Gearóid O'Sullivan’s Post

🤩 Thursday's Annual Tax Conference is not to be missed, with a fantastic line-up of speakers this is a must attend for all accountants, tax professionals and business advisors and professionals. 🖇️ Book your ticket here: https://lnkd.in/e8kTgwNM #tax #taxconference #CPD #CPDhrs #revenue #taxappeals #taxpolicy #finance #greentaxes #pensions

The Tax Laws Amendment Bill 2024 is here, reintroducing critical tax provisions with an eye toward transparency and fiscal reform. After the withdrawal of the Finance Bill 2024, this amendment bill brings forward key proposals like the introduction of a minimum top-up tax for multinationals, expanded exemptions for pension contributions, revised VAT rules, and adjustments to excise duty. Public participation remains a cornerstone as the National Assembly reviews this bill to ensure it meets the needs of businesses and individuals alike. Check out the full analysis on our website: https://lnkd.in/dN8CCgE3

With the new tax year fast approaching I thought it would be useful to summarise the Budget changes that are being implemented from 6th April! #taxyearend #investmentplanning #retirementplanning # financialadvice #financialeducation #Capitalgainstax #ISAallowances

Reminder: Changes to tax code need to go through the House and the Senate before the President can sign it into law. With a heavily divided congress, drastic changes are just not going to happen. But it is VERY interesting to see what is being proposed. It signals what top policy makers are thinking about. For the high earning tech audience-- Perhaps the days of the Mega Back Door Roth are coming to a close. 2025 is going to be a hot year for tax discussions and budget proposals. If nothing happens the Trump era tax cuts will expire, increasing taxation at the higher tax brackets. 2024 will just give us an early glimpse into what might be to come. https://lnkd.in/eGAeYkTa

In an insightful conversation with The Economic Times, CA Abhishek Soni, the Co-founder, and CEO of #Tax2win, shared his views on "Tax implications for senior citizens after budget 2024, know what changed and what continues". Read more at: https://lnkd.in/gQfXDsNR

Australia’s strong economy provides a favourable environment for high income earners. Unfortunately, with increased earnings, comes increased taxes. And with increased taxes, comes greater responsibility to manage your tax obligations effectively. This is where strategic tax planning comes in! Read full article: https://lnkd.in/gs8BkkY7

The #AutumnBudget2024 date has been announced as 30 October 2024. Rachel Reeves is building up to tax increases. Capital Gains Tax (CGT) and higher rate relief on pension contributions are the likely targets. Craig Simpson, Tax Partner at Bates Weston sets the scene for tax increases and the actions to consider. #UKBudget #AutumnBudget2024 #Tax #UKTax https://lnkd.in/ga6Zybaf

Anticipating Tax Changes in the UK Autumn Budget 2024 As the UK anticipates the Autumn Budget on October 30, 2024, significant tax policy shifts may be on the horizon. Chancellor Rachel Reeves has signaled “tough decisions” to address fiscal challenges, creating an environment ripe for potential tax reforms. Key areas to watch include: 1. Capital Gains and Inheritance Tax Adjustments Labour’s stance on wealth redistribution may result in higher capital gains or inheritance tax rates, targeting wealthier individuals. This could impact estate planning and asset management strategies for high-net-worth clients. 2. Employer National Insurance Contributions Although Labour has pledged not to raise income tax, VAT, or employee National Insurance, changes to employer contributions may be possible. This could affect businesses’ operational costs, making efficient tax structuring critical. 3. Non-Domiciled Tax Status There’s speculation that the government may target the non-dom tax status, aligning with its broader tax fairness agenda. Ending or modifying this status could lead to increased tax liabilities for non-domiciled individuals in the UK. 4. Corporate and Environmental Tax Incentives Businesses may see revised corporate tax policies, potentially with new incentives aimed at sustainable practices and renewable energy investments. Such measures would align with Labour’s goals for economic growth and environmental responsibility. 5. Pension Taxation Pension tax relief may be re-evaluated, particularly regarding employer tax breaks and the cap on tax-free pension lump sums. For individuals nearing retirement, planning around these potential changes could be crucial. Preparing for What’s Next With these potential changes on the horizon, businesses and individuals need a proactive approach to tax planning. At Edwards Fosse, we help clients navigate the complexities of tax policy shifts, providing tailored advice to protect wealth and maintain compliance. #tax #govt #budget #autumnbudget #labour #budget24

Draft regulations for the Division 296 tax on defined benefit interests highlight the government's efforts to refine superannuation tax rules. Scheduled for a 1 July 2025 start, if passed, this measure targets super earnings above $3 million, modifying the earnings formula to include notional contributions.  The intent is to reflect modern economic conditions more accurately, ensuring fair valuation of defined benefit interests and appropriate tax treatment.  This initiative is part of a broader consultation process, open until 26 April 2024, inviting feedback to ensure the regulations are both fair and reflective of the current financial landscape. Full article here: https://bit.ly/43FIypS #Division296Tax #SuperannuationReform #TaxConsultation

Are you tax-ready for the new tax year? Find out how to make sure your savings and investments are as tax efficient as possible by using every available allowance and exemption. #TakeControl #InvestmentPlanning #RetirementPlanning