months.

Tax,Return,Form,Et,Social,Security,Number,Card
(Popartic/Shutterstock)

So if your full retirement age is 67 and you wait three full years, until age 70, you will be able to claim 124% of your full benefit.

Plus, by delaying your benefit, you’ll get another “increase” – the Cost of Living Adjustment (COLA) which tends to increase the monthly payment over time.

“This will allow a person to start with a higher benefit and receive larger ‘increases’ each year, as the annual COLA is applied to the higher amount,” Lynch says.

4. Married? Divorce? You have options

Social Security offers many benefits to people in many different scenarios, and some of the most complex choices occur if you are married or divorced. Spouses and ex-spouses should therefore carefully consider the options and what is best for them, particularly in the area of ​​survivor benefits when one spouse predeceases the other.

“If you’re married, you have to consider your spouse,” says Eric Bond, wealth management advisor at Bond Wealth Management in the Los Angeles area. “The amount that the surviving spouse will receive on the death of the first spouse will depend on when [deceased] spouse started his social security.

“The biggest benefit stays in the household when a spouse dies,” says Beau Henderson, senior retirement planning specialist at RichLife Advisors in Gainesville, Georgia. “That’s why we need to think about the impact of our claim decision on both lives. There are many scenarios and they need to be modeled to give you the best outcome.

And just because you’re divorced doesn’t mean you can’t claim Social Security benefits on your ex-spouse’s income. But there are specific requirements that you must meet.

Having a spouse or ex-spouse complicates the planning process and means you need to model more scenarios to see what maximizes your benefits.

5. Work with a specialist financial advisor

“There are more than 500 possible ways to claim your benefit, and most Americans do so without much thought about this decision, which on average accounts for 40% of their retirement income,” Henderson says. “Only four percent of people in the United States choose the optimal claim strategy that would earn them the most money over their life expectancy.”

For this reason, it might be a good idea to work with a financial adviser who specializes in Social Security claims, especially if you have an unusual situation.

“Social Security Administration employees are not allowed to give advice, and the majority of financial advisers do not help with this benefit, because they are not educated in the field or because they are not unpaid,” Henderson said.

Due to the complexity of the program, a result of trying to help people in many different situations, you may need specialist advice to find the best fit for you. And it could be very profitable, even if it could cost you some money upfront.

Social,Security,Benefits,Agreement,Concept
(Rawpixel.com/Shutterstock)

Conclusion

It’s easier to get a bigger Social Security check if you’ve been aiming for that all your working life. But even if you’re on the edge with only a few years before you want to claim your check, you still have a number of things to do to increase your benefits, and waiting even a few years can significantly increase your payment and do so permanently.

©2022 Bankrate.com. Distributed by Tribune Content Agency, LLC.

The Epoch Times Copyright © 2022 The views and opinions expressed are solely those of the authors. They are intended for general informational purposes only and should not be construed or construed as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or other personal finance advice. Epoch Times assumes no responsibility for the accuracy or timeliness of the information provided.

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Traditional wealth centers wane, others gain as geopolitics rage https://freebassuk.com/traditional-wealth-centers-wane-others-gain-as-geopolitics-rage/ Mon, 13 Jun 2022 22:16:56 +0000 https://freebassuk.com/traditional-wealth-centers-wane-others-gain-as-geopolitics-rage/ The United Kingdom and the United States have lost their appeal as places to live for millionaires, while Singapore, Israel, Australia and the United Arab Emirates, among others, are becoming more attractive, according to a report. A report on how wealthy people move around the world predicts that the United Arab Emirates will overtake the […]]]>

The United Kingdom and the United States have lost their appeal as places to live for millionaires, while Singapore, Israel, Australia and the United Arab Emirates, among others, are becoming more attractive, according to a report.

A report on how wealthy people move around the world predicts that the United Arab Emirates will overtake the United States in attracting the largest net inflows of millionaires this year.

By contrast, the UK has lost its status as a wealth hub, having recently discontinued its “golden visa” system, according to Henley & Partners, a consultancy on citizenship-residence schemes by investment.

The second quarter report examines the projected net inflows and outflows of dollar millionaires for 2022 – it tracks the difference between the number of wealthy people who move and the number who emigrate from a country.

