Frank Greene’s Post

📰 𝗪𝗶𝘁𝗵𝗵𝗼𝗹𝗱𝗶𝗻𝗴 𝘁𝗮𝘅 𝗼𝗻 𝗱𝗶𝘃𝗶𝗱𝗲𝗻𝗱𝘀 𝘁𝗼 𝗳𝗼𝗿𝗲𝗶𝗴𝗻 𝗽𝘂𝗯𝗹𝗶𝗰 𝗽𝗲𝗻𝘀𝗶𝗼𝗻 𝗶𝗻𝘀𝘁𝗶𝘁𝘂𝘁𝗶𝗼𝗻𝘀 𝗶𝘀 𝗰𝗼𝗻𝘁𝗿𝗮𝗿𝘆 𝘁𝗼 𝗘𝗨 𝗹𝗮𝘄 On 29 July 2024, the Court of Justice of the European Union (the “CJEU”) delivered its judgement in a case between the Swedish Tax Agency and three Finnish public pension funds, regarding the levy of withholding tax on foreign public pension institutions. The ruling demonstrates that the Swedish rules regarding the levy of withholding tax are contrary to EU law, when such withholding tax is levied on dividend distributions to certain foreign public pension institutions. For a detailed analysis, read the full article here: https://lnkd.in/d4c59NqS

You can usually claim tax relief on private pension contributions worth up to 100% of your annual earnings, subject to the overriding limits. Tax relief is paid on pension contributions at the highest rate of income tax paid. #TaxPensionContributions #PensionsTaxRelief

Under the Tax Cuts and Jobs Act (TCJA), the deductibility of managed account fees, including financial advisor and investment management fees, has been eliminated for tax years 2018 through 2025. These fees, previously deductible as miscellaneous itemized deductions if they exceeded 2% of adjusted gross income (AGI), are no longer eligible for deduction on personal tax returns until the provision potentially expires after 2025. For personalized advice, consulting a tax professional is recommended. Connie Dello Buono guaranteed retirement income for life 4088541883

Our April Super Update provides a comprehensive summary of the draft defined benefit regulations for Division 296 tax. We explore a Treasury consultation on enhancing the performance test, proposed updates to Family Law (Superannuation) regulations, and draft amendments to APRA’s prudential standard SPS 114 and guidance on the ORFR. See the full update: https://ow.ly/iw1V50RrtS3 #WTWAustralia #retirement #superannuation

➡️ In this video, we delve into the latest updates on 𝗙𝗮𝗺𝗶𝗹𝘆 𝗣𝗲𝗻𝘀𝗶𝗼𝗻 𝗧𝗮𝘅𝗮𝘁𝗶𝗼𝗻 𝘂𝗻𝗱𝗲𝗿 𝘁𝗵𝗲 𝗜𝗻𝗰𝗼𝗺𝗲-𝗧𝗮𝘅 𝗔𝗰𝘁. 🔎 Discover the proposed changes under the new tax regime u/s 115BAC, including the enhancement of the family pension deduction limit from ₹𝟭𝟱,𝟬𝟬𝟬 𝘁𝗼 ₹𝟮𝟱,𝟬𝟬𝟬. We'll explain the details of section 56 and section 57(iia), and how these changes impact family pensioners. 💰💼 Stay informed with all the key tax amendments and make the best financial decisions for your future! #Budget2024 #FinanceBill2024 #FamilyPension #IncomeTaxAct #IncomeTax #TaxCompliance #TaxPlanning #TaxAmendments #StandardDeduction #Prosperrio

You can usually claim tax relief on private pension contributions worth up to 100% of your annual earnings, subject to the overriding limits. Tax relief is paid on pension contributions at the highest rate of income tax paid. #TaxPensionContributions #PensionsTaxRelief

The recent proposal to introduce an additional 15% tax on superannuation balances exceeding $3 million has ignited a wave of strategic planning for retirees. My latest The Australian Financial Review column talks to the potential implications of this and considerations people need to make. #retirement #superannuation #retirementplanning #super https://lnkd.in/gAt_F4bw

The best month to retire depends on individual financial and personal circumstances. End of the Year: Retiring at the end of December can maximize unpaid leave payouts and align pension benefits to start in January, though it may not reduce taxes significantly13. Beginning of the Year: Retiring in January may help avoid multiple required minimum distributions (RMDs) in the same year, benefiting those over RMD age1. Mid-Year: Retiring mid-year can lower your taxable income for that year, potentially allowing for strategic tax planning such as Roth conversions24.

Have you used your annual pension allowance? Let’s get started… 2024/25 Tax Year Planning. We can help you. #TheOpenworkPartnership #TaxYearPlanning #Pension HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen. Approved by The Openwork Partnership on 26/04/2024.

Many retirees rely on Social Security as a significant part of their income in retirement. However, what some may not realize is that a portion of their Social Security benefits could be subject to federal income tax, depending on their total income. The IRS uses a formula to determine if your Social Security benefits are taxable, based on your combined income. It's important to understand these rules and plan accordingly to avoid any surprises come tax time. Consulting with a tax professional can help you understand how Social Security benefits are taxed and what steps you can take to minimize the tax impact.