Stop forcing Ukraine into a narrative of Moscow versus Washington

The Guardian, by Oliver Bullough, Tuesday 20 May 2014
Anyone who tells you Ukraine is a battle between Russia and the west is wrong. It is a lazy narrative told by ignorant people, but is helping create a genuine tragedy that we should all be concerned about.
The history of Ukraine's crisis began not in February, with Viktor Yanukovych's flight, but in 1991, with independence. Desperate to break communism, privatisers sold state assets as quickly as they could. They didn't care who got them; they just wanted private property to exist. They thought the new owners would insist on their rights, and thus build a stable society, governed by the rule of law.
It was the west that killed that dream. By moving their wealth offshore – to Austria, the Caribbean or the various UK-owned tax havens – Ukraine's property owners could enjoy western property rights, while benefiting from chaos at home. That turned the privatisers' calculations on their head.
Insiders snatched Ukraine's industries, with particularly powerful business clans in the cities of Donetsk and Dnepropetrovsk. They fought for control of the government in Kiev, but all had the same basic interest: to perpetuate chaos. The longer Ukraine was a mess, the richer they got.

Tax havens

The main feature of an offshore jurisdiction is a tax policy favorable to foreign investment. But it is far from the only one. There are several additional features that make a country to pass from being considered a simple low-tax country to a real tax haven.

1. Personal data of owners and shareholders of companies are not listed in public records, or the use of formal representatives (called nominees) is allowed.
2. There are strict rules on bank secrecy. Data about account holders are only available to the authorities if there is evidence of serious crimes such as terrorism or drug trafficking.
3. Signing treaties with other countries involving exchanges of banking or tax information is avoided. Although this situation is changing in recent years.
4. Stability and monetary policy are promoted. Who would invest in a place with continuous coups d'état, wars or rampant inflation?
5. They have an excellent range of legal, accounting and tax advice services.
6. They often have good tourist and transportation infrastructure.

Countries such as Switzerland, Cyprus and Latvia, for example, have been highlighted for their strict bank secrecy laws. Another example is Ireland, which offers significant tax benefits for artists (writers, singers…).http://www.taxhavensguide.com/offshore.php

Paid Parental Leave Scheme

I worked for a company which had to pay Parental Leave to one of its employee.

1. Each fortnight we got payment from Centerlink.  I had to download and print a letter from Centerlink to file in an employee folder for archiving purposes. 
2. The money were paid into the company account. In accounting software I created 3 new accounts:  Liability Account "Parental Leave Funds" (2 - other Liability), Income Account "Parental Leave Received" (8 - other Income) and Expense Account "Parental Leave Paid" (6 - Expense).
3. Each time the company got the money from Centerlink I credited the Liability Account. Entries: Bank - DR, Parental Leave Funds - CR. In MYOB Banking - Receive Money, Tax Inclusive.
4. Payroll category: I created a new Wages category: Parental Leave (it replaces Salary, thus place tick next to Salary). Also tick Override Wages Expense Account and Select the newly created Parental Leave Paid Account.
   Payroll category: Tick Exempt on Superannuation tab.
5. MYOB: Card of the employee - Payroll Details - Standard Pay - Parental Leave category to the amount that is to be paid each pay period. All the other fields - 0.
6. The money stays in the Liability account and needs to be cleared each time the payment is made. Entries: Parental Leave Funds - DR, Parental Leave Received - CR. In MYOB Accounts - Record Journal Entry. 
7. And the last but not the least, Once the employee returns to work, In MYOB open the employee card  and click Reset to Original Amounts (on top).

From 1 July 2011 a company should provide Paid Parental Leave to all eligible employees who have been with the company for 12 months or more prior to the expected date of the birth or adoption. For these long-term employees, the Family Assistance Office will advance funds direct to business. These funds are sent in three instalments or fortnightly over the 18 weeks. For employees who have been with the company less than 12 months, the Family Assistance Office will make the payments directly to them, unless the company chooses to do so. Employees can apply to the Family Assistance Office up to three months before the expected birth or adoption.