Unsurprisingly, Russian millionaires have fled the country, with an expected net outflow of 15,000 by the end of 2022, 15% of its individual HNW population and 9,500 more than in 2019, before the pandemic, according to The report.

Russia’s invasion of Ukraine is also pushing HNW out of Ukraine, which is expected to suffer its highest net loss in the country’s history – 2,800 millionaires (42% of its individual HNW population) and a net loss 2,400 more than in 2019.

The top 10 countries in terms of net inflows of millionaires this year will be the United Arab Emirates, Australia, Singapore, Israel, Switzerland, the United States, Portugal, Greece, Canada and New Zealand. A large number of millionaires are also expected to settle in Malta, Mauritius and Monaco.

In contrast, the 10 countries with the highest net HNW outflows predicted are Russia, China, India, Hong Kong, Ukraine, Brazil, UK, Mexico, Saudi Arabia and Indonesia.

“By the end of the year, 88,000 millionaires are expected to have moved to new countries, down 22,000 from 2019 when 110,000 moved. Next year, the largest migration flows of millionaires on record are predicted – 125,000 – as well-to-do investors and their families prepare in earnest for the new post-Covid world, with a yet-to-be-revealed rearrangement of the world order, and the ever-present threat of climate change as a constant backdrop,” said Dr. Juerg Steffen, CEO of Henley & Partners.


The UK is losing its luster
The UK has seen a steady loss of millionaires, with net outflows of 1,500 forecast for 2022. This trend began five years ago when the Brexit vote and rising taxes saw more wealthy people leave the country to enter for the first time. The UK has suffered a total net loss of around 12,000 millionaires since 2017.

The appeal of another financial giant, the United States, is also rapidly waning. America is significantly less popular among migrant millionaires today than before the pandemic, perhaps in part because of the threat of higher taxes, the report said.

However, the United States still attracts more HNWIs than it loses to emigration, with a net influx of 1,500 projected for 2022, although this is a sharp drop from 86 % compared to 2019 levels, which saw a net inflow of 10,800 millionaires.


The winners
Net inflows of wealthy people are on the rise in Israel, with a figure of 2,500 forecast for 2022 – a 79% increase since 2019.

In other details, more than 80,000 millionaires (in US dollars) have moved to the country over the past 20 years. In 2022, the net influx is expected to be 3,500 – the second highest in the world. Neighboring New Zealand is expected to receive a net inflow of 800 wealthy people in 2022, and Asia’s main wealth center Singapore continues to attract millionaires, with net inflows of 2,800 expected – a prolific increase of 87 % from 2019 figure of 1,500.

Wealth emigration is starting to hurt in China, with net outflows of 10,000 wealthy people expected in 2022.

In Hong Kong (SAR China), outflows of high net worth individuals continue, albeit at a slower pace, with projected net millionaire outflows of 3,000 in 2022 (a 29% decline from 2019).

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2 FTSE 100 income stocks with yields of 5.9% and 12.2%! https://freebassuk.com/2-ftse-100-income-stocks-with-yields-of-5-9-and-12-2/ Sun, 12 Jun 2022 07:20:00 +0000 https://freebassuk.com/2-ftse-100-income-stocks-with-yields-of-5-9-and-12-2/ Image source: Getty Images These FTSE100 both income stocks offer dividend yields well above the index average. Should I buy them today? J.Sainsbury Price: 212p per shareDividend yield: 5.9% The J.Sainsbury (LSE: SBRY) The stock price fell as fears over consumer spending intensified. This pushed its dividend yield well above normal levels. But I’m still […]]]>

Image source: Getty Images

These FTSE100 both income stocks offer dividend yields well above the index average. Should I buy them today?

J.Sainsbury

Price: 212p per share
Dividend yield: 5.9%

The J.Sainsbury (LSE: SBRY) The stock price fell as fears over consumer spending intensified. This pushed its dividend yield well above normal levels. But I’m still hesitant to buy the FTSE 100 grocer today.

Food retail has traditionally been seen as an oasis of calm in difficult conditions. However, the UK’s cost of living crisis is so bad that people are skipping and cutting back on meals at a pace that should concern supermarkets like Sainsbury’s.

