Braxton Advisors http://www.braxton-sqn.com Independent Adviser Resources Sun, 05 May 2013 19:14:23 +0000 es-ES hourly 1 https://wordpress.org/?v=4.7.6 Accept and Abandon Terms in Legal Asia Encyclopedia http://www.braxton-sqn.com/accept-and-abandon-terms-in-legal-asia-encyclopedia/ Sun, 05 May 2013 18:20:52 +0000 http://www.braxton-sqn.com/?p=296 Read more... ]]> Asia Encyclopedia of Law:
  1. Admit accept, acknowledge, acquiesce, affirm, agree, assent, concedere, concur, confess, confirm, declare, disclose, divulge, enlighten, expose, fateri, grant, recognize, relate, reveal, unmask, unveil, Associated Concepts: admit fault, admit in a reply, admit in an answer, admit liability, admit to probate,(Give access), verbadeundi copiam, admittere, allow entrance, create an opening, give right of entry to, inaugurate, induct, initiate, install, institute, invest, open a passage, ……
  2. Acknowledge affirm, ascribe, assert, asseverate, attest to, avow, bear witness, certify, depone, depose, disclose, endorse, express, implicate oneself, state, swear,(Respond), verbaccede, agree, answer, be responsive, concur, ratify, rejoin, remark, reply, signify assent,(Verify), verbadmit, admit a right, admit the charge, concede, confess, confirm, defer to, recognize, recognize authority of, testify, yield, Associated Concepts: acknowledge a document, acknowledge the signatures on a will, ……
  3. Accede accept, accord, acknowledge, acquiesce, admit, agree to, approve, assent, back down, capitulate, comply, concur, conform, consent, deign, give assent, give in, grant, obey, permit, submit, subscribe to, succumb, surrender, vouchsafe, yield, yield assent,(Succeed), verbassume, attain, become heir to, come after, come next, displace, follow in order, inherit, reach, replace, supersede, supplant, ……
  4. Adopt ad sententiam, admit, adoptare, affiliate, annex, appropriate, arrogate, assimilate, assume, attach oneself to, avail oneself of, borrow, choose, coopt, conform to, constituere, denizenize, elect, embrace, endenizen, espouse, exercise one&, 39;s option, follow, foster, imitate, make one&, 39;s own, naturalize, raise, seize, select, select as one&, 39;s own, take, take on, take possession of, take up, try

Asia Encyclopedia of Law:

  1. Quit abdicate, abjure, abort, acknowledge defeat, admit defeat, apostatize, arrest, back out, become inactive, break off, bring to an end, call a halt, capitulate, cause a stoppage, cause to halt, cease, cease progress, cease to use, cease work, check, come to a standstill, cut out, desist from, drop, finish, forgo, forsake, forswear, give up, go into retirement, go out of business, halt, have done with, intermit, lay aside, leave off, leave unfinished, make an end of, nolpros, ……
  2. Leave break, commeatus, departure, freedom from duty, furlough, holiday, inactivity, interlude, intermission, interval of rest, leisure, liberty, nonappearance, nonattendance, parting, pause, recess, recreation time, relaxation, removal, repose, respite, rest, retirement, retreat, suspension of work, vacation Associated Concepts: leave of absence, sick leave,(Allow to remain), verbcease, deposit, desist, discard, disuse, drop, forbear, forget, give up, let be, let continue, ……
  3. Forgo abjure, abnegate, abstain from, avoid, bypass, cast aside, cast off, cease, decline, desist from, dimittere, discard, discontinue, dismiss, dispense with, dispose of, do without, eliminate, eschew, forbear, forsake, forswear, give up, give up claim to, give up the right to, keep aloof from, keep away from, keep from, lay aside, leave, let pass, omit, part with, pass, quit, refrain from, refuse, reject, relinquish, ……
  4. Forswear abhor, abjure, abnegate, avoid, break off, cast aside, cast away, cast off, decline, deny, desert, disaccustom, discard, disclaim, discontinue, discountenance, disdain, dispense with, divest oneself, do without, drop, eschew, forego, forsake, give up, lay aside, leave, let alone, omit, part with, proscribe, quit, refrain from, refuse, reject, relinquish, renounce, repel, repudiate, ……
  5. Renounce abdicate, abhor, abjure, abnegate, banish, break with, cast aside, cast off, cease, decline, demit, deny, deprive oneself, desert, desist from, despise, detest, disagree, disapprove, disavow, discard, disclaim, discountenance, disdain, dismiss, disown, dissent, divorce oneself from, drop, eliminate, exclude, forbear, forbid, forgo, forsake, forswear, give away, give up, give up claim to, ……
  6. Retire demit, drop out, give notice, give up office, give up work, leave, quit, relinquish, resign, stand aside, take leave, tender one&, 39;s, resignation, vacate,(Retreat), verbabandon, abire, concedere, decamp, depart, discharge, fall back, go back, leave, part, recede, recedere, remove, retrocede, seclude oneself, separate oneself, shelve, take leave, turn in, vacate, withdraw, ……
  7. Relinquish abdicate, abjure, cast off, cease, cede, deliver, demit, desert, disclaim, discontinue, dismiss, do without, drop, eliminate, forgo, forsake, forswear, give over, give up, give up claim to, go without, hand over, jettison, lay aside, leave, let go, part with, pull out, quit, reject, release, relinquere, renounce, resign, rid, sacrifice, secede from, sign away, spare, ……
  8. Cast ballot, commit oneself, deposit formally, effect, establish, exercise one&, 39;s choice, exercise one&, 39;s options, give a vote, go to the polls, hold up one&, 39;s hand, make a choice, make a decision, make a selection, make an entry, make one&, 39;s choice, make one&, 39;s selection, mark down, place on record, poll, put down, put on record, record, register one&, 39;s vote, select, tabulate, vote, Associated Concepts: votes cast,(Throw), verbbestrew, catapult, conicere, disseminate, distribute, eject, ……
  9. Yield accrue, afford, bear, bestow, bring, bring about, bring forth, bring in, fetch, furnish, generate, give, provide, render, return, supply,(Submit), verbabandon, abdicate, accede, accept, acquiesce, admit, agree to, allow, assent, back down, be submissive, bend, bow, capitulate, cede, comply, concede, conce&, 39;dere, consent, dedere, forgo, give in
]]>
Legal Access Resources http://www.braxton-sqn.com/legal-access-resources/ Sun, 05 May 2013 18:03:53 +0000 http://www.braxton-sqn.com/?p=289 Read more... ]]> About Access to the Law

