Christine Telford BSc (Hons), MSc, MRICS, AIEMA, IRRV (Hons) discusses how the financing of local government will change dramatically in 2013 and the implications for business rates assessment and collection.
Highlights of the Union Budget presented today.
Key factors to note are as follows:
· Fiscal deficit numbers (actual as well as projected) are quite heartening.
· There have been no major populist measures.
· There have not been any major reforms announced – GST date is still uncertain and DTC is scheduled for April 2012.
· Implicit in the lower projection of the subsidies is the hope that the prices of petroleum products and fertilizers may be partially decontrolled in the coming year.
There is no explicit assurance of the same though.
· Service tax maintained at 10% against the wide expectation of an increase. Excise duties not raised either.
· The implications for various sectors are summarized in the attached document.
Overall, the budget is quite incremental and not bold. Thankfully it is not populist either.
Hence on the balance the sentiment post budget amongst market participants has been mildly positive.
Our equity market outlook remains positive post the budget.
The Hon’ble Finance Minister presented the NDA Government’s first full-year budget before the lower house of the Parliament. With expectations rocketing sky high on the new Government and with the mandate the Government possesses, it has come up with earnest to unclog the process and put in place a strong foundation for the all new Indian Economy.
In the document attached, we have provided a glimpse of the tax proposals announced in the budget for your reference.
Highlights of the Union Budget presented today.
Key factors to note are as follows:
· Fiscal deficit numbers (actual as well as projected) are quite heartening.
· There have been no major populist measures.
· There have not been any major reforms announced – GST date is still uncertain and DTC is scheduled for April 2012.
· Implicit in the lower projection of the subsidies is the hope that the prices of petroleum products and fertilizers may be partially decontrolled in the coming year.
There is no explicit assurance of the same though.
· Service tax maintained at 10% against the wide expectation of an increase. Excise duties not raised either.
· The implications for various sectors are summarized in the attached document.
Overall, the budget is quite incremental and not bold. Thankfully it is not populist either.
Hence on the balance the sentiment post budget amongst market participants has been mildly positive.
Our equity market outlook remains positive post the budget.
The Hon’ble Finance Minister presented the NDA Government’s first full-year budget before the lower house of the Parliament. With expectations rocketing sky high on the new Government and with the mandate the Government possesses, it has come up with earnest to unclog the process and put in place a strong foundation for the all new Indian Economy.
In the document attached, we have provided a glimpse of the tax proposals announced in the budget for your reference.
Hello Friends ,
This slides contains
1) Service Tax Amendments Finance Act 2016
2) CENVAT Rules Amendments Fiance Act 2016
3) Case Laws-
a) No Service Tax on FLats where value of land is included.
b) No Service Tax Audit by Departmental Person
Impact of Goods and Services Tax (GST) to the Common Mantridentbull
The Goods and Services Tax (Amendment) Bill — officially known as, the Constitution (122nd Amendment) (GST) Bill, 2014 — is believed to be the biggest tax reform since independence. The Constitution Amendment Bill for Goods and Services Tax (GST) passed in the Rajya Sabha on 3 August 2016, which was approved by the Lok Sabha in May 2015.
i feel this presentation enriched with hyperlinks u can easily understand the basics of gst. and i feel the beginners must download this ppt for a better understanding of gst
Pausing at the threshold: Using arts based enquiry to promote reflective, appreciative learning on entering an 'identity workspace' / Dr Hazel Messenger
Hello Friends ,
This slides contains
1) Service Tax Amendments Finance Act 2016
2) CENVAT Rules Amendments Fiance Act 2016
3) Case Laws-
a) No Service Tax on FLats where value of land is included.
b) No Service Tax Audit by Departmental Person
Impact of Goods and Services Tax (GST) to the Common Mantridentbull
The Goods and Services Tax (Amendment) Bill — officially known as, the Constitution (122nd Amendment) (GST) Bill, 2014 — is believed to be the biggest tax reform since independence. The Constitution Amendment Bill for Goods and Services Tax (GST) passed in the Rajya Sabha on 3 August 2016, which was approved by the Lok Sabha in May 2015.