The Office for National Statistics reported on Friday that three in four British adults feel “very” Where “somewhat worriedon the rising cost of living. As a result, the number of households spending less on food and basic necessities rose to 41%. That’s a 5% increase from a poll just a fortnight ago.

In this environment, Sainsbury’s will have to keep cutting prices to encourage people to keep shopping in its stores. The problem is that it has very little wiggle room on this front given the impact of rising costs on its already thin profit margins.

I like the excellent progress that Sainsbury’s has made in the growing area of ​​e-commerce. The grocer has posted the best online sales growth of any UK supermarket during the pandemic. It is now the second largest online grocer in the country and continues to invest in its online retail channel to maintain momentum.

However, that is not enough to encourage me to buy Sainsbury’s shares today. I think the cost of living crisis and growing competition in the UK food industry is making the business too big of a risk today.

Rio Tinto

Price: £57.20 per share
Dividend yield: 12.2%

I would be much happier investing my hard-earned money in Rio Tinto (LSE: RIO) right now. And that’s even as commodity companies like this face an increased threat to their earnings as the global economy slows.

The FTSE 100 company could see the prices of the commodities it produces reverse sharply in the short to medium term. That in turn could hit earnings hard and see dividends lower than City analysts currently expect.

Still, there’s a good chance, in my view, that Rio Tinto’s dividend yield will still beat Footsie’s broader average of 3.6% by a big margin. The company’s strong balance sheet certainly gives it the ability to pay big dividends if it chooses. Rio Tinto had $1.6 billion of net cash on its books in December.

I think owning the mining business could be lucrative for me, as the demand for commodities is likely to skyrocket over the next decade. Growing demand for consumer electronics, electric vehicles and renewable energy technologies, for example, is expected to drive demand for its copper alone. I would buy these dividend-paying stocks hoping to make excellent long-term returns.

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Missed ITR deadline: you may have to pay higher TDS if you missed the ITR deadline last year; how banks can check if you are a “determined person” https://freebassuk.com/missed-itr-deadline-you-may-have-to-pay-higher-tds-if-you-missed-the-itr-deadline-last-year-how-banks-can-check-if-you-are-a-determined-person/ Fri, 10 Jun 2022 04:50:00 +0000 https://freebassuk.com/missed-itr-deadline-you-may-have-to-pay-higher-tds-if-you-missed-the-itr-deadline-last-year-how-banks-can-check-if-you-are-a-determined-person/ The CBDT introduced sections 206AB and 206CCA of the Finance Act 2021, which were incorporated into the Income Tax Act 1961 with effect from 1 July 2021. Under these sections, if you missed the ITR filing for the 2020-21 fiscal year (2021-22 assessment year), then higher ADTs may be applicable on certain income you will […]]]>
The CBDT introduced sections 206AB and 206CCA of the Finance Act 2021, which were incorporated into the Income Tax Act 1961 with effect from 1 July 2021. Under these sections, if you missed the ITR filing for the 2020-21 fiscal year (2021-22 assessment year), then higher ADTs may be applicable on certain income you will earn in the current 2022-23 fiscal year. You will be referred to as a “determined person”.

Who is a definite person?

A “specified person” is a person who has not filed a tax return for the taxation year immediately preceding the fiscal year in which tax is to be withheld, for whom the deadline for filing a return of income has expired and, in which case, the total of the tax withheld at source and the tax collected at source during the said preceding year is Rs 50,000 or more.

The deadline to file an original ITR for fiscal year 2020-2021 was December 31, 2021. If you have not filed your ITR by this deadline, you will be subject to the higher TDS amount in fiscal year 2022 -23.

Also Read: Missed RTI’s Filing for Fiscal Year 2020-21? You could be responsible for a higher TDS in the current fiscal year 2022-23

According to the new imposed article, “For the purposes of this article “specified person” means a person who has not provided the tax return for the relevant taxation year in the preceding year immediately preceding the fiscal year in which tax shall be deducted, for which the time limit for furnishing the tax return under subsection (1) of Section 139 has expired and the total of the tax withheld at source and the tax collected at the source in his case is fifty thousand rupees or more in the said preceding year: provided that the specified person does not include a non-resident who does not have a permanent establishment in India. Explanation – For the purposes of this sub-section, the expression “permanent establishment” includes a fixed place of business through which the activities of the enterprise are carried on in whole or in part. »

Higher tax rate that will be applicable to specified persons

In accordance with income tax laws, the highest TDS/TCS will be deducted at the highest rate of the following for specified persons:

(a) Twice the rate specified in the relevant provision of the Law; Where

b) Twice the current rate(s); Where

c) The rate of five per cent.

