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New On The Lowtax Network Today
This feed is published daily with selected new or updated
content from across the Lowtax Network. For a list of Lowtax Network
sites, many of which feature daily news, see
below. |
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| TODAY 12/03: Lowtax
Costa Rica, annual update |
| 11/03 Estonia
Summary PBTG Guide, added to Personal Business Tax Guide |
| 10/03 Lowtax
Labuan, annual update |
| 09/03 Word
Search Puzzle, on Lowtax |
| 08/03 Jobs
For All,
Jeremy Hetherington-Gore blog |
| 05/03 Belgium
Summary PBTG Guide,
added to Personal Business Tax Guide |
| 04/03 New
Lowtax Editor Column,
by Kitty Miv |
03/03  Personal
Business Tax Guide, PBTG, has launched!
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| Providing essential tax news and information
for globally mobile artists, contractors, entrepreneurs, professionals,
small businesses, sportspersons and entertainers. |
| 02/03 Personal
Equity Investment In 2010: Not Just For Expats…, Investors Offshore special feature
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| 24/02 Lowtax
Cyprus, annual update
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| 22/02 Lowtax
Brunei, annual update
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| 17/02 Dubai
- A Stately Business Dome Decreed, Investors Offshore special feature
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| 15/02 Lowtax
Australia,
major content expansion
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| 27/01 Lowtax
Germany, major content expansion
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| Lowtax Network Sites |
| Lowtax Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
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| Change To Australian Forestry Managed Investment Scheme Tax Rules |
by Mary Swire, Tax-News.com, Hong Kong
Wednesday, December 23, 2009
Australia’s Assistant Treasurer, Nick Sherry, has released for public
consultation draft legislation to change a key tax rule for forestry managed
investment schemes (MISs) that will protect investors in recently collapsed schemes.
The four-year holding rules were introduced in 2007 as part of a package to
regulate secondary trading of forestry interests. The government had previously
announced that it was aware that the collapse, earlier this year, of MISs managed
by Timbercorp and Great Southern was expected to lead to a number of forestry
MISs being wound up or restructured.
That could cause investors to fail the current requirement of having held their
interest in the MISs for four years as a condition of an up-front tax deduction.
"With this measure, the government is protecting around 19,000 investors
in collapsed forestry managed investment schemes from an unintended adverse
tax outcome," Sherry said.
The draft legislation amends the four-year rule to allow an investor's deduction
to stand if a capital gains tax (CGT) event happens because of circumstances
outside the initial investor's control, and the initial investor could not have
reasonably foreseen this CGT event happening, at the time they acquired the
forestry interest.
The rule applies to CGT events from July 1, 2007, and the amendments in the draft
legislation would take effect from that date.
The draft legislation also amends the promoter penalty provisions to ensure
the law continues to deter forestry MISs covered by Australian Taxation Office
product rulings from being implemented in a way that is materially different
from that described in the product ruling.
A comprehensive report in our Intelligence Report series
examining tax-sheltering arrangements for investors, including Venture Capital,
Forest Finance and Film Finance in a number of key jurisdictions, is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp
and a description of the report can be seen at
http://www.lowtaxlibrary.com/asp/description_report5.asp
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| THE LOWTAX LIBRARY
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