i feel this presentation enriched with hyperlinks u can easily understand the basics of gst. and i feel the beginners must download this ppt for a better understanding of gst
Pausing at the threshold: Using arts based enquiry to promote reflective, appreciative learning on entering an 'identity workspace' / Dr Hazel Messenger
Rollits Dispute Resolution Newsletter October 2016 Pat Coyle
Legal newsletter from Rollits LLP including a Sale of Goods update and definitive sentencing guidelines for H&S, corporate manslaughter and food safety
The Chancellor gave a combined Spending Review and Autumn Statement on 25 November 2015. He announced a number of measures that will affect businesses, individuals and the UK as a whole.
We have produced a 12 page Autumn Statement report which includes details of these, including sections on business initiatives, pensions, changes to personal allowances and more.
We all welcome the Union Budget 2016-17 and consider it reformist budget aimed at creating strong base for economic growth.
The budgetary proposals are built on transformative agenda standing on nine (9) pillars, which could be regarded as facilitators to the various programs of national importance (7 programs) like Start-up India, Digital India, Make in India, Smart India, Stand-up India, Skill India and Clean India.
Our summer newsletter's cover articles look at planning for the reduction in the dividend allowance and highlight that another tax rise will be with us soon. Check out these articles and lots more!
DIEM Ltd social media information bulletin 30 sep 13DIEM Ltd
After talking at the RICS World of Digital Communications event in Warrington, this bulletin gives a brief overview of the social media platforms discussed and links to them.
The Govenment is to repeal the Site Waste Management Regulations on 1 December 2013, this environmental bulletin gives a brief description of this repeal and the way forward for SWMP
DIEM Ltd healthcare waste container colour coding summaryDIEM Ltd
Briefing note on UK Department of Health recommendations for colour coding of sharps waste recepticles.
Please email info@diemltd.co.uk to request free pdf copy of this document.
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
500 acres of brilliance await you here at Riverview City which offers modern living, effortless convenience, and a beautiful natural setting. It is a mega township by Magarpatta City in Loni Kalbhor, Pune. Enjoy easy access to work, schools, and fun while experiencing a perfect work-life balance.
Visit - magarpattacity.developerprojects.in
Dynamics 365 Bid Management for Construction ProjectsDynamic Netsoft
This PDF provides a straightforward guide to using Dynamics 365 for efficient bid management in construction projects. Learn how to streamline processes, improve accuracy, and enhance productivity with practical tips and step-by-step instructions.
https://dnetsoft.com/dynamics-365-bid-management-software
Keep Your Home Naturally Cool and Warm Out Change in Seasons
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Recent Trends Fueling The Surge in Farmhouse Demand in IndiaFarmland Bazaar
Embarking on the journey to acquire a farmhouse for sale is just the beginning; the real investment lies in crafting an environment that contributes to our mental and physical well-being while satisfying the soul. At Farmlandbazaar.com, India’s leading online marketplace dedicated to farm land, farmhouses, and agricultural lands, we understand the importance of transforming a humble farmland into a warm and inviting sanctuary. Let's explore the fundamental aspects that can elevate your farmhouse into a tranquil haven.
Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szet...Volition Properties
=== Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szeto) ===
Ever been curious about Real Estate Investing in the US?? At Volition, for the past 14 years, we have been focused on helping investors invest in over $250M of real estate and generate $100M of wealth in the Toronto market, but we are always open to learning more about other business models and learning from other investors.
The US has always been an intriguing market to invest in. But the US is a big place… if you’re interested in investing in the US, you probably have a lot of questions, like:
☑️ Specifically WHERE should you invest?
☑️ What are the best markets to invest in and why?
☑️ How much are property prices there?
☑️ What are the returns like?
☑️ What is cashflow like?
☑️ Compared to investing in Toronto or other cities in Ontario, what are the benefits / tradeoffs?
☑️ What ownership structure should I use?
