PAG | Positive Action Group - Isle of Man | Positive Action Group - Isle of Man

CGT - Conspiracy of Silence?

Tuesday, 13 March 2012 16:39 PAG

"Please look at the whole picture, not just a small piece of the jigsaw" implored Treasury Minister Teare at the end of his 2012 Budget speech.

Well there's one piece that just doesn't fit in and we make no apology for returning to it, following our article 25.02.12 :"TAX: Bye, Bye ARI - Hello CGT?".

We focused on confusion created with the abolition of the ARI and a replacement measure on tax distributions introduced via a Treasury Practice Note 174/12. The Note seemed to open the door for a potential Capital Gains Tax on company assets.

Time for a written Constitution?

Monday, 27 February 2012 13:34 PAG

PAG has made a written submission to a Joint Committee which is considering the constitutional principles raised by The Electoral Reform Bill 2011.

As well as calling for LegCo to be popularly elected (which is in the PAG Charter) the Bill makes two main proposals.

First, that the Island should be divided into eight constituencies; and second, that each constituency should return three MHKs and one MLC.

Tax Cap Criticism

Saturday, 25 February 2012 15:35 WRT

Treasury spent £75k In 2006 and £75k in 2007 to attend Conferences in Geneva for 'High Net Worth Advisers'. In 2008 £80k was spent on 'Wealth Man Conferences'.

It's no surprise then that Chief Minister Bell continues to try and justify his tax cap policy, to convince us it's working.

The Budget and Mr Bell

Wednesday, 22 February 2012 12:38 EALISH

Chief Minister Alan Bell 'got carried away' (his own words) in Tywnald's Budget debate.

We have long been aware that, like Peter Mandelson, he is 'frightfully relaxed about people being filthy rich'.

But unlike Peter he doesn't like to use the 'r-' word.

Usually he prefers to clink the odd coinage 'individuals of high net worth.'

(This could be taken to imply a superior morality in such folk.

And such a usage is of course less likely to stir the resentment of those of us who aren't well off.)

PAG Submission - Electoral Reform Bill 2011

Monday, 27 February 2012 13:49 PAG

PDF copy attached:

Attachments:
File	File size	Downloads
PAG Submission - Electoral reform Bill 2011	60 Kb	417

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TAX: Bye, Bye ARI - Hello CGT?

Friday, 24 February 2012 15:14 PAG

Tax Cartoon The Attribution Regime (ARI) for Individuals will be abolished with effect from 6th April 2012. The ARI ensured that Isle of Man resident shareholders did not roll up profits in an Isle of Man company tax free.

The abolition of the ARI means that Isle of Man resident shareholders of Isle of Man companies may be able to roll up profits tax free in a company until such time as a distribution is made. The use of a company structure with the ability to roll up profits tax free for Island residents would appear to be a very attractive proposition, but perhaps unfair to the majority of taxpayers unable so to do.

In Praise of Kerbside Collection !

Friday, 27 January 2012 16:05 wilfred tomlinson

Kerbside collection van In his Budget speech (27.01.12) Leader of Douglas Borough Council, David Christian wholeheartedly backed the joint kerbside collection scheme developed with Braddan Commissioners.

Have the ratepayers of Onchan lost out by the decision to withdraw from the scheme we wonder?

"Green issues have remained to the fore with the Council’s decision to continue operating the kerbside collection service, funding it jointly with Braddan Commissioners from 1st November last year until 31st March this year, after three years’ funding by the Department of Infrastructure ceased on 31st October 2011.

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Last Updated on Wednesday, 22 February 2012 13:13

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