NAB challenges $479m tax bill Nov 17, 2009
Meanwhile, the ATO is cracking down on private equity groups using offshore structures to avoid paying capital gains tax on asset disposals, such as occurred with the float of Myer. Source. (Sydney Morning Herald -- Business)
FACT CHECK: Palin's book goes rogue on some facts Nov 17, 2009
PALIN: Says Ronald Reagan faced an even worse recession than the one that appears to be ending now, and "showed us how to get out of one. If you want real job growth, cut capital gains taxes and slay the death tax once and for all.". THE FACTS: The estate tax, which some call the death tax, was not repealed under Reagan and capital gains taxes are lower now than when Reagan was president. (San Francisco Chronicle -- Sports)
Health Care Reform: More Taxes on the WayTaxes will increase under health reform bills. Nov 17, 2009
But several are urging Reid to propose extending the Medicare payroll tax to income other than wages, such as capital gains, dividends and rental income ... Some Republicans and Wall Street investors say tapping into high-end earners and capital gains will soak the rich and hurt an already ailing economy. (ABC News -- Business)
Tax Office pursues hobo investors who take the cream but never pay their dues Nov 17, 2009
A key change occurred in 2006 when the Tax Laws Amendment Bill exempted overseas investors from paying capital gains tax on sales unless the asset disposed of was property-rich, with at least 50 per cent of its value represented by real estate ... The edge flows from the fact that someone who does not pay capital gains tax can afford to pay more for an asset yet generate the same return as an Australian firm that must do its sums knowing it will have to pay capital gains tax ... The capital... (Sydney Morning Herald -- Business)
U.S. Trustee Objects to Third-Party Releases in LandAmerica's Reorganization Plan Nov 17, 2009
Pursuant to Section 1031 of the Internal Revenue Code, the IRS allows taxpayers to defer capital gains on certain kinds of property sales if the seller uses the proceeds to buy other property within a set time frame. In February 2008, the market for auction-rate securities -- bonds with interest rates set at periodic auctions -- stalled when major brokerage houses stopped propping up the market by buying securities when demand waned. (Law.com)
Understanding your tax exposure Nov 16, 2009
In a nutshell, an equitable system will now be in place as income tax are imposed on income derived by any person in Malaysia while RPGT, on capital gains on disposal of landed properties. There will not be any loss of revenue to the Government. (The Star Online, Malaysia -- Business)
Property prospects still good Nov 16, 2009
What scenarios can we consider with regards to capital gains tax, the interest on the loans we are paying and the baby bonus considering my wife is not planning to go back to work for six or more months ... If your wife expects a fairly large capital gains tax bill, she can reduce her overall income in 2009-10 by salary sacrificing a large portion of her salary, perhaps even 100 per cent, between now and March, thus hopefully reducing the amount of income being taxed in the higher tax brackets. (Sydney Morning Herald)
Pagliuca’s campaign stance on lobbyists contrasts with Bain Capital’s record Nov 16, 2009
A significant portion of their profits is taxed as capital gains, at a 15 percent rate, compared with the 35 percent rate they would pay if it were classified as regular income ... He says he wants to raise the rate on all capital gains earnings to 20 percent - the level they were at before tax cuts enacted under the Bush administration. (Boston Globe)
CyberAgent Reports Full Year Results; Consolidated Sales Rise 7.8% Nov 15, 2009
The business has several responsibilities, including discovering, developing, and raising the value of promising venture companies with the goal of generating capital gains. For various reasons including the disposal of its holding, sales decreased 89. (JCN Network, Japan)
Creating jobs, one at a time Nov 15, 2009
These reforms crack down on excessive executive compensation and reverse the Bush capital gains tax cuts. I would then reinvest these new funds into job tax credits to provide businesses incentives to hire again and the job training and education workers need to get the high-paying jobs of the future. (Boston Globe)
Save capital gains tax on sale of property Nov 15, 2009
Property is regarded as a capital asset and any gains arising from the sale of property is assessed under the head 'Capital Gains' as per the Income Tax Act. Property can take the form of a short-term capital asset or long-term capital asset depending on the period for which it is held. (India Times)
Tough decisions needed for budget: govt Nov 15, 2009