☑️ What are the tax implications?
☑️ Can I get financing?
☑️ What are tenants like?
Enter Erwin Szeto, a longtime friend of Volition. Since 2005, Erwin Szeto and his team have navigated the challenging landscape of being landlords in Ontario. Now, they are shifting their focus and guiding their clients' investments toward the more landlord-friendly environment of the USA. This decision comes after assisting Canadian clients in transacting over $440,000,000 in income properties. Faced with issues like affordability constraints, tenant-friendly laws, rent control, and rental licensing in Canada, Erwin sees a clear opportunity in the U.S. Here, there is a significant influx of investments leading to the creation of high-paying manufacturing jobs. Erwin and his clients are poised to capitalize on these opportunities where landlord rights are stronger and there is no rent control.
To facilitate this transition, Erwin has partnered with and become a client of SHARE, a one-stop-shop U.S. Asset Manager. Founded by Canadians for Canadians, SHARE enables as passive an ownership experience as possible for landlords in the U.S., while still maintaining direct, 100% ownership.
Erwin is “Making Real Estate Investing Great Again”!!
Website: https://www.infinitywealth.ca/
Facebook: https://www.facebook.com/iwinrealestate and https://www.facebook.com/ErwinSzetoOfficial
Podcast: https://www.truthaboutrealestateinvesting.ca/
Instagram: https://www.instagram.com/iwinrealestate/ and https://www.instagram.com/erwinszeto/
Omaxe Sports City Dwarka stands out as a premier residential and recreational destination, offering a blend of luxury and sports-centric living. Located in the thriving area of Dwarka, this project by Omaxe Limited is designed to cater to modern lifestyle needs while promoting a healthy, active living environment.
Revenue Keys- Begur Village Survey-Sketchrevenuekeys
Find Land Survey Number View A Begur village Begur Hobli Bangalore The Revenue Department of Karnataka By The Survey Sketch Made Citizen Simple Easy to Find Survey Number,s
Total Environment Tangled Up In The Green - Residential Plots Where Nature an...JagadishKR1
Embark on a journey where lush landscapes and contemporary living converge at Total Environment's Tangled Up In The Green Residential Plots in Devanahalli, Bangalore. Surrounded by verdant expanses, these plots offer an idyllic setting for your dream home. Immerse yourself in the serenity of nature while enjoying the finest amenities and design, where every moment is a harmonious blend of luxury and tranquility.
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus o...Joseph Lewis Aguirre
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus on Public Safety as Job #1, Engagement, Wealth of HOA, Branding, Communication, Culture, Civic Responsibility
The KA Housing - Catalogue - Listing TurkeyListing Turkey
Welcome to KA Housing, a distinguished real estate development nestled in the heart of Eyüpsultan, one of Istanbul’s most promising districts.
Just 10 minutes from the bustling city center, Eyüpsultan offers a serene escape with the convenience of urban living. The direct metro line ensures seamless connectivity to all parts of Istanbul, making it an ideal location for residents who seek both tranquility and vibrancy.
KA Housing boasts unparalleled accessibility, with proximity to Istanbul Airport only 30 minutes away, facilitating easy international travel. Effortless city access is guaranteed by direct metro and transportation links to Istanbul’s cultural and commercial hubs. Quick access to key metro lines connects you to every corner of the city within minutes, making commuting and exploring the city hassle-free.
The development offers luxurious living spaces with a range of unit layouts from 1+1 to 4+1, designed with meticulous attention to detail. Each unit features balconies or terraces, providing stunning vistas of Istanbul and enhancing the living experience. High-quality materials and superior craftsmanship ensure durability and elegance, while sound-proof insulation and high ceilings (2.95 m) offer comfort and sophistication.
Residents of KA Housing enjoy exclusive on-site amenities, including a state-of-the-art gym, outdoor swimming pool, yoga area, and walking paths. Entertainment options abound with a private cinema, children’s playground, and a variety of dining options including a café and restaurant. Security and convenience are paramount with 24/7 security, a dedicated carpark garage, and an IP intercom system.