How will banks check if higher TDS should be deducted?

The Department of Income Tax, via notification on June 9, 2022, released a compliance check feature for Sections 206AB and 206CCA to help tax deducers/collectors like banks determine if a person is a “specified person” as defined by Section 206AB & 206CCA. This capability is provided by the Department of Income Tax (https:/lreport.insight.gov.in).

To determine if a larger TDS is needed, a bank or other financial institution can use the Department of Income Tax’s “Conformance Check for Section 206AB & 206CCA”. To determine whether the individual concerned is a specific person for whom a higher TDS is applicable, the tax deductible must enter a single PAN or several PANs.

On the Compliance Check for Section 206A8 & 206CCA page, click the -PAN Search tab to access the PAN Search mode features. In this mode, only one valid PAN and captcha can be submitted at a time, and the output will include the fields below.

Fiscal Year: Current Fiscal Year


STOVE: As stated in the entry.


Last name: Hidden name of the Person (according to PAN).


PAN Award date: Date of allocation of the PAN.


PAN Aadhaar Link Status: PAN-Aadhaar link status for individual PAN holders as of date. Response options are Linked (PAN and Aadhaar are linked), Unlinked (PAN and Aadhaar are not linked), Exempt (PAN is exempt from PAN-Aadhaar linking requirements as per Department of Revenue Notice No. 37/ 2017 of May 11, 2017) or not applicable (the PAN belongs to a non-individual person).


Specified person under 206AB and 206CCA: The response options are Yes (PAN is a determined person according to article 206ABI206CCA at the date) or No (PAN is not a determined person according to article 206ABI206CCA at the date).

In addition, the date on which “specified person status” as defined by Sections 206AB and 206CCA is determined will also be included in the output.

Click here to read the full CBDT notification. https://incometaxindia.gov.in/communications/notification/notification-no-01-of-2022.pdf

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Harvesting tax losses transforms losses into gains. Here’s when to ignore it https://freebassuk.com/harvesting-tax-losses-transforms-losses-into-gains-heres-when-to-ignore-it/ Wed, 08 Jun 2022 15:05:37 +0000 https://freebassuk.com/harvesting-tax-losses-transforms-losses-into-gains-heres-when-to-ignore-it/ When the stock market dips, a strategy known as tax-loss harvesting can be a silver lining. But that doesn’t make sense for every wallet, say financial experts. Here’s how tax loss harvesting works: you can sell declining assets from your brokerage account and use the losses to offset other profits. Once the losses exceed the […]]]>

When the stock market dips, a strategy known as tax-loss harvesting can be a silver lining. But that doesn’t make sense for every wallet, say financial experts.

Here’s how tax loss harvesting works: you can sell declining assets from your brokerage account and use the losses to offset other profits. Once the losses exceed the gains, you can subtract up to $3,000 per year from your regular income.

The harvest of tax losses may now be more enticing with the S&P 500 index down nearly 14% from January’s all-time high. However, there are scenarios where it is better to avoid this strategy.

Learn more about personal finance:
Tax planning starts when building your portfolio
Here are the options for handling unpaid 401(k) loans
College can cost a lot less than you think

A popular move is to sell a losing asset and replace it with something similar to gain tax relief while maintaining the original portfolio exposure.

However, this so-called wash sale rule prohibits that loss if you buy a “substantially identical” investment within the 30-day window before or after the sale, according to the IRS.

It may be best to consider skipping tax loss harvesting if you can’t find a “good equivalent replacement,” said certified financial planner Matthew Boersen, managing partner of Straight Path Wealth Management in Jenison, Michigan.

While it may be easier to find exchange-traded funds or alternative mutual funds, selling individual stocks requires you to “sit on the sidelines for the next 30 days,” he said. declared.

