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Who pays the capital gains tax on the sale of a home in an irrevocable trust? Because the irrevocable trust is not a natural person, it is typically not allowed to use the $250,000 exemption.
62% (This consists of 40% income tax on the GBP 100k–125k band, an effective 20% due to the phase-out of the personal allowance, and 2% employee National Insurance). The marginal rate then drops to 47% for income above GBP 125k (45% income tax plus 2% employee National Insurance) [ 241 ] [ 242 ]
The capital gains tax rate for long-term assets is 0%, 15%, 20%, 25% or 28%. You only pay capital gains tax if you sell an asset for more than you spent to acquire it.
Individuals paid capital gains tax at their highest marginal rate of income tax (0%, 10%, 20% or 40% in the tax year 2007/8) but from 6 April 1998 were able to claim a taper relief which reduced the amount of a gain that is subject to capital gains tax (thus reducing the effective rate of tax) depending on whether the asset is a "business asset ...
The Securities Industry Act 1995 (SIA, 1995) [2] is the act by which the Trinidad and Tobago Securities and Exchange Commission was established. In December 2012, the SIA 1995 was repealed and replaced by the Securities Act (SA 2012) [3] “an Act to provide protection to investors from unfair, improper or fraudulent practices; foster fair and efficient securities markets and confidence in the ...
The Trinidad and Tobago Unit Trust Corporation (UTC) is a mutual fund company based in Port of Spain, Trinidad and Tobago. Founded in 1981 through an Act of Parliament, the company describes itself as "the leading mutual fund company in the Caribbean". [1] The UTC dominates the mutual fund market in Trinidad and Tobago. [2]
The head of the ministry is the Minister of Finance and is appointed by the President of Trinidad and Tobago on the advice of the Prime Minister. The incumbent, Mr. Colm Imbert, assumed office on September 11, 2015, and succeeded Mr. Larry Howai following the Trinidad and Tobago general election, 2015.
The Central Bank of Trinidad and Tobago was established by an Act of Parliament on December 12, 1964. In particular, the Bank's main responsibilities are to issue and redeem currency; maintain monetary and financial stability; act as banker to the government as well as the commercial banks and protect the external value of the Trinidad and ...