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Tourism Related Investment Tax Concessions and other Tax Considerations PDF Print E-mail

Tourism Related Investment Tax Concessions and other Tax Considerations

1. Accelerated Depreciation. Projects for approved hotel buildings or expansion may be entitled under the Hotels Aid Act to receive an Investment Allowance of 55 per cent of the cost to offset against chargeable income.

2. Double Taxation Agreement. As an additional inducement, Fiji has negotiated a double taxation agreement with New Zealand, Australia, Japan and United Kingdom under which exemptions or tax concessions granted by the Fiji Government are not negated by an imposition of tax in the country of residence of the investor. The contracting State(s) under the agreement would deem that tax has been paid and accordingly grant relief to the investor in respect of income flowing to him. - Please seek the advice of your accountant as to how this Double Taxation Agreement in combination with "2. Accelerated Depreciation" can benefit you.

3. No Taxation for Non-Residents on Profit on Sale of Investment Land. Non-residents will no longer be taxed on profits from the sale of land, which was acquired purely for investment purpose. They will, however be subject to tax if engaged in the business of buying and selling land (i.e. in the same way residents are now taxed).

4. Tourism Related Investments: Exemption of hotel developer profits (from the sub-division and subsequent sale of land) up to 31 December 2005.

5. No Witholding Tax on Dividends: No withholding tax is payable on dividends provided these are distributed to the shareholders after a company’s profits are fully taxed at corporate level.

6. Investment Allowances: A business entity or taxpayer may claim as a deduction investment allowance of 40% on the purchase of capital assets of not less than $ 50,000 per annum. The capital assets will not include land, buildings, passenger motor vehicle or trading stock. Such investment allowance can be claimed until 2005 (inclusive) for the expenditures incurred during this period.

7. Should you have borrowed in your country of residence to purchase, then all the interest payments should be tax deductible. Please seek advice concerning this from your accountant.

For more information on Foreign Ownership and Investment contact us in Fiji or the Fiji Trade and Investment Bureau (FTIB).
 
Tax Benefits PDF Print E-mail
The Fiji Government actively promotes the development of the tourism infrastructure in Fiji and has special tax concessions.

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 Image To also encourage investment in Fiji, the Fiji Government has set up the Fiji Islands Trade and Investment Bureau to assist investors with information and promote all the benefits of investing in Fiji.
 

Unequivocally the most beautiful home in Tonga this luxurious and eco-friendly waterfront property offers million-dollar panoramic views over the South Pacific. - F$950,000
Unequivocally the most beautiful home in Tonga this luxurious and eco-friendly waterfront property offers million-dollar panoramic views over the South Pacific.

Tonga is the only remaining Kingdom in the South Pacific.
This is where Time begins, where life is lived for the joy of it all, where rushing is rude, and the name of a new friend is never forgotten. Tonga is where people wear flowers tucked in their hair, not to impress visitors, but because they like to.

Unequivocally the most beautiful home in Tonga, this luxurious and eco-friendly waterfront property combines million-dollar panoramic views over the South Pacific with a level of technology and comfort hitherto unmatched in this rapidly developing Polynesian island paradise. Built in 2005, the house has been occupied by the owner and is in pristine condition. It is offered furnished or unfurnished.

Situated on the main island of Vava’u, this exceptional million dollar home is perched on a 30 meter high waterfront cliff at 18 degrees 40’ 37.38” S and 173 degrees 58’ 41.73” overlooking and providing for breathtaking panoramic vistas over the adjacent reefs and ocean.

Nested within one acre of beautifully landscaped gardens teeming with rare tropical multi hued ornamentals, fruit and hardwood trees and even a small vegetable and spice garden, this unique home has been specifically designed for this site, capturing the beauty and spectacular views whilst ensuring complete privacy for its tenants. The waterfront side consists of an uninterrupted succession of panoramic windows whereas all other frontages have been decorated with colorful ornamental bushes and trees, thus offering absolute protection not only from prying eyes, but also from the scorching afternoon heat.

