Cap St Georges Hotel & Resort awarded Green Key certificate
Cap St Georges Hotel & Resort has achieved the Green Key certification, reflecting their dedication to environmental sustainability and eco-friendly hospitality practices.
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Federal Budget | Global tax
The foreign resident capital gains tax regime will be tightened by broadening the types of assets subject to CGT, implementing a 365-day testing period for the principal asset test, and requiring foreign residents to notify the ATO before disposing of shares exceeding million in value. These amendments aim to clarify which assets are subject to CGT and prevent tax avoidance by foreign residents. The changes will apply to CGT events starting from 1 July 2025, with no grandfathering for existing assets.
Global trade disruptions and their impact on tax and trade
Fact: The disruptions in global trade routes, such as those at the Suez Canal and Panama Canal, have significant tax implications for multinational corporations, affecting transfer pricing, profit attribution, intangible property, withholding taxes, and customs duties.
UK residents told to boil their water after parasite detection
Residents in Alston and Hillhead areas of Brixham, Devon have been advised to boil their drinking water due to the detection of cryptosporidium parasite, causing diarrhoeal illness. South West Water is working with UKHSA to identify the contamination source and establish bottled water stations. Cryptosporidiosis can be serious for those with weak immune systems and is contracted from contaminated water sources or human and animal contact. Health officials urge affected residents to follow the advisory, seek medical help for severe symptoms, and avoid close contact with others.
Opinion | A muddled mess of a solution to SF’s tax crisis
The political class in San Francisco has reached a consensus on a proposal to reform the city’s tax code. The proposal includes small tax cuts for large corporations, no taxes for small businesses, and aims to reduce reliance on a few big corporations to fund the city. However, the proposal is seen as incremental and not radical enough by some, with concerns about the temporary nature of the cuts, the risk of concentration among top taxpayers, and the retention of anti-business measures like the Overpaid Executive Gross Receipts Tax. Additionally, the proposal will need to be voted on by citizens in November, adding complexity to the process.
Georgian parliament passes ‘foreign agent’ bill amid protests
Georgia’s parliament passed a “foreign agents” bill in its final reading, which now goes to President Salome Zourabichvili for approval. The bill requires organizations receiving over 20% of their funding from abroad to register as foreign agents. Critics have compared the bill to Russian legislation and have called for further protests. The European Union has warned that the bill could hinder Georgia’s integration with the bloc. Despite opposition, the ruling party in Georgia insists that the bill is necessary for transparency and to combat foreign influence.
Cost-benefits of electricity cable expected by end of month
Fact: The first results of the cost-benefit study for the Greece-Cyprus Great Sea Interconnector electricity project are anticipated to be unveiled by the end of May.
MPs furious over last-minute changes to local government
Lawmakers are frustrated with the government for making last-minute changes to legislation related to the reform of local government. They have agreed to only two amendments for now, with the rest to be discussed after the local government elections on June 9. The changes include allowing District Self-Governance Organisations to approve their own budgets and the appointment of individuals to head local government services temporarily. Permit applications for land development will be transferred to the new District Self-Governance Organisations. Legislators refused to fast-track a bill suspending permit applications, citing potential negative impact on the economy. The new system will merge various local government authorities at the district level to streamline processes.
One day we flood, the next day we burn
Two major wildfires have already occurred in Cyprus, one due to mishandling of explosives and the other for unknown reasons. Despite the country’s vulnerability to wildfires due to its dry climate, efforts to acquire aerial firefighting assets have been unsuccessful. Assistance from neighbouring countries, such as Jordan, has been requested during emergencies. The lack of proper firefighting resources has resulted in devastating consequences, with firefighters losing their lives and significant areas of land being burned. The country faces a state of neglect and lack of progress in crucial projects.
A sale contract tailor-made for the vendor
Fact: Buyers should be cautious when purchasing an immovable property, especially an apartment without an individual title, as it may lead to future legal disputes and risks.