KA Housing represents a prime investment opportunity with limited availability in a high-demand area, ensuring enduring value and potential for lucrative returns. Homes in this development provide exceptional value without compromising on quality, offering affordable luxury for discerning buyers. The construction is of the highest quality, built to the latest seismic and disaster resistance standards, ensuring safety and resilience.
The community and surroundings of KA Housing are enriched by close proximity to prestigious universities such as Haliç University, Bilgi University, and Istanbul Ticaret University, making it an ideal location for students and academics. The development is adjacent to the Alibeyköy stream leading into the Halic waters, offering serene natural escapes amidst lush greenery. Residents can enjoy the cultural richness of the area, surrounded by historical and cultural landmarks that blend leisure, nature, and culture seamlessly.
https://listingturkey.com/property/the-ka-housing/
Serviced Apartment Ho Chi Minh For RentalGVRenting
GVRenting is the leading rental real estate company in Vietnam. We help you to find a serviced apartment for rent in Ho Chi Minh & Saigon. Discover our broad range of rental properties in Vietnam.
For more details https://gvrenting.com/
Sense Levent Kagithane Catalog - Listing TurkeyListing Turkey
Sense Levent offers a luxurious living experience in the heart of Istanbul’s vibrant Levent district.
This cutting-edge development seamlessly integrates modern design with natural elements, featuring live evergreen plants maintained by an advanced irrigation system, ensuring lush greenery year-round.
The building’s elegant ceramic balconies are both stylish and durable, enhancing the overall aesthetic and functionality. Residents can enjoy the 700m Sky Lounge, which provides breathtaking views of Istanbul and a perfect space to relax and unwind.
Sense Levent promotes a healthy and active lifestyle with a full gym, swimming pool, sauna, and steam room, all available in the building. The interiors are crafted with high-quality materials, ensuring a luxurious and inviting living space.
Designed with young professionals in mind, Sense Levent features 1+1 and 2+1 units with smart floor plans and balconies. The project promises high investment returns, with an expected annual return of 6.5-7%, significantly above Istanbul’s average ROI.
Located in the rapidly growing and highly desirable Levent area, the development benefits from ongoing urban regeneration projects. Its prime location offers proximity to shopping malls, municipal buildings, universities, and public transportation, adding immense value to your investment.
Early investors can take advantage of discounted units during the construction phase, with an expected capital appreciation of +45% USD upon completion. Property Turkey provides comprehensive rental management services, ensuring a seamless and profitable investment experience.
Additionally, robust legal support and significant tax advantages are available through Property Turkey’s licensed Real Estate Investment Fund. Levent is a dynamic urban hub, ideal for young professionals with its numerous corporate headquarters and shopping malls.
Sense Levent is more than just a residence; it’s a place where dreams and opportunities come to life. Contact us today to secure your place in this exclusive development and experience the best of Istanbul living. Sense Levent: Sense the Opportunity. Live the Dream.
https://listingturkey.com/property/sense-levent/
Rams Garden Bahcelievler - Istanbul - ListingTurkeyListing Turkey
Implemented by Rams Global in Bahcelievler, the Rams Garden Bahcelievler Apartments includes 796 residences of different types from 2+1 to 5+1.
Next to the project, which will have 33 thousand square meters of green area, there will be 42 thousand 300 square meters of woodland. There will also be a 210-meter-long pond in the landscape of the project. There are 94.5 square meters of green space per flat.
Rams Garden Bahcelievler Apartments, which has 8 times more green space than the average of Istanbul with its 33 thousand square meters of green area located within a total of 75 thousand square meters, offers various housing options from 2+1 to 5+1.RAMS Garden has brought a lifeline to the construction industry.
Rams Global, which has signed projects in many places from Dubai to Phuket and delivered more than 20 thousand residences, is now starting new projects in Istanbul.
