Tagged: taxes

January 14, 2016 @ 2:42 pm By JD Alois  |  

Her Majesty’s Revenue and Customs (HMRC) department, the agency responsible for the collection of taxes, has published its current “position” on the requirement to deduct income tax on interest paid on peer to peer loans. According to HMRC, under existing tax rules in Chapter 3… Read More

December 14, 2015 @ 8:16 am By JD Alois  |  

UK based Xcordis has launched its Auto-Tax technology today to remove inefficiencies and reduce opportunities for graft and dodging. Their application is said to offer a full audit trail from collection to distribution and is designed to tackle a pressing problem in the developing world:… Read More

November 17, 2015 @ 7:39 am By JD Alois  |  

The EU’s VAT Committee has published its review of the liability to VAT of crowdfunding activities. The Committee stated that “where platforms provide services free of charge40 they remain outside the scope of application of the VAT Directive”.  But where services generate a fee, such… Read More

May 13, 2015 @ 2:23 am By Midori Yoshimura  |  

In Australia, startups recently received good news from Treasurer Joe Hockey: new tax incentives for startups, specifically around crowdfunding, also known as crowd-source equity funding (CSEF), notes Gizmodo Australia. The tax incentives are part of the new 2015-16 federal budget. Gizmodo notes, [AU] $7.8 million will be spent getting the… Read More

November 17, 2014 @ 11:59 pm By JD Alois  |  

Taxpayers Australia, a non-profit entity that promotes “fairer and more transparent taxation system for every Australian taxpayer” has published a cautionary note on individuals using crowdfunding and the potential tax liability that may be incurred. The advocacy group warns that the Tax Office has taken… Read More

October 6, 2014 @ 10:04 am By JD Alois  |  

The Australian Tax Office (ATO) has told the Aussie parliament that rewards based crowdfunding campaigns, like those listed on Pozible, Kickstarter and Indiegogo, may be required to pony up taxes on rewards purchased by campaign backers.  This is a question that has surfaced not only… Read More

March 31, 2014 @ 8:00 am By Georgia Quinn  |  

Fresh from my trip across the pond, I can tell you I have seen the light. Crowdfunding can and is working and we (the United States) are behind the eight ball on this one. When describing the US regulatory regime to crowdfunding professionals in the… Read More

March 20, 2014 @ 10:00 am By JD Alois  |  

The Seed Enterprise Investment Scheme (SEIS) was announced as becoming permanent yesterday as part of Chancellor of the Exchequer George Osborne’s budget presentation.    Introduced in 2012, the tax incentive for people to invest in early stage companies has been viewed as a groundbreaking approach… Read More

January 28, 2014 @ 5:05 pm By JD Alois  |  

Individual Savings Accounts (ISA) are a financial product available to residents of the United Kingdom.  These types of vehicles are used to supplement retirement incomes (somewhat similar to US 401k’s).  Apparently in a meeting held this week between Peer-toPeer (P2P) lenders, ISA industry participants and… Read More

October 31, 2013 @ 10:34 am By JD Alois  |  

Toronto accounting firm Advises taxpayers that the Canada Revenue Agency (CRA) considers crowdfunding proceeds to be taxable. Accounting firm Mark Feldstein and Associates has released a statement to Canadian tax payers that the CRA’s stance on crowdfunding will apply to a specific scenario where a person… Read More

October 21, 2013 @ 6:16 pm By JD Alois  |  

Launches Crowdfunding Campaign on InvestingZone Platform. Crowdstamp, a new ‘peer to peer’ lender, is attempting to carve out a niche in the crowdfunding space by offering market-leading, fixed Stamp Duty Land Tax loans that benefit both borrowers and lenders. Stamp Duty is the fastest rising… Read More

June 3, 2013 @ 7:02 am By MarketWatch  |  

The tax mysteries surrounding “crowdfunding” projects. You know you’ve really made it when you become a category on “Jeopardy!” On May 28th, the first Double Jeopardy! category was “If Early Investors Used Kickstarter.” What the heck is Kickstarter.com — and what’s all the fuss? This… Read More

April 18, 2013 @ 8:57 am By Cameron Keng  |  

On April 1st, 2013, Kickstarter released a “tax guide” for project creators that will lead thousands of creatives to fall under IRS tax audits as well as their contributors.  The tax guide started with the best intentions, but the execution is beyond wrong.  This is a WARNING… Read More

March 18, 2013 @ 1:00 am By Forbes  |  

It’s insane that the world is buying into the joke known as “Crowdfunding.”  Everyone and their mother is predicting that it’s the next miracle in the making.  But, let’s be honest with ourselves.  Crowdfunding is neither new, nor innovative.  Most importantly, it doesn’t make sense. There are two… Read More

March 1, 2013 @ 7:26 pm By Forbes  |  

Crowdfunding can be a relatively simple, quick way to raise capital to fund a new venture but what many startup entrepreneurs don’t know could hurt them. Many crowdfunding campaigns entail perks for those who invest money into projects. It could be copies of an album… Read More

January 31, 2013 @ 9:05 am By InvestmentNews  |  

Crowdfunding is forecast to grow in popularity this year, leading to an added demand for specialized tax advice. The latest evolution in “passing the hat,” crowdfunding portals allow people to help back a project or a burgeoning company by providing financial contributions on the web…. Read More

December 20, 2012 @ 7:59 am By LA Weekly  |  

Boy band Allstar Weekend are Poway’s answer to One Direction. The San Diego county-bred group got its start on the Disney Channel music competition Next Big Thing back in 2009. They took second place on that show, but the exposure helped the band ink a four-album deal… Read More