Entirely designed and projected in New Zealand, every single part of this high-end timber-frame structure, along with all of its aluminum joinery and fixtures have been imported from that country to ensure a maximum of style, quality and durability.
The result is unequalled in design, standard and finish, all of which are superb.

The exceptional main building spans an area of over 250 sq m and consists of two wings that are separated by a spectacular, one-of-kind glass partition spanning a full two storeys.

From the moment you enter the double front doors, you will be impressed.

The naturally ventilated Living Quarters consist of a very large sitting room allowing for picturesque vistas through a stunning semi-octagonal panoramic window front, a large and fully appointed kitchen and pantry, a guest toilet and wardrobe and a generous dining room leading to a large shaded verandah, the current owner’s favorite lookout. From here, you can enjoy awe-inspiring views of the ever changing tropical skies and ocean and observe a multitude of resident sea birds.

Except for the kitchen, main entrance and verandah, which are tiled in Italian terracotta, all living quarters feature exquisite massive hardwood flooring and are provided with convenient ceiling fans.

The furniture and the decoration are an exquisite and tasteful unique fusion of antique English and contemporary high-end Italian with a sprinkle of rare artifacts collected in Europe and across the South Pacific.

The fully insulated Working and Private Quarters feature an oversized, fully air-conditioned private office with lovely views into the garden and over the ocean, an oversized storage room and a fully appointed laundry at ground level.

The first floor, which is accessed over a beautiful hardwood staircase, features a large air-conditioned master bedroom offering breathtaking panoramic vistas over the ocean and into the skies, a large bathroom with separate toilet, a spare bedroom and a huge walk-in wardrobe, along with a generous and fully private sun deck.

Once again, with the exception of the tiled bathroom, toilet and laundry, all living and working quarters feature the same striking massive hardwood flooring.

Notable major appliances include two large fridge-freezers, a large chest freezer and a spare fridge, also a dishwasher, a rarity in this country. Professional gas stove and electrical oven. Washing machine and dryer together with a spare washing machine.

Cyclone-proofing has been achieved by incorporating oversized beams and trusses, by anchoring all walls to the foundation via countless anchoring points, by the tilt, anchoring and make of the roof, and by reinforcing all major windows with lamination that doubles as tinting. Furthermore, an ingenious system of easily deployed netting will prevent any sizeable debris from reaching the windowpanes that are set at various angles to deflect any substantial wind loads.

Although completely secluded at the very end of a private road, the property is at only a 10- minute ride to the main center. The airport is at a 30-minute ride and the closest swimming beach, at 15 minutes.

This offering is ideally suited to a small, affluent family wanting to trade the hustle of modern day living for a more serene, eco-friendly yet comfortable way of life along the shores of the Pacific Ocean. Awake to birdsong and be lulled to sleep by the sounds of the surf.

The owner currently employs one reliable and, above all, trustworthy house cleaner and two gardeners who shall be happy to assist any purchaser in making his life as pleasant and care-free as possible.

There is also a reputable, foreign-owned Property Management company to guard, or even rent out the house should the new owners wish to merely use it as a secondary habitation.

The property comes with such a private land Lease Agreement expiring on April 1st, 2046.

The owner is also willing to sell the house fully furnished, appointed and decorated, together with a highly suitable and practical vehicle (Toyota RAV4).

This is a nature lover's delight, offering an unspoiled, unique environment of extreme beauty and tranquility.

It awaits your discovery.

... Read more


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Unequivocally the most beautiful home in Tonga this luxurious and eco-friendly waterfront property offers million-dollar panoramic views over the South Pacific.
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Situated on the main island of Vava’u, this exceptional million dollar home is nested within one acre of beautifully landscaped gardens, perched on a 30 meter high waterfront cliff at 18 degrees 40’ 37.38” S and 173 degrees 58’ 41.73” overlooking the ocea ... Read more


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