Loophole

Fraudsters exploit confusion or anxiety over new IHT rules by offering a ‘safe haven’ for savings potsThe caller pitches a great deal. Shift the moneysaved in your pension and reinvest it in a scheme overseas where you can avoid it being caught under next year’s changes to the UK’s inheritance tax (IHT) system.From April next year, any money left in a defined contribution pension after your death, which is most workplace and all private pensions, will be pulled into the IHT net. Continue reading...

DoJ announces changes including ‘loophole’ that allows people to buy guns at shows without background checkThe US justice department has rolled back several significant restrictions on guns, including reinstating the so-called “gun show loophole”, which allowed people at such events to buy firearms without a background check.The changes, announced by the acting attorney general, Todd Blanche, amount to a shift in firearm policy advocated by supporters of the second amendment, who are prominent in Donald Trump’s supporter base. Continue reading...

Section of state’s electoral act that introduced caps on political donations but carved out an exemption for major parties ruled unconstitutional The high court has ruled Victoria’s political donation laws are unconstitutional, in a move that has been described as “enshrining a level playing field”.The unanimous decision, handed down by Australia’s highest court on Wednesday, struck out an entire section of Victoria’s electoral act that introduced caps on political donations but carved out an exemption for major parties. Continue reading...

New measures will protect Tata and British Steel but allow foreign pre-made parts into the UK, say industry bossesSteel bosses have warned ministers that a “back door” in new trade rules could hit British manufacturers and lead to job cuts and factory closures by allowing a vast array of foreign products to still enter the UK tax-free.The loophole means pre-made steel parts ranging from bridge sections, columns and door frames, all the way to smaller rods and tubes used in buildings, will escape recently announced import tariffs, the Guardian understands. Continue reading...

• The bipartisan Fourth Amendment Is Not For Sale Act seeks to prohibit law enforcement and intelligence agencies from buying sensitive data like geolocation from third-party brokers. • Current privacy laws fail to cover data brokers, allowing circumvention of Electronic Communications Privacy Act restrictions via middlemen. • Similar provisions in Government Surveillance Reform Act and Security and Freedom Enhancement Act would limit purchases, with exceptions for emergencies and warrants.