Rams Garden Bahcelievler is located 9 minutes from Metroport AVM, 5 minutes from Marmara Forum AVM, 12 minutes from Kazlıçeşme beach, 9 minutes from Yıldız Technical University, 7 minutes from Istinye University, 9 minutes from Ramada Hotel and Medicana Hospital.
https://listingturkey.com/property/rams-garden-bahcelievler-apartments/
Rams Garden Bahcelievler - Istanbul - ListingTurkey
2013 Business rates update
1. March 2013
Business Rates and Local Government Finance
On 1st April 2013 the financing of local government will change dramatically and it is anticipated this
will have implications for business rates assessment and collection. Billing authorities will no longer
be just collection agencies for the Government but will retain 50% (varies slightly depending on
whether unitary or county etc) of the income that they collect, known as the Business Rates
Retention Scheme. They are responsible for preparing budgets and essentially the “books will be
balanced” at the end of the year. The Government anticipates that councils will collect £21.8bn in
2013-2014 known as the Estimated Business Rates Aggregate.
No longer will Councils be getting immediate refunds for Section 45 and Section 44A reliefs from
central government. The councils that we have spoken to will be publishing new guidance on vacant
rates as at 1st April 2013 and it seems there will be much greater scrutiny as 44A and Section 45
reliefs will come out of their annual budgets. So it is essential to ensure that there are no
outstanding premises for which applications can be made in this current financial year as it is
understood there may be restrictions on the dates of application. (At present supposed to be made
in current financial year, ie not retrospectively, but we are all aware that on occasions applications
have not been made until much later but it seems this practice will no longer be acceptable).
There is, in addition to the above, a new provision; Section 69 which amends section 47 of the Local
Government Finance Act 1988 to replace the limited circumstances in which local authorities can
currently give discretionary relief with a power to give relief in any circumstances. This is subject to
the condition that except in the limited circumstances specified the local authority may only grant
relief if it would be reasonable to do so having regard to the interests of council tax payers in its
area”. There are also a few qualifying issues around the granting of relief under Section 47 of the
LGFA and changes in time limits.
All in all the Councils will have closer involvement in identifying hereditaments and will be keen to
identify new or under assessed properties as they get to keep more of the money.
Multipliers now confirmed for the year of 2013 to 2014 as follows non-domestic rating multiplier
47.1p (0.471) - small business non-domestic rating multiplier 46.2p (0.462).
New Buildings Vacant Rate Relief The Government is introducing a new temporary measure for
unoccupied new builds from October 2013. Unoccupied new builds will be exempt from unoccupied
property rates for up to 18 months (up to state aid limits) where the property comes on to the list
between 1 October 2013 and 30 September 2016. The 18 month period includes the initial 3 or 6
month exemption and so properties may, if unoccupied, be exempt from non domestic rates for up
to an extra 15 or 12 months.
Small Business Rates Relief – to be continued at current levels until 31/3/2014
Lower multiplier to be used for all properties under £18,000 RV
100% exemption for premises less than £6,000 RV (subject to use of one property and/or any other
properties less than £2,600 RV).
2. Sliding scale of relief from 50% to 100% between £6,000 and £12,000
NB At present many billing authorities do not check this and the small business relief is automatically
granted. Due to greater scrutiny it may be that premises which fall into this category are identified
as being occupied by parties who may not fulfil the above criteria, so there is a need to check your
property portfolio and accrue accordingly if this may apply to you.
Transitional Relief - this ensures there are no sharp increases or decreases in liability following a
revaluation as in April 2010, so transition caps increases or decreases in liability relative to the bills
issued for 2009-2010. Most properties are now out of transition. See increase for large properties
for this year to 25% and downwards to 13%. This will no longer be an issue for most properties and
will not arise again until the next revaluation presently projected to be in 2017.
