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Taxes

Imputation system

In finance, we often come across the term "imputation system". It refers to a tax system where a portion of the tax paid by a company on its profits is offset against the tax liability of shareholders who receive distributions from the company's profits. This system aims to avoid double taxation on corporate profits and incentivize companies to distribute their earnings to shareholders in the form of dividends. Essentially, it allows shareholders to benefit from the company's tax payments. This is a common practice in many countries, and understanding its implications is crucial in the world of finance.

Tax shelter

Tax planning involves strategically utilizing legal methods to minimize tax obligations and potentially defer payment. This includes taking advantage of tax relief and exemp...

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Personal allowances

This can reduce the taxable income and thus, the amount of tax owed. As we delve into the realm of personal finance, it is crucial to understand the concept of personal all...

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Management expenses

When it comes to calculating taxable profits for a trade, the expenses of management are typically deductible. However, for a group of companies, it becomes crucial to deter...

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Income splitting

A key concept in finance is the utilization of arrangements where income, that would have been subjected to a higher tax rate if received by the original earner, is instead ...

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