  1. Free Access to Law Movement ContentsFree Access to Law MovementConclusionNotesSee AlsoAbout the Author/s and Rewiever/sReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries Free Access to Law Movement The Free Access to Law Movement is a collective of legal projects from various countries that aim to provide free online access to legal information such as case law and […]…
  2. Detained without access to legal counsel ContentsDetained without access to legal counsel ConclusionNotesSee AlsoAbout the Author/s and Rewiever/sReferences and Further ReadingAbout the Author/s and Reviewer/s Detained without access to legal counsel The continuing debate over individuals detained by the federal government without access to legal counsel because they are suspected of terrorist activities brings to mind other earlier sad moments in […]…
  3. Statute Book The “statute book”, in some countries like New Zealand, is the existing body of law set out in Acts of Parliament. ContentsConclusionNotesSee AlsoReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries Conclusion Notes See Also References and Further Reading About the Author/s and Reviewer/s Author: international ….. . . . Mentioned in these […]…
  4. Index volume of the 1931 NZ Reprint ContentsIndex volume of the 1931 New Zealand ReprintNotesSee AlsoConclusionNotesSee AlsoReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries Index volume of the 1931 New Zealand Reprint The most comprehensive index of Acts ever compiled in New Zealand was the one prepared as part of the 1931 reprint of legislation.(1) Volume 9 of the reprint includes […]…
  5. List of New Zealand Reports ContentsList of New Zealand ReportsSee AlsoConclusionNotesReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries List of New Zealand Reports NZ Awards — Awards, Recommendations, Agreements NZGLR — Gazette Law Reports NZLR — New Zealand Law Reports NZ Ords — Ordinances of the Legislative Council of New Zealand NZPCC as — New Zealand Privy […]…
  6. Pitcairn Law ContentsPitcairn lawConclusionNotesSee AlsoAbout the Author/s and Rewiever/sReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries Pitcairn law The Agreement between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of New Zealand concerning Trials under Pitcairn Law in New Zealand and Related Matters was signed by the […]…
  7. United States Style Codes ContentsUnited States Style CodesThe Statutory Codes of Common law CountriesThe type of code found in the United StatesRevision and Codification NotesSee AlsoConclusionNotesSee AlsoReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries United States Style Codes A code (in the United States style code) is a compilation of all the Acts of a jurisdiction, […]…
  8. Index to Subject Matter of Victorian Legislation ContentsIndex to Subject Matter of Victorian Legislation (Australia)See AlsoConclusionNotesSee AlsoReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries Index to Subject Matter of Victorian Legislation (Australia) The Index to the Subject Matter of Victorian Legislation is a general subject guide to Victorian Acts and Statutory Rules that has been published annually since 1999. (1) The […]…
  9. Curnin’s Index ContentsCurnin’s IndexCurnin’s index (1877-1933)Final edition of Curnin’s Index (1933)NotesSee AlsoConclusionNotesSee AlsoReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries Curnin’s Index Curnin’s index (1877-1933) John Curnin was the Clerk of the New Zealand legislative Council from 1861 to 1865, and was a law draftsman from 1877. He held the office, then non-statutory, of New […]…
  10. Pure Consolidation ContentsPure ConsolidationConclusionNotesSee AlsoReferences and Further ReadingAbout the Author/s and Reviewer/s Pure Consolidation A “pure” consolidation does not change the law, but simply re-enacts the body of legislation in a more accessible form, bringing together law on the same topic that was previously contained in other legislation, and enabling redrafting and reorganisation of a specific legislation (like an […]…
  11. Henry Smythies’ Analytical Digest ContentsHenry Smythies’ analytical digestNotesSee AlsoConclusionReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries Henry Smythies’ analytical digest (1863) In 1863, an Auckland (New Zealand) lawyer, Henry Smythies, compiled An Analytical Digest of the Laws of New Zealand. the digest describes in outline form the laws of New Zealand in force in 1862, comprised […]…
  12. Unidroit Convention on Agency in the International Sale of Goods 2 Contents Unidroit Convention on Agency in the International Sale of Goods ConclusionNotesSee AlsoAbout the Author/s and Rewiever/sReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries Unidroit Convention on Agency in the International Sale of Goods   Article 13 (1) Where the agent acts on behalf of a principal within the scope of his […].
]]>
Witness and Will in the Legal Encyclopedia http://www.braxton-sqn.com/witness-and-will-in-the-legal-encyclopedia/ Fri, 05 Apr 2013 19:02:17 +0000 http://www.braxton-sqn.com/?p=299 Read more... ]]>
  • Hostile Witness (12.6) See Witness…
  • Evidence (5.3) All the legal means, exclusive of mere argument, which tend to prove or disprove any matter of fact, the truth of which is ‘submitted to judicial investigation (Taylor)(1) Oral. ” Statements made by witnesses in Court under a legal sanction ” (Stephen)(2) Documentary. ” Documents produced for the inspection of the Judge ” (Stephen)(3) Conclusive. ” Evidence of a fact which the Court must take as full proof of such fact and which excludes all evidence to disprove it ” (Stephen)(4) Direct. Evidence of a fact actually in issue ; evidence of…
  • King’s Evidence (4) A prisoner who, instead of being put upon trial, is permitted by the Crown to give evidence against those associated with him in crime, is said to turn king’s evidence…
  • Will (4) A disposition or declaration by which the person making it (the testator) provides for the distribution or administration of property after his death. It is always revocable by him.Formerly “will” signified a testamentary disposition of land, aa opposed to a testament (q.v.). Infants and lunatics are incapable of making wills. A woman married after December 31, 1882, has complete testamentary power with regard to all her property. No particular form of words is required to make a valid will so long as the testator’s intention can be ascertained ; otherwise its provisions…
  • European Reference:

    1. Publication (5.6) Prior to the Wills Act, 1837, a ivill luad to be published, i. e., declared by the testator, in the presence of witnesses, to be his will : abolished by the Wills Act, 1837.For the purposes of the Copyright Act, 1911, publication in relation to any work means the issue of copies of the work to the public.In any action of libel or slander the plaintiff must show that the defamatory words were actually published, that is to say, brought to the knowledge of some person other than the plaintiff. In criminal…
    2. Testator (4.8) One who makes a will…
    3. Lapse (4.6) As a general rule, when a person to whom property has been devised or bequeathed dies before the testator, the devise or bequest fails or lapses, and the property falls into residue. But if land is given to a person in tail who dies before the testator, leaving issue capable of taking under the entail, the land goes as if the devisee had died immediately after the testator. (Wills Act, 1837, s. 32.) And if a testator bequeaths (or devises) property to a child or other descendant of himself, and such descendant…
    4. Non Quod Voluit Testator, Sed Quod Dixit In Testamento Inspicitur (4.5) Not what the testator wished, but what he said, is considered in 1 construing a will…
    5. Cancellation (4.2) The drawing of lines across an instrument with the purpose of depriving it of effectCancellation of a will does not revoke it, unless it is accompanied by a declaration executed by the testator in the manner in which wills are required to be executed.
    ]]>
    Witnegamon and Widow in the Legal Dictionary http://www.braxton-sqn.com/witnegamon-and-widow-in-the-legal-dictionary/ Tue, 05 Mar 2013 19:05:06 +0000 http://www.braxton-sqn.com/?p=302 Read more... ]]> Legal Terms and Definitions:
    1. Widow A woman whose husband is dead. 17 £/.S. C.§101 provides: The author’s widow or widower is the author’s surviving spouse under the law of the author’s domicile at the time of his or her death, whether or not the spouse has later remarried. …
    2. Widow’s Quarantine “See “”Quarantine.”” ” ……
    3. Witekden A taxation of the West Saxons, imposed by the public council of the kingdom. ……
    4. Withdrawal Of A Juror “At the trial of an action, when neither party wishes to proceed further, they may, by consent, withdraw a juror ; and as that leaves the jury incomplete, there can be no verdict, and the trial comes to an end”…..

      Legal Terms and Definitions:

      1. Widower A man whose wife is dead. …
      2. Widowhood It applies to the condition of a widower as well as that of a widow. …
      3. Winding Up In relation to corporations, the term denotes the cessation of its business, the collecting in and realization of all its assets, the payment of all its liabilities and the distribution of the surplus among the shareholders. It may be either voluntary as where the corporation itself proceeds to wind up…
      4. With A preposition denoting a relation of proximity, continguity or association
    ]]>
    Salvador Trinxet Books http://www.braxton-sqn.com/salvador-trinxet-books/ Sat, 09 Feb 2013 19:13:06 +0000 http://www.braxton-sqn.com/?p=305 Read more... ]]> Salvador Trinxet Llorca series and books ]]> Wikipedia More Popular Legal Pages http://www.braxton-sqn.com/wikipedia-more-popular-legal-pages/ Sat, 05 May 2012 18:07:47 +0000 http://www.braxton-sqn.com/?p=293 Read more... ]]> Related Entries of the Legal Encyclopedia:
    1. 100 Top country pages in Wikipedia in may 2012 Contents100 most visited country pages in Wikipedia in may 2012ConclusionNotesSee AlsoAbout the Author/s and Rewiever/sReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries 100 most visited country pages in Wikipedia in may 2012 See also: 250 Top law pages in Wikipedia in may 2012 500 Top law pages in Wikipedia in may 2012 […]…
    2. Top law pages in Wikipedia in may 2012 by importance ContentsTop law pages in Wikipedia in may 2012 by importance and most popularConclusionNotesSee AlsoAbout the Author/s and Rewiever/sReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries Top law pages in Wikipedia in may 2012 by importance and most popular See also: 250 Top law pages in Wikipedia in may 2012 500 Top law […]…
    3. Mid law pages in Wikipedia in may 2012 by importance ContentsMid law pages in Wikipedia in may 2012 by importance and most popularConclusionNotesSee AlsoAbout the Author/s and Rewiever/sReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries Mid law pages in Wikipedia in may 2012 by importance and most popular See also: 250 Top law pages in Wikipedia in may 2012 500 Top law […]…
    4. 250 Top law pages in Wikipedia in may 2012 Contents250 Most popular law pages in Wikipedia in may 2012ConclusionNotesSee AlsoAbout the Author/s and Rewiever/sReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries 250 Most popular law pages in Wikipedia in may 2012 See also: 500 Top law pages in Wikipedia in may 2012 1000 Top law pages in Wikipedia in may 2012 […]…
    5. 500 Top law pages in Wikipedia in may 2012 Contents500 Most popular law pages in Wikipedia in may 2012ConclusionNotesSee AlsoAbout the Author/s and Rewiever/sReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries 500 Most popular law pages in Wikipedia in may 2012 See also: 250 Top law pages in Wikipedia in may 2012 1000 Top law pages in Wikipedia in may 2012 […]…
    6. 1000 Top law pages in Wikipedia in may 2012 Contents1000 Most popular law pages in Wikipedia in may 2012ConclusionNotesSee AlsoAbout the Author/s and Rewiever/sReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries 1000 Most popular law pages in Wikipedia in may 2012 See also: 500 Top law pages in Wikipedia in may 2012 250 Top law pages in Wikipedia in may 2012 […]…
    7. 1500 Top law pages in Wikipedia in may 2012 Contents1500 Most popular law pages in Wikipedia in may 2012ConclusionNotesSee AlsoAbout the Author/s and Rewiever/sReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries 1500 Most popular law pages in Wikipedia in may 2012 See also: 250 Top law pages in Wikipedia in may 2012 500 Top law pages in Wikipedia in may 2012 […]…
    8. Most referenced articles in Wikipedia about broad legal issues ContentsMost referenced articles in Wikipedia about broad legal issuesMost referenced articles in Wikipedia about broad legal issuesConclusionNotesSee AlsoAbout the Author/s and Rewiever/sReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries Most referenced articles in Wikipedia about broad legal issues See also: 250 Top law pages in Wikipedia in may 2012 500 Top law […]…
    9. Wikipedia in the Courtroom ContentsWikipedia in the CourtroomReliable or Unreliable?Citation of WikipediaWikipedia is not like a DictionaryPatents: not longer a source of informationOther SourcesSee AlsoFurther ReadingConclusionNotesReferences and Further ReadingAbout the Author/s and Reviewer/s Wikipedia in the Courtroom Is Wikipedia a reference in the courtroom? Most judges probably would never cite to a Wikipedia article in a court document, and […]…
    10. Wikipedia and copyrights ContentsWikipedia and copyrightsConflict of interest in WikipediaDeletionistsConclusionNotesSee AlsoAbout the Author/s and Rewiever/sReferences and Further ReadingAbout the Author/s and Reviewer/s Wikipedia and copyrights We may define “anarchic production” as production without copyrights or other property rights, and Wikipedia was offered to the class as proof of this analytic proposition. Notwithstanding its lack of property rights, Wikipedia […]…
    11. Foreign Country Search Engine listing ContentsForeign country Search Engine listingArgentinaAustralia & New ZealandBelgiumBrazilCanadaChileColumbiaCosta RicaCzech RepublicDenmarkEcuadorEl SalvadorFinlandFranceGermanyGuatemalaHondurasHungaryIndiaIsraelItalyJapanKenyaKoreaMexicoNetherlandsNorthern EuropeNorwayPanamaParaguayPeruPolandPortugalSouth AfricaSpainSwedenSwitzerlandUnited KingdomUruguayVenezuelaConclusionNotesSee AlsoAbout the Author/s and Rewiever/sReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries Foreign country Search Engine listing Since search engine companies rely on Webmasters to take the trouble to submit information about their sites, researchers looking for foreign […]…
    12. Agreements country resources ContentsAgreements country ResourcesConclusionNotesSee AlsoAbout the Author/s and Rewiever/sReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries Agreements country Resources Argentina List, by country , of bilateral agreements. Australian Treaties Library Bolivia List of bilateral and multilateral agreements (click on Archivo > Instrumentos). Canada Treaty Information Searchable list of bilateral and multilateral Treaties
    ]]>
    Braxton networking http://www.braxton-sqn.com/braxton-networking/ Fri, 07 Oct 2011 08:26:15 +0000 http://www.braxton-sqn.com/?p=269 Read more... ]]> Braxton Group (www.braxton-group.com) is expanding its distribution network. We are looking to establish operations in several regional centres and are currently seeking Managing Directors to establish and run the business.

    The new businesses will market international tax and law services to intermediaries and final clients.

    The Braxton Group is renowned for supplying innovative international services designed to meet the needs of international companies, professional firms and their clients. We have 15 years experience in international distribution.