“The market can move a lot during this time,” said Kristin McKenna, Boston-based CFP and managing director of Darrow Wealth Management. You can potentially “negate the tax advantages of harvesting losses” by picking another stock, she said.

“It’s important to consider the role of funds in an asset allocation and the impact of selling different securities on risk,” McKenna added.

Zero percent capital gains

Also, if your earnings fall below certain thresholds, it’s better to take profits on assets held for more than a year, called long-term capital gains, rather than losses, explained Larry Luxenberg. , CFP and founder of Lexington Avenue Capital Management. in New City, New York.

If you have taxable income below $41,675 for single filers and $83,350 for married couples filing together in 2022, you are in the 0% bracket for long-term capital gains.

You calculate taxable income by subtracting the higher of the standard or itemized deductions from your adjusted gross income, which is your income minus the so-called “over the line” deductions.

“You might actually want to take gains if you’re still in the zero capital gains rate,” Luxenberg said.

When you’re in the 0% bracket, you can sell profitable assets, avoid paying long-term capital gains taxes, and buy back the same investments for a so-called “tiered basis”, which adjusts the purchase price at current value. , guaranteeing lower taxes in the future, he said.

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Cryptocurrency Supporters Boost Greg Tanaka’s Congressional Candidacy | New https://freebassuk.com/cryptocurrency-supporters-boost-greg-tanakas-congressional-candidacy-new/ Mon, 06 Jun 2022 16:30:00 +0000 https://freebassuk.com/cryptocurrency-supporters-boost-greg-tanakas-congressional-candidacy-new/ Palo Alto City Councilman Greg Tanaka, an outspoken digital currency advocate, received a $265,000 boost from a cryptocurrency political action committee in his bid to unseat Rep. Anna Eshoo in Congress. DAO for America, a political action committee created to support candidates advocating for cryptocurrency, made six contributions to Tanaka in May totaling $265,250. The […]]]>

Palo Alto City Councilman Greg Tanaka, an outspoken digital currency advocate, received a $265,000 boost from a cryptocurrency political action committee in his bid to unseat Rep. Anna Eshoo in Congress.

DAO for America, a political action committee created to support candidates advocating for cryptocurrency, made six contributions to Tanaka in May totaling $265,250. The organization’s website says it mobilizes voters “to support candidates who understand the role digital assets can play in leveling the playing field and creating a fairer society.”

These DAO for America contributions are classified as independent expenses and, as such, are not subject to the same limits as direct contributions to Tanaka’s campaign. According to documents filed with the Federal Election Commission, the committee used funding for digital advertising, phone and text communications, and direct mail in support of Tanaka.

Tanaka is one of seven candidates seeking to unseat Eshoo, who was first elected in 1992 and enjoys a sizable lead in cash raised from the field, with around $1.48 million in direct contributions of individuals and political action committees, including those affiliated with tech giants. Applied Materials, Varian Medical Systems and Lockheed Martin.

The top two voters in Tuesday’s primary will advance to the November ballot, regardless of political affiliation. The heavily Democratic district stretches along the Pacifica coast north of San Jose and encompasses large parts of San Mateo and Santa Clara counties, including Palo Alto, Mountain View, Woodside, Portola Valley and parts of Menlo Park and Atherton.

Besides Eshoo and Tanaka, the field includes Democrats Ajwang Rading and Rishi Kumar, Republicans Peter Ohtaki, Benjamin Solomon and Richard Fox, and John Fredrich, an independent.

While Tanaka remains well behind Eshoo in campaign contributions, DAO’s independent spending for America is more than double the amount his campaign raised in direct contributions. According to federal documents, he received $119,000 in contributions for his bid to replace Eshoo.

As such, independent spending gives him a financial edge over the other two Democrats vying to replace Eshoo in District 16. Kumar, who faced Eshoo in the general election two years ago, brought in $294,440 in contributions for the current application. Rading, an attorney who had been on US Senator Cory Booker’s staff, raised $233,339. Both received almost all of their funding from individual contributions. Rading brought in a total of $500 from the committees while Kumar received no contributions from any committee.

