Month: November 2018

India’s Supreme Court Overturns Colonial-Era Ban on Same-Sex Relationships

Post author By Sam Hoey | CRP, GMS
Post date November 29, 2018

Good looking mature Asian Indian businessman with business suit smiling isolated on white background. Portrait of handsome Indian male model.

In September 2018, India’s Supreme Court overturned the country’s colonial-era ban on same-sex relationships. The landmark ruling gave rise to celebrations across India and throughout Southeast Asia. Activists hope the ruling sparks similar reform in other nations. The Supreme Court rule noted that consensual same-sex relationships are not criminal in nature. Also, the Supreme Court noted that people in same-sex relationships in India are to receive all the protections offered in the Constitution of India.

History Behind India’s Supreme Court Ruling on Section 377

British Rule Over India

The law prohibiting same-sex relationships is known as Section 377. As part of the Indian Penal Code (IPC), Section 377 became law in 1861 when India was under British rule. Violations of Section 377 could have resulted in severe punishments. These punishments included the possibility of imprisonment for life, or a term up to 10 years, as well as a monetary fine.

First Challenge to Section 377

The challenge to Section 377 began in July 2009. This is when the Delhi High Court first decriminalized same-sex relationships among consenting adults. The Delhi High Court was hearing Public Interest Litigations (PILs) filed by non-government organizations. One such organization was The NAZ Foundation (India) Trust. NAZ Foundation has been working on sexual health matters in India since 1994.

Setback at the Delhi High Court

However, the Delhi High Court restored Section 377 in 2013 after appeals from several religious and conservative groups. In that decision, the court noted that Parliament, and not the courts, should take up the issue.

New Approach at India’s Supreme Court

Activists regrouped and took a different approach on the issue in 2016. Their new challenge focused on Section 377 as violating their rights to equality and liberty guaranteed under the India Constitution. July 2018’s hearings at India’s Supreme Court on the challenge included arguments that the law was legally inconsistent with other recent court rulings. One such ruling in 2017 guaranteed the constitutional right to privacy.

What does this mean?

With this ruling from India’s Supreme Court, the government in India will no longer be able to use Section 377 to prosecute consenting adults in same-sex relationships. India nationals in same-sex relationships will be accorded all of the India Constitution’s protections. While the ruling did not strike Section 377 from the IPC, the government can no longer use it to prosecute people in consensual same-sex relationships. It is important to note that India’s Supreme Court ruling on Section 377 applies to India nationals. The ruling may not apply to foreigners in India.

What should employers expect?

Employers in India should expect that additional legal challenges and rulings will follow. These challenges may be focused on issues such as marriage and parenting rights. Rulings that alter the current landscape of same-sex relationships may result in future employer obligations. Such obligations might include extension of health care benefits or similar programs. Many companies in India are eager to adopt inclusive policies and have been waiting for India’s Supreme Court to make its ruling on Section 377. As a result of this ruling, companies can now proceed to extend benefits to same-sex partners.

What should employers do?

Employers in India should review India’s Supreme Court rulings to determine how they might proceed with their employment plans. Employers should also be aware that future rulings will likely emerge over the next several years. As a result, these rulings may impact the employer’s ability to accommodate employees in same-sex relationships. Companies that are eager to provide benefits for their employees in same-sex relationships should work to ensure equal and fair treatment for all employees.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients develop relocation programs that attract and retain qualified employees across the world. Our team can help your HR teams communicate India’s Supreme Court ruling on Section 377 and its impact on transferees and their family members residing in India.

GMS was the first relocation company to register as a .com, created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation™ technology platform.

Contact our experts online to discuss your company’s relocation program needs, or give us a call at 800.617.1904 or 480.922.0700 today.

Tags India, India Same-Sex Relationships, Spouse and Partner Career Support Programs, Talent Management, Visa and Immigration Rules, Workforce Mobility, workforce mobility management, World Cultures and Customs

Buy a Home Domestic Relocation Challenges Domestic Relocation Tips Domestic Relocation Trends

Changes in Rules for Home Tax Deductions

Post author By Jules Matz | AHWD, ABR, CNE, CRP, GRI
Post date November 27, 2018

A yellow note pad rests on top of a 1040 tax form with a reminder of the new tax laws implemented for 2018.

Homeowners in the United States should be aware of changes to home tax deductions. These changes are important to understand for when they prepare their 2018 tax returns during the 2019 tax preparation season. They stem from the federal Tax Cuts and Jobs Act of 2017. Changes to home tax deductions were implemented to reduce the ability of homeowners to deduct interest on Home Equity Lines of Credit (HELOC) Loans. When HELOC loans are not used for home purchases, building, or substantial improvements, the interest on these loans will no longer be deductible. There are also dollar limits on the total qualified residential loan balances allowable for deductions, an increase in the standard deduction, and a $10,000 limit on the federal deduction of state and local taxes.

