wealthymatters

Avoiding Inheritance Tax

January 16, 2013 2 Comments

wealthymatters As the wealthy in India take precautions against the reintroduction of inheritance tax,two methods are proving popular to avoid this much-feared tax.

One is to transfer assets to investment firms owned by heirs.

Another is to set up trusts in which the heirs become beneficiaries.

Since the inheritance tax or estate duty is a tax on the transfer of wealth after a person’s death, no duty is attracted if the assets are transferred to entities or vehicles that are not persons.

Filed under Paper Assets, Tool Kit Tagged with avoiding death duties, avoiding death tax, avoiding estate duties, avoiding inheritance tax, beneficiaries of a trust, investment firms, postaday, Tax shelters, trusts

Inheritance Tax Across The Globe

January 16, 2013 2 Comments

Wealthymatters

China has no estate duty.

Filed under Tidbits Tagged with inheritance tax, inheritance tax in Germany, inheritance tax in Japan, inheritance tax in UK, inheritance tax in USA, inheritance tax rates, no inheritance tax in China, postaday, threshold limits for inheritance tax

Billionaires Whose Net-Worth Rose The Most in 2012

January 15, 2013 2 Comments

Filed under Tidbits Tagged with Amancio Ortega, Bernard Arnault, carlos Slim, Charles Koch, postaday, Prince Alwaleed, wealthymatters

Hubby Allowance

January 15, 2013 2 Comments

wealthymatters

On the left is a poster that is apparently causing a storm in China that is spreading worldwide.Wish I could read it.If you read Chinese could you confirm I have the right poster and translate it for the rest of us?

According to this poster,Xinyan and Wenhao are a newly-wed couple, and their dream is to buy a new house.And they are struggling to save up the down payment. So they decided to let the wife Xinyan manage their finances. To do so, Wenhao will keep only 1000 yuan per month for himself, and give the remaining major portion his salary to his wife. It’s very inconvenient if he does this every month.So the China Merchants Bank (CMB) offers a service called “limited gathering” which is time and energy efficient to solve their problem. With this service, the bank will check Wenhao, the man’s account everyday. Once there are more than 1000 yuan, the bank will transfer the extra part to Xinyan’s account. In addition, the bank does not charge a commission fee for inter-bank transfers.And according to the poster”Ever since they started using CMB’s capital accumulation service, Xinyan and Wenhao have got on with each other even better and lived in happiness.” Read more of this post

Filed under Tidbits Tagged with capital accumulation service, China Merchants Bank (CMB), domestic finance, household finance management, household finances, hubby allowance, limited gathering, marital finances, postaday, women manging household finances, Xinyan and Wenhao

Jallikattu – Blood Money

January 15, 2013 7 Comments

wealthymatters Jallikattu is bull-baiting or bull fighting sport played in Tamil Nadu as a part of Pongal celebrations, usually on Mattu Pongal day. Jallikattu events are held from January to July, every year. The first event is held in Palamedu village near Madurai on January 15 followed by the world-famous Alanganallur Jallikattu in Alanganallur village ,also near Madurai on 16 January

Jallikattu is one of the oldest living ancient sports seen in the modern era.It is derived from an ancient Tamil tradition called , popular amongst warriors during the Sangam Age.In those days the game was used by women to choose their husbands from amongst the successful “matadors”. Read more of this post