The three Democratic challengers have emphasized different issues during their campaigns. Kumar, a high-tech executive who sits on the Saratoga City Council, is a proponent of congressional term limits that accepts no input from political action committees. Rading, who grew up homeless, stresses the need to build more affordable housing and switch to fully renewable electricity by 2035.

Tanaka, meanwhile, has stood out for his fierce support for cryptocurrency. A tech entrepreneur, he was elected to the Palo Alto council in 2016 and has always been an advocate for business interests. He has opposed moves by the city in recent years to cap office development and is the only council member who opposes Palo Alto. current attempt to introduce a business tax.

Earlier this year, Tanaka proposed to Palo Alto to get into the cryptocurrency business by creating its own digital currency. People could get credit for civic activities such as attending council meetings or volunteering. Tanaka said the new currency would protect the city against inflation.

“There’s a whole economy that can grow around these city-specific tokens,” Tanaka said at the board retreat in February.

Although no one on the board endorsed the idea, Tanaka continued to embrace his support for cryptocurrency. During an April discussion with Cityroots DAO, a cryptocurrency discussion platform, Tanaka criticized current lawmakers and policymakers for their failure to understand emerging technology.

Cryptocurrency, he argued, “represents financial freedom.”

“It represents sound money,” Tanaka said. “It’s a way of allowing the general public to have real wealth.”

Read more primary election news, including information on local races and metrics, in our voter guide.

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Te wiki o te tāke: more details on cost of living payments, mileage claims – and one-off wealth tax? https://freebassuk.com/te-wiki-o-te-take-more-details-on-cost-of-living-payments-mileage-claims-and-one-off-wealth-tax/ Sun, 05 Jun 2022 00:07:00 +0000 https://freebassuk.com/te-wiki-o-te-take-more-details-on-cost-of-living-payments-mileage-claims-and-one-off-wealth-tax/ tax week · Cost of living payment, mileage reimbursement, exceptional taxes and more The taxman now has published more details on the requirements for receiving the cost-of-living payment and how it will be administered. First, there is no need to request payment. It will be made automated automatically if a person is eligible. The main […]]]>


The taxman now has published more details on the requirements for receiving the cost-of-living payment and how it will be administered.

First, there is no need to request payment. It will be made automated automatically if a person is eligible. The main thing is to make sure the Inland Revenue has your correct bank account to which payments can be made. Apparently Inland Revenue only has records for just over 79% of potentially eligible people

As previously announced, it would be three payments, which we made on August 1, September 1 and October 3, the first business day of that month. Each payment will be made after verification of a person’s eligibility.

In summary, a person will be eligible to receive this payment if:

  • they earned $70,000 or less for the year ended March 31, 2022;
  • are not eligible to receive the Winter Energy Payment, meaning they receive either a New Zealand Super or an Eligible Benefit;
  • they are 18 years of age or older;
  • are both New Zealand tax residents and present here and are not in prison or deceased.

People who receive student allowances will receive the payment if they meet the other eligibility requirements.

So, the main thing is, as stated before, to have had your income tax assessment for the year up to March 2022 established. So that means the taxman has self-assessed it or you have filed an individual income tax return that has been processed.

Eligibility is measured before each payment, so it is entirely possible that a person may not qualify for one payment, but become eligible for a subsequent payment. For example, the person turns 18 after August 1 and will therefore be eligible to receive the second and third installments. Alternatively, the person receives one payment but then starts receiving New Zealand Super, in which case they are no longer eligible to receive the second and third payments.

The payment is not taxed and does not count as income for:

  • alimony
  • Work for families
  • student loans
  • work and income benefits and payments.

The Inland Revenue also said it would not use the payment to pay off any debt someone may have with it, which is a welcome step.

The Inland Revenue will continue to check eligibility until March 31, 2023, but you will have until March 31, 2024 to provide your bank account details to the Inland Revenue. The Inland Revenue website has helpful examples of where people are eligible and how they will administer it.

Travel expenses by car

Briefly, Inland Revenue also released the mileage reimbursement rate for the 2021-2022 income year for business motor vehicle expense claims.

These rates can be used by businesses and self-employed people to calculate the tax deductions available for the business use of a vehicle. They are also often used by employers to reimburse employees for the use of their own car for work purposes.

