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Govt to deliberate tax measures as investors fret Move to target tax evaders through GAAR, retroactively tax indirect transfer of assets, has spooked investors, leading to exodus of funds Reuters / Mumbai May 06, 2012, 14:44 IST

Whatever its intentions in cracking down on abuse of tax havens, India has alienated overseas investors with the timing and communication of its measures when it can ill afford to do so.

The government's move to target tax evaders through a general anti-avoidance rule (GAAR), along with a plan to retroactively tax the indirect transfer of assets, has spooked investors and added to an exodus of funds, battering the rupee.

"We are hoping that because of the currency and because of inflow problems, they might either delay it by a year or do something else," said Samir Arora, an India-focused fund manager with Helios Capital Management in Singapore.

After days of what traders said was intervention to defend the rupee, the Reserve Bank of India late on Friday took steps to encourage dollar inflows, a move dealers said may do little to improve near-term weakness in the currency, which is approaching an all-time low set in December.

Meanwhile, the gloomy mood derailed the year's biggest initial public offering from India, with auto parts maker Samvardhana Motherson Finance Ltd on Friday scrapping its $311 million issue because of poor demand.

Foreign funds are usually the biggest buyers of large Indian equity deals.

Adding to investor ire, India said on Friday it may review its tax break treaty with Mauritius, the East African island country that the majority of foreign portfolio inflows are believed to be routed through.

Mauritius is the same source of fund flows India is targeting through its GAAR proposal.

"Govt going all out to make foreign investors flee India. GAAR is not yet settled and they are making statements on Mauritius treaty review," tweeted Sandip Sabharwal, head of portfolio management services at Prabhudas Lilladher Group.

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Govt to deliberate tax measures as investors fret

By Tony Munroe

MUMBAI (Reuters) - Whatever its intentions in cracking down on abuse of tax havens, India has alienated overseas investors with the timing and communication of its measures when it can ill afford to do so.

India's move to target tax evaders through a general anti-avoidance rule (GAAR), along with a plan to retroactively tax the indirect transfer of assets, has spooked investors and added to an exodus of funds, battering the rupee.

Starting on Monday, India's parliament will begin considering the finance bill that includes the tax proposals but final details may be a month or more away, government sources have said, which could prolong the uncertainty and aggravate a balance of payments shortfall.

"We are hoping that because of the currency and because of inflow problems, they might either delay it by a year or do something else," said Samir Arora, an India-focused fund manager with Helios Capital Management in Singapore.

After days of what traders said was intervention to defend the rupee, the Reserve Bank of India late on Friday took steps to encourage dollar inflows, a move dealers said may do little to improve near-term weakness in the currency, which is approaching an all-time low set in December.

Meanwhile, the gloomy mood derailed the year's biggest initial public offering from India, with auto parts maker Samvardhana Motherson Finance Ltd on Friday scrapping its $311 million issue because of poor demand. (L4E8G45PK)

Foreign funds are usually the biggest buyers of large Indian equity deals.

Adding to investor ire, India said on Friday it may review its tax break treaty with Mauritius, the East African island country that the majority of foreign portfolio inflows are believed to be routed through.

Mauritius is the same source of fund flows India is targeting through its GAAR proposal.

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India to deliberate tax measures as investors fret

A case of the stock market willies may be especially harmful to novice investors. After all, the classic thinking is that younger people should have riskier portfolios stuffed with stocks because they have so many years to ride out the ups and downs of market cycles. Across the pond, the Brits have come up with an interesting solution to this problem through a major overhaul of the retirement savings system, the National Employment Savings Trust.

Mark Fawcett, NEST's chief investment officer, explains that during the credit crisis of 2008, many young retirement savers stopped making contributions or moved their nest eggs to cash. That meant they locked in their losses and missed the stock market rebound that has taken place in the U.K., just as it has in the U.S.

So, Fawcett says, NEST has re-engineered some investments, keeping in mind the fearfulness of young investors. Instead of offering target-date funds that start out heavy on stocks and gradually grow more conservative as the years pass, the plan puts newbie investors into conservative funds that become aggressive as investors mature.

