Posted in home

Asia-Pacific has more billionaires than any other region, as pandemic boosts wealth

There are now 2,189 billionaires globally with a combined wealth of $10.2 trillion, as the pandemic-induced stock market rally catapulted the net worth of the world’s uber wealthy to a new high. 



a woman standing in front of a building talking on a cell phone


© Provided by CNBC


As of July 2020, Asia-Pacific accounted for the highest number of ultra-high net worth individuals, with 831 (38%) of the super rich residing in the region, where billionaire wealth now totals $3.3 trillion, according to Swiss bank UBS’ new Billionaires Insights Report 2020. That compares to 762 (35%) across the Americas and 596 (27%) in Europe, the Middle East and Africa (EMEA). 

Loading...

Load Error

The findings, based on interviews and data from 2,000 billionaires across 43 markets, saw Asia-Pacific retain its global position as “the engine of wealth growth,” UBS Global Wealth Management’s Anurag Mahesh said at the report’s launch Wednesday.  

Mainland China emerged as the region’s top market for wealth creation, with 415

Read More
Continue Reading Asia-Pacific has more billionaires than any other region, as pandemic boosts wealth
Posted in renovation

Home renovation tax credit proposed by Sask. Party, NDP proposes wealth tax

The Saskatchewan Party is promising a new home renovation tax credit while the NDP said it would bring in a wealth tax as the election campaign came to Saskatoon on Wednesday.

Scott Moe, the leader of the Saskatchewan Party, said homeowners would be able to claim a 10.5 per cent tax credit on up to $20,000 of eligible renovations under his proposed tax credit.

“In this year’s budget, we reduced the PST on new home construction,” Moe said in a statement.

“We also want to provide a break to those who are fixing up their existing home. This new home renovation tax credit does just that.”

Read more:
Saskatchewan election tracker 2020

Story continues below advertisement

The tax credit would include permanent additions to a homeowner’s primary residence but does not include items like furniture, appliances, hot tubs, tools or maintenance, Moe said

The cost of the program — which

Read More
Continue Reading Home renovation tax credit proposed by Sask. Party, NDP proposes wealth tax
Posted in improvements

Some Wealth Gap Improvements Were Happening, Then the Recession Hit

It is no secret that there is a wealth gap in America. Many nations have these wealth gaps among different races and ethnicities, but they are more easily tracked in the most developed economy in the world. Before considering the impact of the 2020 recession, there was some good news and some bad news in the wealth gap and disparities among different races in America.

The Federal Reserve has released its 2019 Survey of Consumer Finances. While the broad report is vast and covers many topics, the Fed also broke down how those wealth disparities look by race and ethnicity. Since the most recent similar report in 2016, the Fed indicated that the typical white family has about eight times the wealth of the typical Black family and about five times the wealth of the typical Hispanic family.



a pair of shoes


© Provided by 24/7 Wall St.


The Fed indicated that median wealth

Read More
Continue Reading Some Wealth Gap Improvements Were Happening, Then the Recession Hit