As expected, rates have increased, but not significantly from previous years, the Tier 1 rate is now $0.83 per kilometer for the business portion of the first 14,000 kilometers driven , including trips for private use (a point that is often overlooked).

Incidentally, the difference between Tier 1 and Tier 2 rates is due to the fact that Tier 1 rate is a combination of fixed and running costs of the vehicle and Tier 2 rate is only for running costs.

Windfall taxes? Wealth tax?

Speaking of cost of living payments, in the UK the government has also announced cost of living support measures. What is interesting is that in order to pay for the £15 billion package, it takes announcement a 25% energy profit levy on the profits of oil and gas companies operating in the UK and on the UK continental shelf.

This exceptional tax will apply to profits made from May 26 of this year. It is a temporary tax that will be phased out when oil and gas prices return to “historically more normal levels”, with the expectation that the tax will expire after December 31, 2025.

The UK actually has a history of windfall taxes: famous tax cutter Margaret Thatcher imposed one on the banks in 1981 (dare I say a similar tax here would be popular) and in 1997 the government Tony Blair’s newly elected Labor party raised £5.2bn. on the increased values ​​of companies previously privatized to fund a welfare-to-work program.

The idea of ​​a windfall tax here in New Zealand has never been seriously discussed in recent years, but it crossed my mind when the question of taxing billionaires arose after the publication of NBR rich list earlier this week. There are now 14 billionaires in New Zealand with an estimated global wealth of around $38 billion. Inevitably, the question of how much tax they pay arose. I reiterated my long-held view that some changes to our tax system to include greater taxation of capital are both necessary and inevitable.

talk about it with The Panel on RNZ, Max Harris asked about a wealth tax. My favorite answer is Fair economic return Professor Susan St John and I suggested. But there may be a case for a single wealth tax to capture the huge, largely untaxed growth in property values ​​over the past two years as a result of government initiatives around COVID.

If something like this happened, I think all the funds raised there should be used to accelerate the transition to a low-emission economy, for example, by providing greater subsidies for low-emission vehicles and helping communities to leave areas threatened by climate change. . This is something I think we were going to see a lot more of, and particularly once (not if) insurers start to withdraw their coverage.

In the UK, a Wealth tax office suggested in December 2020 that a single wealth tax was feasible. This proposal provided for a one-time wealth tax payable on all individual wealth over £500,000, which, at 1% per annum for five years, would raise £260bn. Incidentally, the tax was to help restore the UK government’s finances in the wake of the COVID 19 pandemic. The proposal hasn’t gone anywhere yet, but it’s an example of some of the current thinking that we see around the subject of taxation of wealth.

As I have said before, the debate about taxing wealth will continue. In my opinion, when you look at the 2021 Treasury Statement by He Tirohanga Mokopuna on the long-term fiscal position, some tax hikes seem inevitable.

The dangers of tax shortcuts

And finally, this week, another reminder about the dangers of taking tax shortcuts. I received a call from a somewhat alarmed tax agent trying to unravel a GST scenario. This appears to have arisen because someone attempted to avoid being registered for GST on the rental of land to a related party. At the same time, this related party claimed GST in respect of a school building from which it operates a school. The problem has now boiled over because the school business is for sale and it is unclear who owns the building from which the school will operate, whether a proper lease is in place for these buildings and if so, what is the annual value of this rent? The result is that the potential sale of the business may not occur.

I’ve seen similar impacts when a business failed to record cash sales to evade GST and income tax, only to find that when the business is for sale, buyers don’t do not have a faithful image and the selling price disappoints. Alternatively, the owner applies for a loan, but because he has cut his income, he does not have the necessary level of income. The lesson in all these cases is the same. Short-term decisions to avoid tax consequences can often have longer-term and much more negative consequences.

And on that note, that’s it for this week. I’m Terry Baucher and you can find this podcast on my website www.baucher.tax or wherever you get your podcasts. Thanks for listening and please send me your feedback and tell your friends and customers.

Until next time kia pai te wiki, have a great week!


*Terry Baucher is an Auckland-based tax practitioner with 25 years’ experience. He works with individuals and entities that have complex tax issues. Before starting his own business, he spent six years with one of the ‘big four’ accounting firms, including a period advising Australian businesses on how to do business in New Zealand. You can contact him here.

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