Rate Increase Limits Rate Decrease Limits
Year Small Large Year Small Large
Property Property Property Property
2010-2011 5% 12.5% 2010-2011 20% 4.6%
2011-2012 7.5% 17.5% 2011-2012 30% 6.7%
2012-2013 10% 20% 2012-2013 35% 7%
2013-2014 15% 25% 2013-2014 55% 13%
2014-2015 15% 25% 2014-2015 55% 13%
Empty Premises – no changes to Vacant Rate Relief – 3 months commercial buildings, industrial and
mineral 6 months. Ongoing relief subject to application on land and plant and land. All empty
premises are billed on the higher multiplier irrespective of RV
The Leading Vacant Rate Relief case at the moment is Oystons Angels v Preston Council re Section
45A(2)(b) of the Local Government Finance Act 1988 which reads “it appears that when next in use
the hereditament will be wholly or mainly used for charitable purposes (whether of that charity or
that and other charities)”.
The case concerns 6 empty units in a mill in Preston. The owners of Oyston Mill are Denwis Ltd.,
who on 30 March 2011 entered into a licence agreement (for all the units with a rateable value in
excess of £2,600) with Oyston Angel to give them the right to occupy for charitable purposes only, or
to “sublet” for charitable services. Oyston Angel agreed to be responsible for all rates, if any.
All the relevant units were unoccupied for some time (over six months), although one unit was later
sub-licensed to Methodist Action Northwest Ltd as a charity shop.
Preston City Council issued empty rate demands to the Trust for 2011–12 rates on eight of the units,
and subsequently applied to Preston Magistrates’ Court for liability orders. The magistrates found
that although the Trust did not intend to occupy the units, they were satisfied that on the basis of
the restriction on any sub-licenses, that when re-occupied each unit would be wholly or mainly used
for charitable purposes. On that basis, the magistrates considered that the units should be zero
rated, and refused the liability orders.
The council appealed to the High Court, on the basis that the zero rating only applies if it appears to
the council that when next occupied, the property will be occupied by that charity for charitable
purposes (of that or that and other charities). Thus the issue concerned the proper construction of
section 45A(2)(b) of the Local Government Finance Act 1988, The High Court took the view that in
the absence of the words “by that charity” in section 45A(2)(b), zero rating is not limited to where
the next occupier would be the currently owning charity. The Judge stated that the sub-section
means “used for the charitable objects of the owning charity, accompanied or not by other charitable
purposes”.
3. Hence to be zero rated, it must appear that when next occupied, the hereditament will be occupied
by any charity for the charitable purposes of the owning charity, or the owning charity and others.
Business Rates Supplements
The Localism Act clarifies further the means and process for the ballots for establishing the Business
Rate Supplement in an area.
Enterprise Zones
If you are starting up or relocating to an enterprise zone you will qualify for relief. You must start up
by April 2015. You can get up to 100% business rate relief for 5 years up to maximum of £275,000.
The enterprise zones are:
• Black Country i54 and Darlaston
• Cornwall and Isles of Scilly Newquay Aerohub
• D2N2 (Derby, Derbyshire, Nottingham and Nottinghamshire)
• Greater Birmingham and Solihull City Centre
• Greater Cambridge and Greater Peterborough Alconbury Airfield
• Greater Manchester Airport
• Humber Estuary Renewable Energy Super Cluster and Green Port Corridor
• Humber Green Port Corridor
• Lancashire
• Leeds Lower Aire Valley
• Leicester and Leicestershire Mira Technology Park
• Liverpool Daresbury Science Campus
• Liverpool Mersey Waters
• London Royal Docks
• New Anglia Great Yarmouth and Lowestoft
• North Eastern River Tyne and Nissan Site
• Oxfordshire Science Vale UK
• Sheffield Modern Manufacturing and Technology Growth Area
• Solent Daedalus Airfield
• South East Midlands Northampton Waterside
• South East Sandwich and Harlow
• Tees Valley
• The Marches Hereford
• West of England Temple Quarter (Bristol)
Other related issues
Abolition of Home Information Packs
This Act has finally repealed all the laws on Home Information packs with the exception of Energy
Performance Certificates
Christine Telford BSc (Hons), MSc, MRICS, AIEMA, IRRV (Hons)
5.3.2013