• Wed, January 15, 2025

by: Newsroom

Taxing charities' business income would have 'devastating' impact on communities

According to IRD, in order to successfully register with Charities Services a company's purpose must be fully charitable, defined as relieving poverty, advancing education or religion, or anything else that benefits the community. None of the charity's income can be used or made available to any of its members, trustees or associates.

by: Investopedia

Wondering if a College Degree Pays Off? See How It Affects Lifetime Income

Getting a college degree can increase your chances of having a higher lifetime income. Learn how a college degree can help you reach your financial goals.

by: Forbes

Why Digitization Will Transform The Small Business Economy Under Trump

President-elect Donald Trump at the Palm Beach Convention Center on November 06, 2024. (Photo by ... [+] Chip Somodevilla/) . Whenever a new president is i

by: Reuters

Citi cuts return targets to spend more on regulatory fixes, plans $20 billion in buybacks

Citigroup swung to a profit in the fourth quarter, fueled by strength in trading and a recovery in dealmaking that drove up investment banking fees.

by: YourTango

People Who Master These 10 Challenges Almost Always End Up In Jobs They Love

Success factors in your next career phase are determined by your commitment to focus on communicating, networking, lifelong learning, and flexibility. Reimagine your career paths to be broader than just one field or role. Rather than being fixed and predictable from present circumstances and experience, be open to possibilities.

by: MSN

West Hartford shares economic development over the past year

West Hartford town officials shared an update on new businesses and housing projects during the annual economic development luncheon on Wednesday. The presentation was given to West Hartford Chamber of Commerce members at the Pond House Cafe.

by: Reuters

Wells Fargo raises interest income forecast as strong dealmaking drives profit beat

Wells Fargo's profit climbed in the fourth quarter, buoyed by stronger investment banking earnings, it said on Wednesday.

by: MSN

Stocks to Watch: Adani Green, HDFC AMC, Hindustan Zinc, Adani Energy, and IRFC

Here's a quick look at stocks likely to be in focus in today's trade. HDFC AMC: HDFC Asset Management Company's (AMC's) net profit surged 31.4 percent to 641.4 crore in the thir

by: Forbes

The Future Of Finance: 2025 Is Calling

Get ready for a year of bold innovation, green initiatives and game-changing customer solutions that will redefine how we bank, invest and grow wealth.

by: MSN

Capricorn Daily Horoscope Today (Dec 22-Jan 19), January 16, 2025: Joy and happiness will prevail!

Capricorn Money Horoscope Today You will focus on maintaining commercial organization. Avoid risky situations in business, and maintain balance in transactions. Capricorn Career Horoscope Today Move forward with harmony and be patient with your career and business.

by: Reuters

JPMorgan earns biggest-ever annual profit as investment bankers ride rebound

JPMorgan Chase's annual profit rose to a record as its dealmakers and traders reaped a windfall from rebounding markets in the fourth quarter, it reported on Wednesday.

by: MSN

Bill Ackman Backs Former Hedge Funder Whitney Tilson For NYC Mayor: 'Can Help Save Us' (UPDATED)

This story has been updated to reflect that Bill Ackman's social media post in support of Whitney Tilson's candidacy for New York City mayor did not make a formal endorsement. Former hedge fund manager Whitney Tilson is running for mayor of New York City and he picked up a supporter in the form of Bill Ackman,

by: Reuters

BNY quarterly profit beats estimates on higher fee income boost; shares jump

BNY beat profit estimates for the fourth quarter on Wednesday as it earned higher investment services fees from its clients, sending its shares up 4.1% to $79.06 in premarket trading.

by: MSN

D-Wave System's CEO explains quantum computing, error correction, and how customers are using the tech today

Dr. Alan Baratz sits down with TheStreet to explain why Nvidia's CEO is "dead wrong" about quantum computing's future.

by: MSN

Ride the Bull Run: 4 Top Coins to Buy and Hold for the Future

As January 2025 kicks off, the cryptocurrency market is alive with innovation and opportunity. Monero is gaining traction as a leader in privacy-focused transactions, and AAVE is solidifying its position in the DeFi ecosystem.

by: MSN

Goldman Sachs profit hits over 3-year high as investment banking, trading fuel bumper quarter

