Canada Loses Its Pennies
Erin
04 April, 2012 10:22
What's a penny worth? Not enough in Canada. The country is giving up on the penny this year.
The New York Times reports, "In Canada, the Lowly Penny's Time to Shine Nears an End". Surprisingly, the penny costs more than a penny to make, prompting the abandonment.
"The government estimated that every penny costs it about 1.6 cents to produce. Eliminating the penny's production will reduce the government's costs by about 11 million Canadian dollars a year."
The Royal Canadian Mint will stop producing the littlest coin this fall, but Canadians will be allowed to use the penny indefinitely. The penny will die out on it's own as production of new coins ends. To compensate for the missing currency, cash transactions will be rounded to the nearest nickel (.05).
(More)
New U.S. Law Concerning Reporting on Overseas Accounts
Erin
19 January, 2012 12:53
A new law that requires overseas financial institutions to report on accounts held by U.S. citizens may make opening accounts overseas more difficult for expats. (More)
French Pension Plans
Erin
13 September, 2011 15:44
This
article is part of a series describing different pension systems around
the world. You will find the other articles already published at the
bottom.
French Social Security
Everyone working in France must contribute to the French Social Security system. Everyone is also entitled to benefit from social security without exception. This is called Couverture Maladie Universelle (CMU) or"health plan for everybody" with only .1 percent of people not covered.
Pensions are split into three levels:
- Retraite De Base or Minimum State Pension
- Retraite Complémentaire or Supplementary Pension
- Private Schemes
Most people rely on the mandatory plans and do not have voluntary or private pension scheme. (More)
How to Live in a City with a High Cost of Living
Erin
03 August, 2011 08:01
What city takes top spot as most expensive changes frequently, but the front-runners usually go to the same few cities with occasional upsets. Everyone has different standards of living, but it is important to know what exactly you are getting into when you move to a city with a high cost of living.
Cost of Living
The definition of cost of living is the amount of money needed to sustain a certain level of living, including basic expenses such as housing, food, taxes, and healthcare. Cost of living is often used when comparing how expensive it is to live in one city versus another. (More)
German Pension Plans
Erin
24 June, 2011 08:59
This article is part of a series describing different pension systems around the world. You will find the other articles already published at the bottom.
History of the German Pension Plan
Otto von Bismarck was a national-liberal statesman of the late 19th century that had the ear of Emperor Wilhelm. He is credited with establishing social insurance, partly which benefited the elderly and sickly. From 1891 it has been possible to obtain an old-age pension if over the age of 70 years old. This was a little dubious as the average life expectancy was 45 years at the time.
(More)
UK Pension plans
Erin
07 February, 2011 10:06
This article is part of a series describing different pension systems around the world. You will find the other articles already published at the bottom.
History of the UK Pension
The first pension schemes in the UK were actually organized for Royal Navy
Officers in the 1670s. In 1908, the arrangement was formalized with the creation
of the Old Age Pensions Act. Sir William Beveridge, father of the welfare state,
was an adviser on the program that provided assistance to the elderly and
honored them on January lst, 1909 with "Pensions Day".
(More)
Pension Plans for Americans
Erin
10 January, 2011 12:23
We are starting a series of articles describing different pension systems around the world.
History of US Pension
Public pensions began as "promises" made to veterans of the Revolutionary War. Those who served were often informally, and sometimes legally, promised financial security after the conflict. These agreements were much more widely used during the Civil War.
(More)
New Year, New Taxes
Erin
07 January, 2011 10:43
Rome Hotel Tax
Rome has hosted visitors for centuries and no matter the cost, one can expect it will continue to be a favorite of tourists for centuries to come. That doesn't mean a new tax on the city's visitors is appreciated. Along with people gathering around the Piazza del Popolo to ring in 2011, a new tax on tourism arrived as well.
What it is?
From January 1st, all visitors are expected to pay a per-person (over the age of ten), per-night tax on the first ten nights of their stay in Rome. (More)
Tourist Tax in America
Erin
30 August, 2010 08:28
Travelers to the USA may be looking forward to saving some money as the value of the dollar has diminished, but they will have to pay a new tourist tax first.
When?
On September 8th, 2010 the new tax will be initiated. The Travel Promotion Act was signed into law by President Obama in March 2010.
How much?
It is a $10 fee with a $4 administration fee equalling $14. It will only be collected once every two years. (More)
Pre-nuptial agreements: of any use in England?
EasyExpat
20 October, 2009 15:52
The Court of Appeal in England has recently re-made the law concerning the recognition of pre-nuptial agreements in England. So, what does this mean for you as an expatriate who may or may not have a prenuptial agreement in place with your spouse?
In July 2009 one of Germany’s richest women, Katrin Radmacher was awarded victory in her appeal to have her pre-nuptial agreement recognised in the English courts. Her former husband, Nicolas Grantatino had signed a pre-nuptial not to make any claims on her fortune if they split up, however he was awarded £5.85 million for his own use by a High Court Judge in 2008. The Court of Appeal overturned that decision. (More)
