Dividend Imputation
Dividend imputation is a corporate tax system in which some or all of the tax paid by a company may be attributed, or imputed, to the shareholders by way of a tax credit to reduce the income tax payable on a distribution. In comparison to the classical system, it reduces or eliminates the tax disadvantages of distributing dividends to shareholders by only requiring them to pay the difference between the corporate rate and their marginal tax rate. The imputation system effectively taxes distributed company profit at the shareholders' average tax rates. Australia, Malta and New Zealand have imputation systems. Canada, Korea and the United Kingdom have a partial imputation system. Germany had a dividend imputation system until 2000 and France until 2004. The objective of the dividend imputation system is to collect tax on distributed income at the shareholder's tax rate, in order to eliminate double taxation of company profits, once at the corporate level and again on distributio ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Corporate Tax
A corporate tax, also called corporation tax or company tax or corporate income tax, is a type of direct tax levied on the income or capital of corporations and other similar legal entities. The tax is usually imposed at the national level, but it may also be imposed at state or local levels in some countries. Corporate taxes may be referred to as income tax or capital tax, depending on the nature of the tax. The purpose of corporate tax is to generate revenue for the government by taxing the profits earned by corporations. The tax rate varies from country to country and is usually calculated as a percentage of the corporation's net income or capital. Corporate tax rates may also differ for domestic and foreign corporations. Some countries have tax laws that require corporations to pay taxes on their worldwide income, regardless of where the income is earned. However, most countries have territorial tax systems, which only require corporations to pay taxes on income earned with ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Income Tax In Australia
Income is the consumption and saving opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms. Income is difficult to define conceptually and the definition may be different across fields. For example, a person's income in an economic sense may be different from their income as defined by law. An extremely important definition of income is Haig–Simons income, which defines income as ''Consumption + Change in net worth'' and is widely used in economics. For households and individuals in the United States, income is defined by tax law as a sum that includes any wage, salary, profit, interest payment, rent, or other form of earnings received in a calendar year.Case, K. & Fair, R. (2007). ''Principles of Economics''. Upper Saddle River, NJ: Pearson Education. p. 54. Discretionary income is often defined as gross income minus taxes and other deductions (such as mandatory pension contributions), and is widely used as a ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Derivative (finance)
In finance, a derivative is a contract between a buyer and a seller. The derivative can take various forms, depending on the transaction, but every derivative has the following four elements: # an item (the "underlier") that can or must be bought or sold, # a future act which must occur (such as a sale or purchase of the underlier), # a price at which the future transaction must take place, and # a future date by which the act (such as a purchase or sale) must take place. A derivative's value depends on the performance of the underlier, which can be a commodity (for example, corn or oil), a financial instrument (e.g. a stock or a bond), price index, a price index, a currency, or an interest rate. Derivatives can be used to insure against price movements (Hedge (finance)#Etymology, hedging), increase exposure to price movements for speculation, or get access to otherwise hard-to-trade assets or markets. Most derivatives are price guarantees. But some are based on an event or p ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Preferred Stock
Preferred stock (also called preferred shares, preference shares, or simply preferreds) is a component of share capital that may have any combination of features not possessed by common stock, including properties of both an equity and a debt instrument, and is generally considered a hybrid instrument. Preferred stocks are senior (i.e., higher ranking) to common stock but subordinate to bonds in terms of claim (or rights to their share of the assets of the company, given that such assets are payable to the returnee stock bond) and may have priority over common stock (ordinary shares) in the payment of dividends and upon liquidation. Terms of the preferred stock are described in the issuing company's articles of association or articles of incorporation. Like bonds, preferred stocks are rated by major credit rating agencies. Their ratings are generally lower than those of bonds, because preferred dividends do not carry the same guarantees as interest payments from bonds, and becau ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Interest
In finance and economics, interest is payment from a debtor or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct from a fee which the borrower may pay to the lender or some third party. It is also distinct from dividend which is paid by a company to its shareholders (owners) from its profit (economics), profit or Reserve (accounting), reserve, but not at a particular rate decided beforehand, rather on a pro rata basis as a share in the reward gained by risk taking entrepreneurs when the revenue earned exceeds the total costs. For example, a customer would usually pay interest to debt, borrow from a bank, so they pay the bank an amount which is more than the amount they borrowed; or a customer may earn interest on their savings, and so they may withdraw more than they originally deposited. In the case of savings, the customer is the lender, and the ban ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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IOU (debt)