    We are actively looking for business partners with established networks or contacts to assist us in entering new markets internationally. Additionally, all candidates will need to have:

    1. A strong services background
    2. Excellent interpersonal skills
    3. Good negotiating skills
    4. Experience of working with intermediaries / final clients
    5. Exemplary presentation skills
    6. Professional commitment to service, training and support
    7. Past sales success and a strong on-going desire to succeed

    Please send us your CV with a short description of your network of contacts to legal (ad) braxton-co.com.

    ]]>
    South African Budget Emphasizes Growth http://www.braxton-sqn.com/south-african-budget-emphasizes-growth/ Sun, 15 May 2011 15:28:37 +0000 http://www.braxton-sqn.com/?p=253 Read more... ]]> South African Budget Emphasizes Growth

    South Africa’s 2011 budget, presented on February 23 by the Minister of Finance Pravin Gordhan, is saying that effectiveness of the government’s spending and tax policies and the measure of South Africa’s economic progress, will be primarily seen through its target of creating 5m new jobs in the next ten years.

    It was commented that the 2009 recession widely reduced the income available for public expenditure, with nominal tax revenues declining in 2009/10. Tax Revenues have improved in 2010/11, with recent information suggesting a strong recovery in customs duties and VAT tax. The recovery in corporate income tax revenue is, however, lagging behind.

    Tax revenues are now expected to track modest real economic growth over the medium term. Economic growth is, in fact, estimated at 3.4% for 2011, increasing to 4.4% by 2013; while South Africa’s projected budget deficit is 5.3% for 2010/11, declining to 4.8% in 2012/13 and 3.8% in 2013/14.

    During the government proposes spending ZAR150bn (USD21bn) over three years as it tries to make a start on its job creation target, the 2011/12 budget tax proposals are intended to broaden the tax base in support of the same objective. Businesses are going to receive tax breaks to foster skills development and job creation, particularly for young workers.

    An on-going review of the turnover tax for micro businesses, which was implemented in 2009 to simplify tax and broaden the tax base for micro businesses with annual turnover up to ZAR1m. From March 1, 2011, a micro business will only turn to be able to pay turnover tax if its turnover exceeds ZAR150,000 (currently ZAR100,000) a year. In addition, from March 1, 2012, micro businesses that register for VAT tax will no longer be barred from registering for turnover tax.

    Regardind to personal income taxes, the 2011 budget proposes direct tax relief to individuals of ZAR8.1bn through adjustments into tax brackets and rebates. Those adjustments are aimed at compensating for the effects of inflation.

    What is more various loopholes are going to be closed (and, in particular, certain dividend schemes), and a new dividends tax will be implemented from April 1, 2012, to replace the secondary tax on companies, it is offered to extend the learnership tax incentive for five years, after its current expiry in September 2011, and a youth employment subsidy in the form of a tax credit costing ZAR5bn over three years will be introduced.

    In a resume of 2011/12 income tax brackets, rates and rebates for individuals, taxpayers with an annual taxable income of up to ZAR270,000 is going to receive 50% of the proposed tax relief; while those with an annual taxable income between ZAR270,000 and ZARR580,000 receive a further 33%.

    Tax equity will also be improved by reforming the tax treatment of contributions to medical schemes, which will be re-classified as contributions to retirement funds and tax credits. From March 1, 2012, an employer’s contribution to pension funds on behalf of an employee, which is not currently taxed, will be deemed a taxable fringe benefit in the hands of the employee. Individuals will be allowed to deduct up to 22.5% of their taxable income for such contributions, up to an annual maximum of ZAR200,000.

    Excise duties on tobacco and alcohol will be increased, the maximum ad valorem excise tax on passenger cars and light commercial vehicles is to rise from 20% to 25%. The government also proposes to increase the general fuel levy on both diesel and petrol. With regard to the environment, the government has confirmed that it is still considering a carbon tax. The design features of the proposed tax and a schedule for its introduction are to be announced in the 2012 budget.

    Within miscellaneous measures, from October 1, 2011, the air passenger departure tax on flights to Southern African Customs. International destinations and Union member states will increase from ZAR80 and ZAR150 per passenger respectively to ZAR100 and ZAR190 per passenger; and the government proposes that, with effect from April 1, 2012, all gambling winnings above ZAR25,000 will be subject to a final 15% withholding tax.