"It artificially pumped up tax receipts in a range of areas like company and capital gains tax.". Australia was unlikely to return to the heady days it experienced before the global financial crisis hit in 2007 when the nation was "awash with money". (Sydney Morning Herald -- Australia)
Ian McIlwraith Assault on Myer a baffling shot across the bows Nov 14, 2009
What is confounding the tax experts is that under 2006 amendments to the levying of capital gains tax, there is now an exemption if the first holding company is incorporated offshore, with Australia agreeing to allow that shareholder to be taxed in its country of incorporation - in this case the Netherlands. The ''smoking gun'' presented to the court on Wednesday night by the commissioner's counsel, Terry Murphy, SC, was a hand-drawn chart of the ownership of part of Myer. (Sydney Morning Herald -- Business)
The One Thing Nov 13, 2009
Except, Bridgewater State spokesman Bryan Baldwin said the actual number of new jobs was "almost nothing.'' Almost nothing sounds more like it. How about the 90 jobs at another agency created with $245,000 for a preschool Head Start program: That's $2,700 per full-time job or $51 a week. 00004000 They aren't creating jobs. At least if they are creating jobs, they are creating jobs that won't get a family of four one Happy Meal a day for a week. And by the way you'd have to live in the box. Now... (Fox News)
Experts divided over cost of US health care overhaul Nov 13, 2009
"Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.". The Senate plan would levy new taxes on drug companies, medical equipment manufacturers and insurance firms. (Xinhuanet, China)
Orszag Says Health Bill Will Pass This Year, May Include Capital Gains Tax Nov 13, 2009
Nov. 13 (Bloomberg) -- White House Budget Director said he expects President to sign a bill to overhaul the U.S. health-care system this year, as lawmakers consider a new tax on capital gains to help fund it ... One proposal being considered by lawmakers is to apply Medicare taxes to capital gains earned by wealthy Americans. (Bloomberg -- US)
Stock questions? Ask Matt Nov 13, 2009
Quicken has a built-in feature, called the Capital Gains Estimator, which lets you see at any time what kind of tax hit you might take if you buy or sell stocks. Quicken tallies all the cost basis information for all your accounts, including retirement accounts and regular taxable accounts. (USA Today -- Money)
Lottery success Nov 13, 2009
Although the 21-year-old might be able to put the majority in tax-free Individual Savings Accounts, the older investors would face capital gains and income tax on at least some of their investment income. Unlike the annuity, these investments can be handed down to children in a will. (BBC News -- UK)
Property, tax and returns... Nov 13, 2009
It is taxable under the head capital gains. Rent from commercial property. (India Times)
Talking to Investment Strategist Byron Wien of Blackstone Nov 13, 2009
I'm not afraid of the capital gains tax and eliminating the dividend exclusion. I think I'm sort of against this health-care tax. (BusinessWeek)
LETTER: Obama dismantling free-market system Nov 13, 2009
even steven wrote on Nov 12, 2009 11:05 AM:" The Democrat's war on capitalism is just getting started. Hidden in the insane and Unconstitutional Pelosi government health care takeover bill is a 69% increase of the capital gains tax and a stealth provision to undermine state's abilities to limit attorney's fees or impose caps on damages. Coupled with the expiration of the Bush tax cuts, increased size of and spending by government, reduced purchasing power of the dollar, higher food prices,... (Mattoon Journal-Gazette, IL)
The Lost Decade Nov 12, 2009
As this shows, stocks went precisely nowhere in the past decade, despite all the efforts to help the market, from slashing capital gains and dividend taxes to keeping interest rates extremely low to bailing out just about everyone. Meanwhile, Americans seem to have lost their interest in investing. (Slate)
Tax saving strategies add to holiday cheer Nov 11, 2009
- Smart ways to donate to your favourite charity before the year's end (Canada Newswire)
Rebuild the foundations Nov 11, 2009
However, in this case, La Greca says the amount transferred to the member will need to be more than $4950 to cover capital gains or lump-sum benefits tax incurred by the fund and to take account of the fact the transfer will reduce the fund's assets. Are there any other issues to be considered. (Sydney Morning Herald -- Business)
ATTORNEY GENERAL WILL SPEAK TO CONTROVERSIAL MUSLIM CIVIL RIGHTS GROUP... Nov 10, 2009
What he left was a PROJECTED FIVE YEAR surplus based on the assumption of continued revenue streams, largely, from capital gains taxes which were fuelled by the stock market bubble of the late 1990s. When that market finally topped and came in, those "PROJECTED" cap gains receits became the ghost they always were. (The Drudge Report)
Dish beats on subscribers, sets special dividend Nov 10, 2009