By Saeed Azhar, Manya Saini and Noor Zainab Hussain NEW YORK (Reuters) -Goldman Sachs beat Wall Street estimates and earned its biggest quarterly profit in more than three years as its investment bankers brought in more deal fees,

by: MSN

Yum! Brands appoints Scott Mezvinsky as KFC Division CEO

Scott is one of Yum! Brands' most respected leaders, with more than 20 years of experience with the company in areas including operations, s

by: MSN

Economists explore ways to mitigate recession-induced job loss impacts

Getting laid off and being unemployed for a long stretch ranks right up there with divorce or a death in the family as one of life's most stressful events.
  • Thu, January 16, 2025

by: cnbctv18

Budget 2025 Expectations LIVE Updates: Key expectations ahead of Finance Minister Nirmala Sitharaman's February 1 presentation

Finance Minister Nirmala Sitharaman will present the Budget for the financial year 2025-26 on February 1. On the day of NDA 3.0's Budget announcement, BSE and NSE will also remain open for trading to ensure live trading coincides with the Budget announcement.

by: sinchew

HKPC "ForeSight 2025" Explores Economic Future and Champions Sustainable Development in Hong Kong

Experts explore new economic opportunities presented by New Productive Forces, with a focus on comprehensive support for businesses HONG KONG SAR - Media OutReach Newswire - 16 January 2025 - As 2025 unfolds,

by: NDTV

The Difference Between Interim Budget And Full Budget

Lok Sabha elections, Finance Minister Nirmala Sitharaman announced an interim budget in February to manage the government's immediate financial needs.

by: TechRadar

Identifying the evolving security threats to AI models

The new threats facing AI models and users. As the use of AI expands, so does the complexity of the threats it faces. Some of the most pressing threats involve trust in digital co

by: timesnownews

UPI Goes Global: NIPL and Magnati Bring QR-Based Payments to UAE Merchants

NPCI International Payments Limited (NIPL) has partnered with UAE-based Magnati to expand UPI-based QR merchant payments in the Middle East. This collaboration aims to enhance payment options for over 12 million Indian travelers annually,

by: AOL

Massive new Trump tariffs are looming. Here's how these import 'taxes' work and who pays for them

New tariffs are likely coming in Trump's second term. While companies owe these import taxes, consumers usually foot the bill.

by: Forbes

Investing In Women: A Strategic Imperative For Diverse And Profitable Venture Capital

Diversity in venture capital (VC) has emerged as a pressing issue, with the industry facing a stark underrepresentation of women and other diverse demographics among both investors and entrepreneurs. This lack of representation is not merely a matter of equity; it significantly impacts innovation and overall performance within the sector.

by: Kiplinger

Seven Tips to Land Your First Client as a Financial Adviser or Entrepreneur

Whether someone is a financial adviser, planner or financial business owner, being new to the industry comes with its own set of challenges — especially when it comes to finding that first client. While you may have the right credentials and the passion for helping others with their money,

by: Forbes

Made In America: 5 Strategies To Respond To Potential Tariffs

The easiest path—to continue with current offshore manufacturing and importing as is—will also be the costliest. President-elect Donald Trump made tariffs a cornerstone of his campaign. He has since doubled down, promising a 25% tariff on goods from Canada and Mexico, and a 10% raise (perhaps above the previously pledged 60%) on imports from China.

by: Kiplinger

Asset Protection for Affluent Retirees in 2025

Putting together a team of advisers to assist with insurance, taxes and other financial issues can help with security, growth and peace of mind.

by: Forbes

Five Web3 Trends To Watch In 2025: AI, DePINs, RWAs And Beyond

The Web3 ecosystem could be positioned for unprecedented growth in 2025, but success will require strategic planning, bold execution and relentless user focus.

by: Kiplinger

A Strategic Way to Address the Tax-Deferred Disconnect

What you don't know could cost you a small fortune. Here's how to make the most of a tax-deferred retirement account and possibly save your heirs a bunch on taxes.

by: Reuters

US consumer finance watchdog fines payments firm Block over Cash App operations

The Consumer Financial Protection Bureau (CFPB) on Thursday ordered payments firm Block to pay a penalty citing fraud and weak security protocols on its mobile payment service Cash App.

by: Reuters

Morgan Stanley's profit more than doubles on boost from dealmaking, stock sales

Morgan Stanley's profit more than doubled in the fourth quarter, fueled by a wave of dealmaking and stock sales that drove its revenue to a full-year record.

by: Reuters

PNC Financial's profit rises on interest income growth, lower rainy-day funds

PNC Financial on Thursday reported a higher fourth-quarter profit as it earned more in interest payments and set aside less capital to cover potential loan defaults.

by: Reuters

EV maker Polestar's full-year car sales miss forecast

Polestar said on Thursday it sold fewer-than-expected cars and the Swedish EV maker's CEO added that it will take longer for the company to be profitable.