    ]]>
    Japan economy needs Tax Reform http://www.braxton-sqn.com/japan-economy-needs-tax-reform/ Thu, 28 Apr 2011 15:28:36 +0000 http://www.braxton-sqn.com/?p=252 Read more... ]]> Japan economy needs Tax Reform

    The credit rating agency, Moody’s Investors Service, placed Japan’s Aa2 long-term rating on negative outlook, from stable, advising that it could be reduced in the future if the government will not make its tax reform programme through the country’s parliament.

    Moody’s has pointed out that the achievement of tax reform is going to require government stability, which appears to be progressively more and more lesslike to happen as the political problems of Naoto Kan, Japan’s Prime Minister, appear to increase.

    Japan Prime Minister’s programme, to be introduced by the end of June, revolves around when  and by how much, the government have to make a move to increase the country’s 5% consumption finance and tax the increasing pensions and costs of social security in Japan. Nevertheless, to be approved, it is going to need the support of opposition parties, after the government lost its majority in the parliamentary upper house last year.

    In addition to this problems within his own Liberal Democratic Party, which itself remains divided on reforms, Kan has been unable to obtain any softening in the attitude of the parliamentary opposition parties who, while refusing to join in any talks on tax reform, are also saying they will now oppose budgetary bills, that need to be approved by the end of March, including one allowing the government to issue further long-term bonds to finance the deficit.

    However Moody’s has, at least, kept Japan’s current rating, which is still one notch above that of Standard & Poor’s (S&P) that cut its rating by one notch to AA- last month, also c\pointing on concerns. S&P had then commented that it was concerned that the Japanese government did not have a “coherent strategy” to resolve the country’s debt problems, and doubted that the problem would be resolved by the current internal debate on reform.

    To reinforce that opinion, Moody’s has added that, if the government will nor get an approval for reform to solve the twin problems of the increasingly high levels of Japan’s deficit and public debt, any future pressure on Japan’s ratings is bound to be downwards.

    Although Japan’s Prime Minister is still showing his determination to press ahead with his reform programme, there has been debate of an early election to break the political deadlock. What is more, if an election does not take place, there has also been some concern that any  policies that could finally be agreed may be watered-down, and may not be considered sufficient to correct Japan’s problems in the future.

    ]]>
    Investment Funds and Adviser Registration http://www.braxton-sqn.com/investment-funds-and-adviser-registration/ Tue, 12 Apr 2011 18:25:53 +0000 http://www.braxton-sqn.com/?p=261 Read more... ]]> Dodd Frank Act in its Title IV related to Investment Funds and Adviser Registration covers a vast array of financial activity from retail to institutional with domestic and extra-territorial consequences and makes major changes to the registration of private fund managers and eliminates the availability of the registration exemptions by foreign hedge funds and private equity funds.

    The old exemption from registration for advisers with fewer than 15 US investors is eliminated as of July 21, 2011 and is replaced by new exemptions that are limited and therefore not terribly useful.

    Consequences of this are to file a SEC registration to passport across the US and avoid the tremendous burden to undertake a review of the securities law on a state by state basis.

    Advisers’ registration with the SEC implies the filing of Form ADV to disclose detailed information regarding the adviser’s business.

    Registered advisers will face many obligations including compliance procedures, code of ethics, conflicts of interest disclosure, compliance officer designation, extensive books and records maintenance requirements…

    Registered investment advisers will be required also to report once a year through the filing of Form PF thus providing significant amounts of detail regarding the private funds they advise – compliance date for filing may be as earlier as 12/15/2011.

    Although seemingly in contradiction with Dodd Frank, Foreign Account Tax Compliance Act, FATCA is an over-reaching peace of legislation on tax avoidance that will trigger all financial intermediaries to enter agreement with US tax authorities and enforce tax information reporting and withholding for US persons investing via/in non-US entities.

    Investments funds and Collective Investment Schemes are in the scope; therefore mutual/hedge/private equity/FoFs/ETF/managed accounts are all concerned by FATCA with some exclusion that would need to be reviewed and monitored on an ongoing base.

    Custody, fund administration, private banking and transfer agency functions are all impacted by FATCA and it is therefore paramount to understand the different duties of FATCA and how they will need to be address on the value chain of your organisation.

    Braxton has financial regulation expertise in cross-border provision of asset management services and is able to offer help on the consequences of these provisions to non-US investment advisers and all financial intermediaries and fund structures.

    ]]>