Earn Capital Gains in Dividend Stocks. Learn from The Motley Fool. (Yahoo News -- Technology)
You Really Need This in Your Portfolio Nov 10, 2009
After your death, your heirs won't owe any capital gains tax on stocks they inherit, potentially saving thousands in income tax. Perhaps more importantly, passing on stock can encourage your descendants to pay more attention to investing in their lives as well. (MSNBC -- Business)
Lieberman’s threat of filibuster looms large Nov 9, 2009
Just thinking about a long-ago crossover vote for a capital gains tax cut brightens Lieberman s worried countenance. I feel good, it s been a good chapter in my career, I m doing my independent thing but I feel I m out of the crossfire, he recalls telling his wife last month. (Boston Globe)
Expense reform 'must not unravel' Nov 8, 2009
"If he's going to abandon the ban on spouses and allow MPs to continue with mortgages, that rips the heart out of what Christopher Kelly said - there's not very much left after that. MPs will never again have any say over their allowances Sir Stuart BellCommons' Members Estimates Committee "It will fuel suspicion, I'm afraid, amongst the public at large that, just as this matter was being put to bed, here is another behind-the-scenes stitch-up," he said. Sir Alistair Graham, the former chairman... (BBC News -- UK)
Voters thinking about jobs, not Obama Nov 7, 2009
Cut capital gains taxes to 0. Cut income taxes. (Atlanta Journal-Constitution -- Opinion)
Lityans quick turn after Lembaga Tabung Haji steps in Nov 7, 2009
LTH goes for capital gains over the long term. It prefers taking strategic stakes in companies deemed to offer synergistic benefits. (The Star Online, Malaysia -- Business)
Mihos urges tax cuts Nov 7, 2009
In addition, Mihos said he wants to eliminate the estate tax, cut the capital gains tax, decrease the income tax to 4 percent, cut filing fees for small businesses and take down tolls on the Mass. Turnpike. (Allston Brighton TAB, MA)
Doubts cast over expenses reforms Nov 7, 2009
But the Telegraph said on Saturday that Sir Ian was unhappy with some of them, including the move to compel MPs to return any capital gains made from the sale of second homes to the taxpayer. He was also reportedly concerned about the proposal to ban MPs from employing relatives on their payroll. (BBC News -- UK)
* Office property market to outperform peers Nov 6, 2009
When the Asian market reverses it downward course next year, the market in Taipei will likely see a meager decline of between 5 percent and 15 percent in rents and another decline of between zero and 10 percent in capital gains X the least worst in Asia, Tony Chao (q), managing director of Jones Lang LaSalle Taiwan, added at the briefing. The capital markets of commercial properties in Beijing and Shanghai are relatively less affected since the realtor forecast their markets would... (Taipei Times, Taiwan -- World Business)
Will the next Paul Tsongas please stand up Nov 6, 2009
6 percent, and increasing the capital gains tax from 15 to 20 percent. This sounds like a thoughtful plan, but in large part, Pagliuca is simply using rosy assumptions to wish away thorny realities. (Boston Globe)
Only employees gain from salary sacrificing into super Nov 6, 2009
Q My wife and I have a self-managed super fund and would like to know when both of us pass on and leave all the fund's assets to our children, will our SMSF share portfolio be subject to capital gains tax ... This means the fund goes from pension to accumulation phase and tax is payable on capital gains at 10 per cent. It can be a good practice for a super fund to regularly realise capital gains for re-investment while the fund is in pension mode ... By doing this, the impact of capital gains... (Sydney Morning Herald -- Business)
Government reviewing tax rules on savings, capital gains Nov 5, 2009
NEW DELHI: Government is debating the need for changes in its tax laws including that on saving schemes, ca 00004000 pital gains of non-residents and tax agreements with various nations, the finance ministry said in a statement on Thursday. The tax authorities are also considering changes in rules on the Minimum Alternate Tax (MAT) based on gross assets, taxation of foreign companies operating in India, charitable firms and house property, it said. (India Times)
Health-Care Reform's Hidden Taxes Nov 5, 2009
The White House has pledged that only the wealthy families earning more than $250,000 would face a boost in income, capital gains, or other taxes. For the 97% of Americans below that level, no increases are in store. (BusinessWeek)
'We're expecting regulatory okays for the IPO soon' Nov 4, 2009
We have decided to slow down the booking of capital gains, primarily because we feel that in the second half year we may do the stake sale of our life insurance company which will bring in substantial capita 00004000 l gains. So, by booking capital gains during this period does not make sense for us going forward unless the stake sale does not take place and therefore, we can obviously look at booking capital gains at that point. (India Times)