What is Home Equity?

Home Equity is the portion of a home that the owner actually “owns” either through paying down their mortgage or growth in the property value of the home. Homeowners who build equity in their home can help increase their net worth. As a result, home equity may offer homeowners a useful source of funds to borrow from in times of need, such as during a home renovation.

Internal Revenue Service (IRS) Issues Clarification for HELOC Loans

The IRS issued a clarification on February 21 of this year in response to several questions from taxpayers and tax professions. IR-2018-32: Interest on Home Equity Loans Often Still Deductible under New Law describes several examples to demonstrate the effects of the new rule. Important points of clarification include the following:

Interest on a home equity loan used to build an addition to an existing home is typically deductible
Interest on a home equity loan used to pay personal living expenses, such as credit card debts, is not deductible
The loan must be secured by the taxpayer’s main home or second home (known as a qualified residence)
The loan must not exceed the cost of the home and meet other requirements

Additionally, the new tax reform law imposes lower dollar limits on mortgages in order to qualify for the home mortgage interest deduction. The IRS notes that starting in 2018:

Taxpayers may deduct interest on $750,000 of qualified residence loans, down from the previous $1 million limit
There is a limit of $375,000 for a married taxpayer who files a separate return. This is down from the previous $500,000 limit
The new limits apply to the combined amount of all loans used to buy, build, or substantially improve the taxpayer’s main home and second home

Itemizations Must Exceed New Standard Deduction

To itemize for 2018 taxes, taxpayers must understand the impact of the new standard deduction. The tax reform law states that total home tax deductions must exceed the new standard deduction. The new standard deduction amounts are:

$12,000 for singles
$18,000 for heads of household
$24,000 for married couples who file jointly
$1,600 additional deduction for singles 65 and older
$2,600 additional deduction for married couples both 65 and older

Limit on State and Local Tax Deductions

The tax reform law places a limit on the federal deduction of state and local taxes to only $10.000. Homeowners in areas of the United States which experience high taxes include those in the Northeast and the West Coast. As a result, these homeowners may experience an increase in their tax liability.

What Should Homeowners Do?

Homeowners planning to file for home tax deductions on their 2018 tax returns should be aware of the changes to allowable deductions on their HELOC loans. They should also be aware of the new lower dollar limits on qualifying mortgages imposed by the tax reform law. Homeowners should be aware of the requirement that deductions must exceed the new standard deduction if they plan to itemize. Homeowners in states with high taxes should be aware of the new $10,000 limit on federal deduction of state and local taxes. In all cases, homeowners should consult a qualified tax professional for guidance on this issue.

Conclusion

Global Mobility Solutions’ team of corporate relocation experts has helped thousands of our clients understand the importance of obtaining professional guidance when it comes to changing tax regulations. We can help your company understand how to communicate the potential impact of these changes to your new hires and transferees. This will ensure they have relevant information as it applies to their relocations.

Learn best practices from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online or give us a call at 800.617.1904 or 480.922.0700 today.

GMS is not a tax advisor and is only disseminating public information. You should always consult your own tax professional prior to making any decisions.

Tags Domestic Real Estate, Domestic Relocation, HELOC Loans, Home Tax Deduction, Home Tax Deductions, mortgage costs

Domestic Relocation Domestic Relocation Tips Domestic Relocation Trends Employee Development Talent Management Talent Mobility

Fastest Growing Jobs in the USA Can Be Filled Using Relocation Services

Post author By Sam Hoey | CRP, GMS
Post date November 13, 2018

Portrait of young software engineers using digital tablet

The fastest growing jobs in the USA are within several industries. Many of these jobs have education, training, certification, or experience requirements for new hires. Employers seeking to find candidates with the requisite qualifications benefit from using pre-hire assessments in their talent recruiting process. Pre-hire assessment tools may identify viable candidates in other parts of the country, or even outside the USA. Employers can use relocation services to attract viable candidates who might need to relocate for the position.

Fastest Growing Jobs in the USA for 2018

The Occupational Outlook Handbook published by the United States Department of Labor, Bureau of Labor Statistics, lists the fastest growing occupations. According to the Handbook, 20 occupations will experience the highest increase in growth over the time period 2016-26.

Major industries that have the fastest growing jobs include:

Renewable Energy
Medical
Mathematics
Information Technology
Operations Research

The fastest growing jobs include several within the Medical and Science, Technology, Engineering, and Math (STEM) industries. These jobs often feature the ability to work flexible schedules, or to work on a limited assignment.

