Obama delivers on promise to close down offshore tax havens.

The US Government plans to step up criminal prosecutions of tax cheats hiding money in offshore accounts which is estimated to cost the US Government more than $100Billion in lost revenue.

The US IRS is preparing to pursue other foreign banks for allegedly facilitating tax evasion by wealthy Americans following its high-profile case against Switzerland’s UBS bank.

A Bill has been introduced to the US Senate- the Stop Tax Haven Abuse Bill - to deter the use of offshore secrecy jurisdictions for tax evasion.

Australia welcomes greater transparency and information exchange agreements.

The Australian Government is planning to roll out a number of information agreements with other governments in an effort to reel in the burgeoning taxation avoidance industry.

Australia has ongoing strategies in place to address tax avoidance and evasion. These include a comprehensive tax information exchange agreement negotiation program to establish effective exchange of information with low-tax jurisdictions, for both civil and criminal tax purposes.

Tax exempt status for foreign employment income–No More.

A number of significant changes to the Australian Tax rules were made in this year’s Federal Budget. Some received little or scant reporting but will no doubt have a real impact on a small number of Australians.

Under existing tax rules, there is a general exemption from Australian tax for income earned overseas in foreign employment that lasts for at least 91 consecutive days.

Temporary Residents Superannuation Benefits Diminish as Withholding Taxes increase.

If you are a temporary Australian resident making Superannuation contributions while you are in Australia you need to re-think your strategies.

Among the recent changes to Superannuation in the 2009 Australian Federal Budget was a sting for temporary residents.

The new provisions largely remove any incentive for temporary residents to make superannuation contributions while they are working here.

Check out our brand new website.

We have just launched our brand new website.
You will find it a much more graphically appealing site,
but also, it is now packed with even more information. Simple succinct videos from CEO Kelvin Boyd clearly explain what Global Pensions is all about. The new site
is very user friendly with a simple intuitive navigation
and will be updated regularly with critical and crucial information.

Keep up to date with all the latest news and information.

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