New heights for Singapore property Nov 4, 2009
During the 1996 property boom, the government imposed a capital gains tax on profits made from selling properties within three years of purchase ... Minister of Finance Tharman Shanmugaratnam recently said the government does not plan to impose capital gains taxes on property as part of new changes to the income tax code, which come into force in January next year. (Asia Times Online)
Deans Knight Income Corporation Announces Third Quarter 2009 Operating Update- Unaudited Nov 4, 2009
(1) The Company calculate net earnings as interest income less the on-going operating costs of the Company, and excluding any realized capital gains and losses and any income or loss not derived from debt securities ... 0 million of realized capital gains to September 30, 2009 from the sale of certain holdings. (CCNMatthews Press Releases)
Obama's Hidden Fees Nov 4, 2009
Campaigning in Dover, N.H., in September 2008, Obama declared: "I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.". Five months later, Obama signed a bill that more than doubled the federal cigarette tax, which falls especially heavily on the poor. (Townhall.com)
Ask Carrie: Is Your IRA an Emergency Fund? Nov 4, 2009
Accordingly, I would use up any existing taxable account assets you have -- like traditional brokerage accounts or mutual fund accounts outside your IRA --before starting to make withdrawals from your IRA. If you have investment gains, you'll owe taxes as you realize them, but they may be subject to preferential long-term capital gains tax treatment. But let's say all your investment assets are in your IRA and that you will need some cash when your unemployment benefits stop. (Townhall.com)
Carter Failed to Report $48,000 Profit in 2008 Nov 3, 2009
John Carter (R-Texas) acknowledged Monday that he had failed to report $48,000 in capital gains from stock sales in 2008, in addition to the approximately $300,000 he previously acknowledged misreporting in 2006 and 2007. LOG IN NOT A SUBSCRIBER. (Roll Call)
Enbridge Income Fund Announces Third Quarter Results, Evaluating Corporate Restructuring Nov 3, 2009
Public unitholders would have a choice either to effect the exchange on a tax-deferred basis if they have embedded capital gains on their units, or to realize any embedded gain or loss. It is anticipated that EIFH would maintain an investor value proposition similar to the Fund's current proposition - providing the bulk of the return to its investors in the form of a high cash payout which is safe and dependable. (CCNMatthews Press Releases)
* CEPD chief favors taxing capital gains on property Nov 3, 2009
CEPD chief favors taxing capital gains on property ... Currently, the government only imposes a levy on land incremental value and has spared capital gains from property transactions from taxes ... The CEPD chief said income from salary accounts for only about 45 percent of GDP, meaning that many derive income from other sources such as capital gains. (Taipei Times, Taiwan -- World)
Lower Your Taxes: 10 Moves to Make Now Nov 3, 2009
If your child has taxable income under $33,950, hell be in the zero-percent tax bracket for capital gains and dividends as long as his 2009 investment income is under $1,900. You might make a similar transfer to your elderly parents. (CBS News)
Can real property gains tax be minimised? Nov 3, 2009
Indirectly therefore, Mr B is taxed on his full capital gains and not merely on the gains made by Company B owned by him. RPGT or income tax. (The Star Online, Malaysia -- Business)
The value is the thing Nov 2, 2009
Companies are the worst structure to use due to their shareholders being severely disadvantaged when it comes to the small business capital gains tax concessions. If a business starts as a sole trader or partnership, there is nothing stopping the owners at a later time changing to a family trust with a company acting as trustee to reduce their legal liability. (Sydney Morning Herald -- Business)
Baby steps by Malaysia towards high-income economy Nov 2, 2009
Malaysias sole capital gains tax will be revived from January 2010 and disposals of real property irrespective of holding period by any person will be subject to an effective rate of tax of 5. The tax base will be widened at the expense of equity and the already soft real estate industry in Malaysia. (The Star Online, Malaysia -- Business)
Property rally raises fear of rate rise Nov 2, 2009
" House prices in Darwin rose 3.4 per cent, while Hobart's increased 1.8 per cent. Adelaide's rose the least of the eight capital cities, only 1.7 per cent. The boost to the government's first home-buyers grant, announced about a year ago, was cut at the end of September and will be phased out at the end of the year. "Despite this, we expect that strong rental yields and the prospect of future capital gains are enticing many investors to enter the market in the second half of 2009 and early... (Sydney Morning Herald -- Business)
