Richard Hollowood CFA’s Post

In the backdrop of a continuing slump in household consumption and subdued private sector investments, Union finance minister Nirmala Sitharaman could consider measures aimed at rationalising tax structure, tinkering specifically with the tax rates for lower income segments in the union budget 2024–25 that he unveils in a few weeks now. Rationalising tax structure would help boost household consumption, thereby pushing private capital in consumer-focused sectors and providing a fillip to economic activity. Given the fact that tax rates and holding periods vary across asset classes, the finance minister could explore bringing about some alignment. Along with a comprehensive review of existing tax systems in the country, no stone will be left unturned to rationalise the GST rate, which now affects a wider segment of the population. Concerted measures to increase the tax base, reduce the tax burden, and ease compliance also brook no delay.

THRESHOLDS This new Labour government looks like it is going to freeze the thresholds even further on who pays income tax. I will make it even harder and more people paying more tax. As I explain in this clip, they easily have the money to unfreeze the threshold and help tens of millions of people through the cost of living crisis but they choose not to do it? Why did you vote for people like this? https://lnkd.in/eNNcnZ32

The previous Government famously froze rates and allowances, meaning wage increases have pulled more people into higher tax rates. Will we see more of this in this Autumn Budget? Reducing additional rate bandings will also increase taxes without increasing actual rates. #AutumnBudget #IncomeTax #HiveBusiness

🎉 Good News, Canadians! 🍁 Trudeau Announces GST Cut on Groceries and New $250 Rebate 💰 What's Tax-Free Under Trudeau’s Promised GST/HST Break? 🚫💸 🍽️ Restaurant and take-out meals 🍕 Prepared foods and snacks 🎮 Toys and video game consoles 🍷 Alcohol up to 7% ABV 👗 Children's clothes and shoes 👩🍼 Car seats and diapers 🎄 Christmas trees How do you feel about this tax break? Will it make a difference for you and your family? Share your thoughts in the comments below! 👇 #Justintrudeau #canada #taxcut #tax #trudeau #elections2025

Are you up to date on the changes for the 2024/2025 tax year? ✂️ National insurance rate reduced from 10% to 8% for employees and from 8% to 6% for self-employed. 📈 VAT registration threshold raised from £85,000 to £90,000. 💷 National living wage age lowered from 23 to 21. 🏠 Capital gains rates dropped from 28% to 24%. Share your thoughts on these changes in the comments below👇

In Union Budget 2024-25, the government has simplified Long Term Capital Gains (LTCG) tax on housing sales by reducing the rate to 12.5% but removing indexation benefits. Anshul Jain, in an ET story, analyzes this move as part of a broader effort to streamline the tax structure. Read the The Economic Times story by Faizan Haidar here https://lnkd.in/drKMf2h4 #realestate #unionbudget #cushmanandwakefield

📊 Middle-class Disappointed With Union Budget 2024? Key Points & Insights Finance Minister Nirmala Sitharaman unveiled Union Budget for 2024, marking significant shifts and continuities in tax frameworks: 1. Middle-class relief through tax adjustments 🏦: Income of Rs 3-7 Lakh now taxed at 5%, extending relief. 2. On the flip side, no new benefits under the old tax regime, impacting some traditional saving strategies. 3. Capital gains adjustment 📈: Small relief with an exemption limit raised from Rs 1 Lakh to Rs 1.25 Lakh, yet higher taxes on mutual fund and share profits might offset gains. 4. Property sales tweak ❤️🔥: LTCG on immovable properties reduced to 12.5%, albeit the removal of indexation benefits might increase the tax burden. Professionals, how will these changes impact you personally and professionally? Share your thoughts! #UnionBudget2024 #Finance #TaxReform #NirmalaSitharaman #MiddleClass #TaxRelief #Investment #CapitalGainsTax #RealEstateInvesting #StockMarket #MutualFunds #FinancialPlanning #EconomicGrowth #GovernmentPolicy #BudgetAnalysis

Union Budget 2024, new tax regime will come in effect from Monday, April 1, 2024. People are getting confused due to the misleading information being spread across certain social media platforms. Read the Article Here: https://lnkd.in/gjXZVfFn . . . . #NewTaxRegime #UnionBudget #UnionBudget2024 #mondaynews #NirmalaSitharamana #socialnetworking #news #todaynews #newsoftheday #newsupdate #newsalert #todayalert #dailynews #dailynewsupdate #todayalert

It’s time for the Prime Minister to meet with Premiers to address the failed carbon tax. Canadians can’t afford to keep seeing these endless tax hikes that drive the cost of everything up. Will he finally listen? Or keep being out-of-touch with 70% of Canadians?

Lots of talk around no increases to Income Tax regardless of which government is elected. However, the tax burden is set to grow regardless of government, why? One factor is the freezing of the tax thresholds. This means that whilst the monetary amount of the Personal Allowance, Basic and Higher rate tax thresholds stay the same - the buying power that money has is reduced each year by inflation. We’ve all had conversations about inflationary pay rises, and some have had luck here, however if tax thresholds don’t also move in line with this, you don’t get all the benefit. This is set to continue until 2028, until then, there’s even more reason to make the most of the tax allowances you’ve got! https://lnkd.in/e7H7jzsR