by: Reuters

Morning Bid: Inflation relief and bumper bank earnings

Global unemployment remained steady last year at an historical low of 5%, where it is set to stay in 2025, the International Labour Organization said in a report on Thursday.

by: MSN

Warren demands clarity for big business exemptions to Trump's tariffs

One economic unknown is whether President-elect Trump's tariffs will cover all imported goods, as previously threatened. But Sen. Elizabeth Warren (D-Mass.) wants to know the opposite: which companies will get exemptions and how that will be determined,

by: Reuters

Bank of America profit rises on investment banking boost

Bank of America reported higher profit on Thursday as its investment bankers capitalized on resurgence in dealmaking in the fourth quarter.

by: Reuters

M&T Bank fourth-quarter profit jumps 41% on higher fee income

M&T Bank on Thursday reported a 41% rise in fourth-quarter profit, as it earned more in fees from institutional services and the wealth management business after markets soared on interest rate cuts and U.

by: MSN

From Loss to Recovery: Small business owner fights back after $50,000 bank imposter scam

From Loss to Recovery: Small business owner fights back after $50,000 bank imposter scam

by: MSN

Polestar Automotive expects positive adjusted EBITDA in 2025

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) swung lower in early trading after the electric vehicle maker reported Q3 results and updated on its profitability expectations. Revenue fell 10% in Q3 on a restated basis and adjusted EBITDA was -$181 million.

by: Reuters

Bank CEOs expect Trump bump to business as profits surge

Wall Street CEOs voiced confidence on Wednesday that the incoming U.S. administration would be business-friendly and good for banks as they reported a profits surge after dealmaking and trading picked up.

by: MSN

Dimon Sees Red Flags for Markets in a Healthy Economy. Here's Why and 5 Other Things to Know Today.

Signs point to a Fed pause on rate cutting, TSMC profit jumps amid strong AI chip demand, and more news to start your day.

by: Reuters

Indian central bank's daily liquidity infusion to aid money markets, traders say

Reserve Bank of India's plan to infuse liquidity into the banking system daily via variable rate repo (VRR) auctions will lead to a drop in overnight interbank and money market rates, as well as near-end overnight index swaps,

by: MSN

Lenders expect mortgage demand to shrink in early 2025, Bank of England finds

Lenders expect mortgage demand to shrink in early 2025, Bank of England finds - The latest survey findings point to the financial strain on households against a backdrop of continued inflationary pressures,

by: MSN

Team SA ready to showcase nation's potential at WEF in Davos

South African government and business leaders prepare to present a unified message at the World Economic Forum in Davos, highlighting economic progress and successful public-private partnerships. Finance Minister Godongwana leads delegation with optimistic outlook despite recent challenges.

by: MSN

US Firm Behind Adani Scandal Investigation Announces Closure

A US-based financial research firm, Hindenburg Research, which exposed questionable business practices within the Adani Group has announced its closure. In a surprising turn of events, Nathan (Nate) Anderson,

by: MSN

THIS man married an actress who made her debut with Shah Rukh Khan and has net worth Rs 110 crore, she is...

This LA-based finance analyst got married to a popular Bollywood actress. She made her debut with Shah Rukh Khan. Can you guess who the couple is?

by: MSN

Why is Apple replacing Goldman Sachs as its credit card partner?

Apple's ongoing search for a new credit card partner has drawn significant attention in financial circles, not just for its implications for the tech giant, but also for what it reveals about shifting priorities within Wall Street.

Taxing charities' business income would have 'devastating' impact on communities

According to IRD, in order to successfully register with Charities Services a company's purpose must be fully charitable, defined as relieving poverty, advancing education or religion, or anything else that benefits the community. None of the charity's income can be used or made available to any of its members, trustees or associates.
The article from Newsroom discusses the potential impact of the Taxation (Annual Rates for 2023-24, Multinational Tax, and Remedial Matters) Bill on New Zealand charities. The proposed legislation would tax the business income of charities, which currently enjoy tax exemptions on such income if it is applied to charitable purposes. Critics argue that this change could have a "devastating impact" on communities, as many charities rely on business income to fund their operations. The article highlights concerns from various charity leaders who fear that taxing this income would reduce the funds available for community services, potentially leading to cuts in essential programs. They argue that the tax would not only affect the charities' financial stability but also the broader social fabric by diminishing the support provided to vulnerable populations. The piece also notes that the government's rationale for the tax is to ensure a level playing field with for-profit businesses, but critics counter that charities' primary aim is not profit but social good, making the comparison unfair.

Read the Full Newsroom Article at:
https://newsroom.co.nz/2025/01/16/taxing-charities-business-income-would-have-devastating-impact-on-communities/

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