In fact, the rise in short term assignments in healthcare has been due in part to the challenge of finding candidates with the requisite qualifications. Many healthcare companies have been able to attract highly qualified candidates who want to travel to new locations on a regular basis with short term assignments.

Often, the fastest growing jobs are also those that have the highest rates of pay. For example, many Information Technology jobs offer exceptionally high salaries. Within Information Technology, jobs may feature data insight or engineering functions, indicating a wide range of opportunity in this industry.

Labor Force Dynamics Reinforce the Fastest Growing Jobs

The USA’s labor force is undergoing changes that create demand for several of the fastest growing jobs. Slower labor force growth means the labor force will continue to increase in age. Workers who are 55 or older are projected to grow to nearly 25% of the entire labor force by 2026. The increasing age of the labor force and the nation’s population means healthcare practitioners, support, and technical occupations will be the fastest growing jobs through 2026. The aging population along with longer life expectancies and growing rates of illness will continue to increase demand for healthcare services, and in turn, healthcare jobs.

Other occupations outside of the Medical and STEM industries that are also on the list of the fastest growing jobs include:

Social & Community Service Manager
Fundraiser
Pile-Driver Operator
Market Research Analyst

What Should Employers Expect?

Employers should expect that the fastest growing jobs will lead to greater competition for qualified candidates. Employers should also expect that they may need to expand their talent recruiting programs to search beyond traditional venues, including outside the USA.

What Should Employers Do?

Employers should review their talent recruitment programs to determine if they need to enhance their relocation policy to better focus on attracting new hires to open positions. Employers should ensure their relocation policies reflect industry best practices. In industries experiencing significant growth, employers should review their talent recruitment programs and relocation policies. They should look into enhancements that highlight the organization’s growth and opportunities. They should also review their programs and policies to highlight the potential for the candidate’s future career growth and success.

Conclusion

Global Mobility Solutions’ team of corporate relocation experts has helped thousands of our clients with their talent recruitment programs and relocation policy needs. We can help your company understand how to design your relocation policy to reflect industry best practices and highlight your organization’s growth and opportunities to attract new hires.

Learn how your company can benefit from programs and policies that are designed to attract qualified candidates from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed. Contact our experts online or give us a call at 800.617.1904 or 480.922.0700 today.

Tags Domestic Relocation, global relocation, Human Resources Innovation, relocation, Talent Management, Workforce Mobility, workforce mobility management

Choosing a Relocation Company Relocation Best Practices Relocation Management Relocation Policy Review Relocation Programs

Does Your Relocation Management Company Have a Business Continuity Plan?

Post author By Sam Hoey | CRP, GMS
Post date November 6, 2018

Does Your Relocation Management Company Have a Business Continuity Plan?

Your company may have a Business Continuity Plan (BCP) in place. This will ensure your organization can continue operating during an unplanned event. Many companies go to great lengths to ensure essential business functions continue regardless of what kind of disruption may occur.

Do you know if your Relocation Management Company (RMC) has a similar document to ensure they can provide essential services? RMCs should have a BCP so they can assure their clients that relocation services will continue during any possible situation that could cause disruptions.

What Situations Might Cause a Disruption for Your RMC?

It is impossible to list every possible disruption that your RMC may encounter. However, a few specific situations illustrate the importance of ensuring your RMC can continue operations according to their Business Continuity Plan.

Weather

Relocations often are subject to adverse weather conditions. Household goods shipments as well as travel plans may face delays due to severe storms such as hurricanes, blizzards, and ice storms. Severe weather can cause destruction of transportation networks and storage facilities. In 2017, the United States endured 16 destructive weather and climate events that each caused over a billion dollars of damage, including floods, hurricanes, and tornadoes.

Human Error

Any business is subject to human error. However well-intentioned, simple mistakes could cause significant issues for transferees, new hires, and your company. Your RMC should have sufficiently secure processes and systems in their Business Continuity Plan to prevent human error from causing huge and costly issues for your business.

Cyber-Attack

A cyber-attack is when one or more computers launch an attack against another computer, several computers, or an entire computer network. The goal may be to disrupt service. Alternatively, the goal may be to gain information. Your RMC will likely have access to some of your company and transferee’s data. As a result, their BCP should include plans regarding the impact of cyber-attacks.

What Should Your RMC Include in Their Business Continuity Plan?

Every BCP should include basic information that tells the RMC what the plan includes, and how to implement the plan. Major points to look for:

Contact information for the organization and employees who will implement the BCP
Revision and change management for the BCP
Business Continuity Plan purpose and scope of the plan
Specific instances that indicate when users should activate the BCP
Emergency organizations including contacts and responsibilities
Information on insurance and other policies
Procedures with detail so users have guidelines for how they should proceed
Clear diagrams to show how the business will proceed
Helpful checklists to remind Business Continuity Plan users what they should do
Plan for reviewing, testing, and revising the BCP on a regular basis

What Should Your Company Do?

