Online networks are reportedly 'gamifying' violence and encouraging self-harm, targeting children in games like Roblox and Minecraft, with cases globally. Meanwhile, Iran declares 'full-scale war' with the US, and Andy Burnham becomes the UK's new prime minister, pledging to end rough sleeping.
A new leftwing manifesto from the Australian Manufacturing Workers' Union (AMWU) proposes significant tax reforms, including a new rate for high earners, wealth and inheritance taxes, and increased revenue from gas companies. These proposals aim to fund free education, higher welfare payments, and nationalised aged care, setting a progressive backdrop for the Labor party's national conference in Adelaide.
A legal challenge over the vulnerable northern brown argus has delayed a forestry plan at Todrig, where investor Gresham House wants to plant commercial trees. The case highlights rising demand for woodland as a tax-efficient asset for wealthy families.
HMRC is facing criticism for significant delays in processing tax rebates and payments, leaving individuals like an 86-year-old father waiting months for substantial sums. Despite HMRC's claims of efficiency, multiple cases highlight long waits, financial hardship, and errors.
Australia's budget proposes a 30% minimum tax on new discretionary trusts, exempting deceased estates and existing testamentary trusts. While critics label it a 'death tax,' experts argue it targets tax minimization, not inheritance value, though it may increase taxes on intergenerational wealth transfer.
Fraudsters exploit confusion or anxiety over new IHT rules by offering a ‘safe haven’ for savings potsThe caller pitches a great deal. Shift the moneysaved in your pension and reinvest it in a scheme overseas where you can avoid it being caught under next year’s changes to the UK’s inheritance tax (IHT) system.From April next year, any money left in a defined contribution pension after your death, which is most workplace and all private pensions, will be pulled into the IHT net. Continue reading...
The Lee family has completed payment of a 12 trillion won (£6bn; $8bn) inheritance tax bill, the largest such settlement in South Korean history. Chairman Lee Jae-yong and family members paid in six installments over five years following the death of late chairman Lee Kun-hee in October 2020.
Samsung heirs are completing the final installment of their 12 trillion won (US$8.1 billion) inheritance tax this month, wrapping up five years of payments. The Lee family's combined wealth has climbed to US$45.5 billion as of March from roughly US$20.1 billion a year earlier, driven by an AI-driven upswing in semiconductor valuations. They are now Asia's third-richest family, up from 10th last year, cementing their control over Samsung.
