who gains from superannuation ?
484914
The Tax Office has issued a Practice Statement concerning the tax issues arising when there are distributions of trust income and capital gains to separate beneficiaries.\n\nBased on the technical application of the law, a beneficiary entitled to a share of trust ‘income’ pays tax on that share of the trust’s net (taxable) income. As a capital gain is not ‘income’, beneficiaries entitled to income may be taxed on capital gains distributed to other beneficiaries, although they have no entitlement to the cash.\n\nThe Practice Statement outlines two practical approaches that will be accepted by the Tax Office in certain circumstances.\n\nThe first enables the beneficiary who receives the benefit of the capital gain to bear the tax.\n\nAlternatively, in certain cases, the trustee can be chosen to recognise the tax liability. A written agreement may be required between the trustee and the beneficiaries. \n\nThe Practice Statement focuses on trusts that have separate ‘income’ and ‘capital’ beneficiaries. However, its application to ordinary discretionary trusts is also acknowledged.\n\nOn contrary it differs from country to country with the percentage or the amount, but the basic remains same... check the link...
856689
you owe them nothing.  It's an OPTION for you to pay.\n\nIf you don't pay, your state pension when you retire will be X.   If you do pay, it will be X plus a little bit.   They send you the letter and you decide if you think that's a good investment or not.\n\nWork related pensions, and even most private sector pensions, are a better bet than the state one, so if you have £293 to put into a pension, put it into your works or private pension.\n\nPS I had a stack of these over the seven years that I was a student.  I never paid one of them.
1001264
If you held them for over a year, the tax rate is 15% (10% if your in the lower tax brackets)  If you held them for less than a year, the gains will be taxed at your effective tax rate.  If you have a loss, you can deduct up to 3000 per year and carry over the remaining losses to offset future gains.
428345
Do you mean preferred shares? The difference is the dividends on preferreds must be paid before any dividend on commons.
779296
NO.\nFBT is levied only on those fringe benfits which are shared by company with the employees.
1126701
Your basic state pension should be below your personal tax allowance and so you shouldn't pay any tax. You should also get a £200 heating allowance that is tax free and doesn't effect benefits like housing benefits and council tax benefits. Maybe, you have a private pension that has took you over the threshold. Income from investments can do the same. If it's investments - you can change them and go for investments that will give you growth as opposed to income. Investments that grow are subject to capital gains tax and you also have a personal allowance for capital gains tax of £8,800 a year. Maybe you could contact age concern and see if they can give you advice - make sure you are getting all your benefits and tax credits and investing in a tax efficient way. the system is unfair - that's why Gordon Brown has very little time to change economic policy to make it better the the old, disabled and chronically sick - or his chances of becoming the next Prime Minister - is no chance. He doesn't look after you and me - we don't vote for him and his corrupt cronies at the General Election. let them enjoy their jags, mansions, mistresses and the gravy train - it will come to a sudden end.
788138
I'm in Australia.  As far as I'm aware the estate of the deceased person is required to pay the outstanding debts.  So your mother, as beneficiary, is required to pay the debts out of the money that was left to her, rather than out of her own money.  If there is insufficient money in the estate, then it will not be necessary for her to make up the shortfall.
964264
It depends on how much you are making and how many dependents you are claiming. The tax standards were raised this year.
936701
The tax rate on long term capital gains other than listed securities or units is 20%. Thus , in your case , it will be 20% .\n          \nExplanation ot Section 112 of the I T Act makes it clear that ONLY securities or units have the benefit of option regarding indexation i.e 10% on LTCG without indexation or 20% with indexation.\n\nPlease read the Explanation to Section 112\n"Provided that where the tax payable in respect of any income arising from the transfer of a long-term capital asset, being listed securities or unit or zero coupon bond, exceeds ten per cent of the amount of capital gains before giving effect to the provisions of the second proviso to section 48, then, such excess shall be ignored for the purpose of computing the tax payable by the assessee."\n       As far as saving on LTCG is concerned , you can take the benefit of Section 54EC by investing whole of LTCG in bonds issued by   either  by the National Bank for Agriculture and Rural Development  or\n\nNational Highways Authority of India Rural  or Electrification Corporation Limited,or\nNational Housing Bank,or\nSmall Industries Development Bank of India ,\n\nwithin SIX months from the date of transfer .\n\nYou can also take the benefit of Section 54F of the I TAct for saving tax on long term capital gain tax by investing the Sale Value of the long term capital asset in any residential house  within a period of one year before or two years after the date on which the transfer took place purchased, or has within a period of three years after that date constructed, a residential house .\n\nRemember this benefit is not available to you in following cases\n i) You own more than one residential house, other than the new asset, on the date of transfer of the original asset; or\n\n(ii) You purchases any residential house, other than the new asset, within a period of one year after the date of transfer of the original asset; or\n\n(iii) You constructs any residential house, other than the new asset, within a period of three years after the date of transfer of the original asset; and
523002
They were bought out or merged.  I don't remember who by.  I should, though, I own a mutual fund through them.
165716
Check with a local financial planner, but my thought would be to look at the non-qualified variable annuities offered by global insurers like ING or Allianz.
933501
I received a similar amount from my deceased parents estate.\n90% is being invested for mine and my family's future. But with about 10% I bought some things I really wanted for myself and my family. I tried not to waste it on little things like Cd's that I could work into my weekly budget, but instead got the kids new beds and a few things we had been wanting for a while. This computer was one of those purchases, and we took a family holiday on the Indian Pacific train across Australia. \nAfter losing both my parents in recent years I needed some retail therapy, but I still have the rest of my life to think about and kids to provide for. So investment is the wisest  thing to do with a lump of cash like that, no matter where it comes from.
192864
It depends on the type of partnership. In a "regular" partnership, all the partners put in equal shares of money and they all have a say in how the money is used or invested. In a limited partnership, the principal partner(s) put up most of the money, but a number of limited partners put in smaller amounts. Only the principal partners get to say how the money is spent or invested.\n\nWhen the partnership ends, the partners get back a share of the profits based on how much they put in (called pro-rata) as a percentage of the total investment.\n\nBoth kinds of partners can add to the amounts they have invested while the partnership is still going.
1117822
yes, but hsbc and emigrantdirect have higher rates\n4.8 and 4.65 compare to ing's 4.25%
1118908
Yup.  Keep the new 5%-discounted shares 12 months for a 5% more shares free dole-out to you, plus approx 4.5% dividend for the year (plus/minus the market change in that year - probably a big plus if the Abbey's flotation is anything to go by) adds up to a very attractive proposition indeed. Value could easily increase by 20% in the year, most building societies are paying less than \nabout 4.5% for instant access. Use your wife's money to buy if she isn't an income tax payer and you're even more quids-in. \nI got all this info from my missus, she's read the mailing before me..
377599
They get gst, to one government department. Another department has a budget to give out money. Beurocracy is grand isn't it.\nhere in australia, people who work for the government get paid less than people in private industry. But people who work for the government get special benefits from other departments, which make up for there lower wages, come out of a different budget and ultimately cost the government the same if not more.\nAs i said, isn't beurocracy grand.
445874
it depends on the $ return!\n\nchavatshimshon>yahoo>co>uk