Your company should contact your RMC and ask for their Business Continuity Plan. Be sure the plan covers all of the major points noted herein. The plan should have details regarding continuity in the face of unplanned events regarding weather, human error, cyber-attacks, and other issues including supplier work stoppages, security concerns, and natural disasters.

Conclusion

Global Mobility Solutions’ team of global relocation experts has helped thousands of our clients understand the importance of ensuring their RMC has a detailed Business Continuity Plan. We can help your company understand what should be included in a BCP. With this knowledge, you and your transferees can have confidence that relocation services will not face disruption.

Tags Business Continuity Plan, relocation companies, relocation management, relocation policies, relocation programs

Buy a Home Global Relocation Global Relocation Challenges Home Purchase

United Kingdom Housing Market Sees Rate of Annual Price Growth Decline

Post author By Jules Matz | AHWD, ABR, CNE, CRP, GRI
Post date November 1, 2018

Man and woman smiling towards camera in modern living room, both in their 30s, confident and cheerful

The United Kingdom housing market is experiencing a period with annual price growth in decline. Annual price growth through August 2018 declined to 2% from July’s rate of 2.5%. Additionally, house values on a month to month basis declined by 0.5%, the largest monthly decline on record since July 2012.

What is causing the annual price growth to decline?

The annual price growth is declining due to a number of factors:

The UK housing market is coming off an extended thirty-year expansion as economic growth begins to slow.
Uncertainty fueled by Brexit has further dampened both the economy and home buyer enthusiasm.
In the UK, an increase in stamp duty on second homes to 3% has also hurt demand. Stamp Duty Land Tax (SDLT) is a tax on land transactions in the UK arising from the Finance Act of 2003. SDLT is not a stamp duty, but a form of self-assessed transfer tax charged on “land transactions.”
The market typically experiences a period of slow activity during the summer months as well, with many people on holiday.
The UK housing market currently has too much stock on the market, dampening prices. The market has the highest amount of stock since September 2015. Up to one third of houses have had at least one price reduction, the highest percentage in summer since 2011.

These factors combined are creating a faster rate of annual price growth declines. The declining rate of annual price growth is further hampered by falling UK home prices.

Where are prices declining the most?

London is currently experiencing an economic slowdown. Home prices in London are falling at their fastest rate since the city experienced the pain of the worldwide financial crisis earlier in this decade. London home prices fell 0.7% on an annual basis through June, the lowest rate since September 2009, and fell 0.2% in May. June was the fifth month London house prices have fallen in 2018. The rate of annual price growth has been slowing in the UK since 2016, and has remained below 5% throughout most of 2017 and 2018.

What should employers expect?

Employers should expect that the UK housing market may present favorable conditions for relocations to the UK market, as buyers may be able to obtain good quality properties at better prices. Conversely, employers looking to relocate employees from the UK market may experience longer delays for property sales. They may also experience some transferees not desiring to relocate in the short term due to lower home selling prices.

What should employers do?

Employers should review their hiring plans and determine if there are opportunities to relocate transferees to the UK while the housing market is presenting favorable buying opportunities. Employers should examine their relocation policies to determine if they should be amended to assist transferees looking to relocate out of the UK as the housing market experiences annual price growth declines and home prices decline overall.

Conclusion

Global Mobility Solutions’ team of global relocation experts has helped thousands of our clients with their country-specific employment, visa, and residency requirements. We can help your company understand how to understand and respond effectively to the UK housing market’s impact on transferees and their willingness to accept relocations as annual price growth declines.

Learn how housing markets impact relocations from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online or give us a call at 800.617.1904 or 480.922.0700 today.

Tags Global Real Estate, global relocation, Global Relocation Tips, relocation, Relocation to the United Kingdom, Relocation to UK, UK, UK Economy, UK Housing

History Behind India’s Supreme Court Ruling on Section 377

British Rule Over India

First Challenge to Section 377

Setback at the Delhi High Court

New Approach at India’s Supreme Court

What does this mean?

What should employers expect?

What should employers do?

Conclusion

What is Home Equity?

Internal Revenue Service (IRS) Issues Clarification for HELOC Loans

Itemizations Must Exceed New Standard Deduction

Limit on State and Local Tax Deductions

What Should Homeowners Do?

Conclusion

Fastest Growing Jobs in the USA for 2018

Labor Force Dynamics Reinforce the Fastest Growing Jobs

What Should Employers Expect?

What Should Employers Do?

Conclusion

What is causing the annual price growth to decline?

Where are prices declining the most?

What should employers expect?

What should employers do?

Conclusion

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