Prescription for doctors

Article Abstract:

Physicians and dentists in Canada managed to reduce their income taxes in the 1980s by forming management companies (MC). However, the advent of GST in 1991 vastly restricted the MC's tax advantages. Health care professionals have since resorted to an alternative corporate form, the technical service corporation (TSC), to maximize their net income. A TSC eschews the GST by providing tax-exempt health care services only. It also allows the incorporation of technical services related to health care such as X-ray and laboratory tests.

Personal Tax Planning, Offices and clinics of dentists, Offices of Dentists, Offices & clinics of medical doctors, Physicians & Surgeons, Offices of Physicians (except Mental Health Specialists), Dentists, Methods, Canada, Personal finance, Physicians, Medical professions, Medical personnel, Tax policy, Medical corporations

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Pet care: Inheritance tax has yet to feel the full force of a new government initiative but this is not likely to continue

Article Abstract:

Inheritance tax liability is attached to estates of more than 223,000 pounds sterling. Radical reforms of IHT were expected in the first and second Labour Budgets, but they did not materialize. However there may be changes in the third Labour Budget, which could include the abolition of potentially exempt transfers (Pets), and a return to capital transfer tax. There could be a reduction in the threshold at which IHT is payable and and extension of he period for which a donor must survive a gift.

Forecasts and trends, Budget, Budgeting, Budgets

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Global planning

Article Abstract:

Companies need to adapt a global tax strategy to gain sizable tax reduction and savings. A tax minimization review should include the following aspects, namely, product flows, finance costs, capital structures and provision of services. Tax strategies need to be adapted to tax rules and policies on specific countries to avoid tax liabilities and penalties which would eventually result in effective tax rates and increased company earnings.

International aspects

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