Income from property and its taxation Nov 1, 2009
It is taxable under the head 'capital gains. In case the amount realized is reinvested in property or some specified securities, it is not taxable. (India Times)
Take Stock in Florida: As decade nears its end, look at investment techniques Nov 1, 2009
In retrospect, he sold "too soon," as the top came later and he had to pay capital gains taxes as well. Bob has since rented a luxury condo on the ocean. (The News-Press -- Business)
Reimposition of real property gains tax appears untimely Oct 31, 2009
Some also voice concern that extending the tax on long-term property owners will be like imposing a capital gains tax on them when there is no tax on gains made from equity trading. Another concern is the timing of the implementation. (The Star Online, Malaysia -- Business)
New Tax code: Pay 10% tax for salary up to Rs 10L Oct 31, 2009
While the code proposes abolition of the controversial STT, it also suggests reintroduction of tax on long term capital gains on securities trading. "The language is very, very simple. By putting simple language and simple forms, we will eliminate litigations as far as possible," Mukherjee said. (India Times, India)
Household lending in positive territory Oct 30, 2009
And he advocated scrapping tax on interest and capital gains to encourage savings. He urged an increase in VAT and fuel levies to deter consumption in the future, when the low level of interest rates revives consumption spending. (Business Report, South Africa)
Top Article: Code And After Oct 29, 2009
There is a major change in the treatment of capital gains. The distinction between short- and long-term capital gains is abolished and capital gains will be taxed at the same rate as income. (India Times, India)
Experts Warn: Tax Hikes Would Undercut Economy Oct 29, 2009
During the second half of Clinton s first term, Clinton s modified policies validated the supply-side economic model by promoting free trade and tight-fisted budgets, signing a capital gains tax cut, appointing Alan Greenspan twice to the Federal Reserve Board, and enacting welfare reform, the authors wrote ... 5% to 15%; capital gains from 20% to 15%; personal income for the highest earners from 39 ... If the tax cuts enacted during the administration of George W. Bush expire at the end of... (Human Events Online)
Teck Reports Third Quarter Results for 2009 Oct 29, 2009
This is the result of the significant foreign exchange gains in the quarter, which is subject to the lower capital gains tax rate. This was partially offset by the effect of resource taxes in Canada. (CCNMatthews Press Releases)
Is it a Good Idea to Borrow in Order to Buy Stocks? Oct 28, 2009
Granted dividends and capital gains are taxed differently(for now), but the taxes should be considered on both sides for a fair comparison. (). (Townhall.com)
Disney sets out to make 'The Passion for kids' Oct 28, 2009
MPs who flipped their second homes to maximise their expenses or avoided paying capital gains tax will escape censure. Georgia Davis, the British girl who lost half of her 33 stone bulk at an American boot camp, has started to pile the weight back on after failing to conquer her love of junk food. (Yahoo News -- 'The Passion of the Christ')
Dividend Appeal Is Strong With These Five Stocks Oct 27, 2009
From 1926 through 2006, dividends (and capital gains achieved by reinvesting dividends) accounted for about 40 percent of the total return on the. On the the figure is even higher, about 44 percent. (Bloomberg -- Columnists)
State Budget Shortfalls Reveal Economic Fallacy Oct 27, 2009
The tax policy that deserves at least some of the credit for the economic performance of the 1990s was the 1997 cut in capital gains tax, which spurred growth and investment and helped bring about federal budget surpluses. The National Foundation for American Policy study shows the United States is not just one large national economy but is made up of dozens or even hundreds of individual economies where growth in jobs, population and personal income are affected by state and local policies. (Townhall.com)
A night for ducking the questions Oct 27, 2009
Pagliuca talked about raising rates on upper earners as well as hiking the capital gains tax rate. Bottom line: Capuano and Coakley seemed like two practiced pols intent on minimizing their exposure. (Boston Globe -- Editorial)
Tory MP survives confidence vote Oct 27, 2009
The MP for Epping Forest was criticised for not paying capital gains tax on the sale of two properties on which she had claimed public money ... Mrs Laing, a shadow justice minister, faced widespread criticism for not paying 180,000 capital gains tax on the sale of two Westminster flats, on which she made a reported 1m profit. (BBC News -- UK)