Here's how it works. A 22-year-old retirement saver may start with contributions to a target-date-type fund with a small percentage of stocks and, therefore, low risk. By the time the saver turns 27, the portfolio has a moderate allocation to stocks and increased but moderate risk. And by age 30, the saver is invested almost entirely in stocks.

But wait. Aren't investors missing out on big returns when they're young? "Maybe," says Fawcett, "but there's virtually no impact on the size of the final pot." That's because retirement savings balances are relatively small when investors are starting out.

John Ameriks, head of the investment counseling and research group at mutual fund giant Vanguard, says: "If you don't feel comfortable putting 90 percent in the market when you're young, put in 45 percent, (and) never let the risk involved in the stock market stop you from starting a savings program." Original Print Headline: Savings tips help scared investors

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Money Power: Savings ideas for scared, young investors

SYCAMORE The DeKalb County Treasurers Office distributed 39,000 real estate tax bills this week.

This years bill was mailed in a letter-size envelope and has the phrase This is Your Tax Bill in large, white letters highlighted in a green box on the front, according to a news release from the treasurers office.

The treasurers office will collect a total of $193,354,167.18, which will be distributed to various taxing entities, including the county, townships, municipalities, the forest preserve, school districts, community college districts, park districts, library districts, fire districts, drainage districts and tax increment financing districts.

A property tax information guide is included with the tax bill.

Taxpayers are asked to examine their bills carefully upon receipt. The first installment is due June 4 and the second is due Sept. 4. Taxpayers receive one bill annually with two payment stubs, which are located on the bottom of the bill. Residents should return either the first or second installment stub with the corresponding payment or both stubs if they are paying both installments, according to the news release.

The bar codes on the stubs will allow the treasurers office to scan payments into the property tax collection system. Taxpayers are asked not to mark on the payment stubs.

Taxpayers can pay with Visa, Master Card, American Express or Discover credit cards via the Internet or in person at the treasurers office. A convenience fee, charged by the individual credit card company, will be added for those paying by credit cards, according to the news release.

Taxpayers also can pay online with a direct debit from their bank account by visiting http://www.dekalbcounty.org. Taxpayers will be able to enter payments online up to 30 days before the date they want the payment to be deducted from their account and will receive email confirmation their payment has been sent.

They also can pay their taxes at most banks in DeKalb County during the banks normal business hours, on or before the due date of the installment. Taxpayers should bring the entire statement to the bank and put their parcel number on their check.

If paying by check, taxpayers should make the check payable to DeKalb County Collector. Make sure to include the parcel number on the check, that it is signed, and that the numeric amount matches the dollar amount that is written out.

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Treasurer distributes real estate tax bills

With so many distractions, its a wonder real estate agents are productive at all. Working to become a highly productive real estate agent is an ongoing process. Creating habits that produce consistent results allows you to achieve your maximum potential.

Time management has always been a real challenge. Between phone calls, a barrage of emails, listing presentations, prospecting calls and buyers appointments, how do you stay productive?

Keep yourself focused, alert and on track with these 5 Habits of Highly Productive Real Estate Agents

Top Productivity Habits

1. Focus on Your Most Important Tasks

The first part of every real estate agents day should be spent focused on the most important tasks. Why bother spending hours on time-consuming/low-payoff tasks when you could focus on tasks that actually generate income and produce results?

Schedule time on your calendar and then list out everything you will work on. Once youve done that, number each item and work through your list. Complete what you can during your scheduled time without any interruptions or distractions. Rinse and repeat the next day.

2. Remove Distractions

Between the phone, email, Internet, employees and all other interruptions, our day can quickly get away from us if we allow it. Turn it all off and stay focused on your task at hand.

Do not allow for a quick vacation on Facebook or a stroll down memory lane with an old friend. Cut yourself off from all distractions, work down your list and take a break once complete.

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5 Habits of Highly Productive Real Estate Agents