Antiquated Australian tax residency rules face overhaul
Australia’s individual tax residency rules have not changed in 90 years and desperately need modernisation and simplification, the country’s Board of Taxation has found.
Tax & Regulation
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Suspension lifted at Holborn Assets
Dubai-headquartered Holborn Assets Insurance Brokers has resumed normal business after the Insurance Authority suspension of the company’s licence was lifted on Monday, sources have told International Adviser.
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South Africa taxman names and shames
Any suggestion that the South Africa Revenue Service (Sars) was making empty threats when it said it would convict and publicly name those who failed to submit outstanding tax returns has officially been put to rest.
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UK government considers flat-rate pension tax
HM Treasury is investigating whether to introduce a flat rate of pension tax relief, in a bid to raise an extra £4bn (€4.5bn, $5.3bn) a year for the National Health Service (NHS).
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The privacy risks of cross border investing
What can unite the UK and Russia, Saudi Arabia and Qatar and Pakistan and India? The answer, as all nerds know, is not football but tax, specifically the Common Reporting Standard (CRS), according to Irwin Mitchell Private Wealth partner Alex Ruffel and solicitor Luke Micallef-Trigona.
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UK not banning unregulated Sipp investments
Despite admitting concerns about scams, the Financial Conduct Authority has confirmed that it is not currently considering barring unregulated or non-standard investments from inclusion in self-invested personal pensions (Sipp).
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LGBT victory in Hong Kong expat visa court ruling
A landmark court case means that same sex couples in civil partnerships will be eligible for spousal visas in Hong Kong.
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Higher offshore tax evasion penalties explained
The UK taxman has updated its factsheet on how it calculates new penalties for offshore tax evasion involving income tax, capital gains tax and inheritance tax.
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Holborn Assets has Dubai licence suspended
Dubai-based Holborn Assets Insurance Brokers has had its Insurance Authority licence suspended for three months, in a rare case of the regulator taking action over a complaint about what is believed to be the sale of a long-term savings product.
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International savings plans key to Jersey’s flexible future
UK legislative changes have caused a fundamental shift in the types of pension products that can be offered by international finance centres, with the Jersey Pensions Association (JPA) promoting international savings plans as a solution.
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Panama Papers law firm unable to identify 75% of its clients
A leak of 1.2 million new documents shows that Mossack Fonseca, the law firm at the centre of the Panama Papers scandal, could not identify the owners of up to three quarters of the companies it administered.
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Should Australia introduce a UK-style restricted advice model?
With the vertically-integrated advice model under fire and the cost of financial advice being more than the average Australian is prepared to pay, could a UK-style tied model be the solution?