You are currently browsing the Capital Comments weblog archives for the day 25. June 2009.
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Archive for 25. June 2009
IRS Steps Up Scrutiny of Offshore Funds
25. June 2009 by Dan Walkow, CFA, CMT.
The Internal Revenue Service is demanding that hedge-fund and private-equity investors disclose hundreds of billions of dollars they have invested offshore, boosting scrutiny of accounts popular for tax advantages.
The move comes as regulators and lawmakers are seeking to crack down on questionable use of offshore tax havens and could uncover sources of income that aren’t being taxed but should be.
Probably time to find a good tax attorney if you stashed the cash. For more.
Posted in Taxation | No Comments »
If the Numbers Look Bad - Change the Way You Calculate the Numbers
25. June 2009 by Dan Walkow, CFA, CMT.
Charts courtesy of dshort.com (Click to Enlarge)
As a result of very high inflation numbers emanating from the 1970’s governments were faced with a very big problem. Union settlements forced adjustments to include a “COLA” adjustment to pensions and benefits and tax brackets. This beget a significant increase in employer and government liabilities as they had to “pay up” every year to account for inflation.
Not good. How do you fix the problem? Why you change the way the inflation index is calculated introducing something called “hedonistic delflators”. The Consumer Price Index has been fiddled twice over the last 20 years.
Headline inflation is about zero as reported in recent days according to current day calculations.
What would the rate be if they left the CPI calculation alone? Click the chart above to find out.
You will not be surprised, but if you are a senior with indexed benefits, you are not going to be happy!
Posted in Inflation | No Comments »
Alberta to offer natural gas ‘incentives’
25. June 2009 by Dan Walkow, CFA, CMT.
Nothing like a little bear market in natural gas stocks to get the Alberta Government to reverse course on it’s tax grab on gas production in Alberta.
Less than a year ago Alberta raised royalties on natural gas production placing it as one of the highest natural gas tax jurisdictions in North America. Alberta natural gas stocks got priced down accordingly.
Oh but now the world has changed according to Alberta Premier ED Stelmach, he is going to offer an “incentive package” to ravaged gas producers. Oh boy talk about wrong way Eddie.
There is a ton of natural gas around but my thought is that Alberta will not let it’s gas industry wither away to nothing. Selected beaten down gas stocks may be due for a pop.
See the Globe and Mail article here.
Posted in Energy | No Comments »