The government approved some temporary tax relief to owners of property damaged in the quake-struck north Tuesday, as the premier promised swift help for small-scale businesses in the region — one of Italy's more productive.
There’s a new deadline this year for Iowa business owners with real property. Iowa business owners have a January 15, 2014 deadline to apply for the business property tax credit enacted in this year’s legislative session.
After a two-year transitional period, the 2012 Finance Bill will finally be implemented on 1 April 2014. For any individual or business that owns commercial property, this date is vital: from that moment on, unless unclaimed capital allowances relief is identified and crystallised at the point at which commercial properties are bought or sold, it will be lost forever.
What are capital allowances?
Capital allowances are a form of tax relief available to commercial property owners and many leaseholders on items bought for use within the business. They apply to expenditure on things such as plant and machinery, some office equipment, fixtures and fittings and integral features. Capital allowances are often inaccurately assessed and processed by accountants, meaning that the majority of businesses are missing out on significant tax benefits.
What are the benefits of claiming capital allowances?
They will also be in the minority because more than 90% of UK commercial property owners completely fail to capitalise on their unclaimed capital allowances each year.
The tax concession could be worth 25% of the HMV’s reported price tag of £50m
Each outlet within HMV’s 220-store portfolio would be eligible for tax relief of between £280,000 and £350,000 on average. HMV’s flagship store on Oxford Street alone may contain claimable items estimated at £1.92m.
It’s been four years since the European sovereign debt crisis broke out, yet troubles on the continent continue to hover like a dark cloud over markets. The Financial Post sat down with Jens Larsen, chief European economist and managing director for RBC Capital Markets, to talk about what’s in store for Europe this year.
Q We saw a successful Spanish bond auction on Thursday, and 10-year yields slipped below 5%. Are investors gaining more confidence in Spain and Italy?
In yet another attempt to pressure prime minister Silvio Berlusconi into promised reforms ECB debates ending Italy bond buys.The European Central Bank often discusses the possibility ending the purchase of Italian government bonds if it concludes Italy is not adopting promised reforms, ECB Governing Council Member Yves Mersch said.
A 6.4 magnitude quake struck southern Taiwan on Thursday, with an epicentre 35 kilometres (22 miles) deep, the US Geological Survey said. No tsunami warning was immediately issued.The quake, which hit about 30 kilometres from the southeastern coastal town of Taitung, was felt as far away as the capital Taipei in the north of the island.Taiwan is regularly hit by earthquakes as the island lies near the junction of two tectonic plates. A 7.6-magnitude quake killed around 2,400 people in September 1999.