An IOU (Abbreviation, abbreviated from the phrase "I owe you") is usually an informal document acknowledging debt. An IOU differs from a promissory note in that an IOU is not a negotiable instrument and does not specify repayment terms such as the time of repayment. IOUs usually specify the debtor, the amount owed, and sometimes the creditor. IOUs may be signed or carry distinguishing marks or designs to ensure authenticity. In some cases, IOUs may be redeemable for a specific product or service rather than a quantity of currency, constituting a form of scrip. California Registered Warrants Also referred to as "IOUs" by the U.S. state of California, the term "Warrant of payment, Registered Warrants", which specify a future payment date, is meant to differentiate these IOUs from regular, or “normal” payroll warrants which permit the holder to exchange their warrant for cash immediately. For both types of warrants, redeeming them may be delayed until funds are available. Beca ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Tax-free Threshold
The income tax threshold is the income level at which a person begins paying income taxes. The income tax threshold equates to the: * Personal allowance in the UK, which is £12,500 for 2019/20. *Basic allowance in Germany, which is €9,408 in 2020. *Income tax threshold in France, which was €6,088 in 2012. *The standard deduction in the US, which was $12,000 in 2018 for a single person. *Basic personal amount in Canada, which was C$11,809 in 2018. *Tax-free threshold in Australia, which was A$18,200 in 2023–24. *Tax-free threshold in Greece, which was €9,545 in 2016. *Tax-free threshold in Poland was 30,000 PLN in 2022. See also * Basic income guarantee *Tax bracket *Taxable income *Tax exemption Tax exemption is the reduction or removal of a liability to make a compulsory payment that would otherwise be imposed by a ruling power upon persons, property, income, or transactions. Tax-exempt status may provide complete relief from taxes, redu ... References {{Tax resist ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Ordinary Income
Under the United States Internal Revenue Code, the ''type'' of income is defined by its character. Ordinary income is usually characterized as income other than long-term capital gains. Ordinary income can consist of income from wages, salaries, tips, commissions, bonuses, and other types of compensation from employment, interest, dividends, or net income from a sole proprietorship, partnership or LLC. Rents and royalties, after certain deductions, depreciation or depletion allowances, and gambling winnings are also treated as ordinary income. A "short term capital gain", or gain on the sale of an asset held for less than one year of the capital gains holding period, is taxed as ordinary income. Ordinary income stands in contrast to capital gain, which is defined as gain from the sale or exchange of a capital asset. A personal residence is a capital asset to the homeowner. By contrast, a land developer who had many houses for sale on many lots would treat each of those ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Peter Costello
Peter Howard Costello (born 14 August 1957) is an Australian businessman, lawyer and former politician who served as the treasurer of Australia in Howard government, government of John Howard from 1996 to 2007. He is the longest-serving treasurer in Australia's history. Costello was a member of parliament (MP) of the Australian House of Representatives from 1990 to 2009, representing the Division of Higgins. He also served as the Liberal Party of Australia#Liberal federal deputy leaders, Deputy Leader of the Liberal Party from 1994 to 2007. On 18 September 2008, Costello was appointed as chairman of the World Bank's new Independent Advisory Board (IAB) to provide advice on anti-corruption measures. Costello served as Chairman of Nine Entertainment from February 2016 until June 2024. Costello is Chairman of the Board of Guardians of Australian Future Fund. Early life Costello was born on 14 August 1957 in Melbourne into a middle-class family of practising Christians. He was t ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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John Howard
John Winston Howard (born 26 July 1939) is an Australian former politician who served as the 25th prime minister of Australia from 1996 to 2007. He held office as leader of the Liberal Party of Australia. His eleven-year tenure as prime minister is the second-longest in Australian history, behind only Sir Robert Menzies. Howard has also been the oldest living Australian former prime minister since the death of Bob Hawke in May 2019. Howard was born in Sydney and studied law at the University of Sydney. He was a commercial lawyer before entering parliament. A former federal president of the Young Liberals, he first stood for office at the 1968 New South Wales state election, but lost narrowly. At the 1974 federal election, Howard was elected as a member of parliament (MP) for the division of Bennelong. He was promoted to cabinet in 1977, and later in the year replaced Phillip Lynch as treasurer of Australia, remaining in that position until the defeat of Malcolm Fraser ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Paul Keating
Paul John Keating (born 18 January 1944) is an Australian former politician and trade unionist who served as the 24th prime minister of Australia from 1991 to 1996. He held office as the leader of the Labor Party (ALP), having previously served as treasurer under Bob Hawke from 1983 to 1991 and as the seventh deputy prime minister from 1990 to 1991. Keating was born in Sydney and left school at the age of 14. He joined the Labor Party at the same age, serving a term as State president of Young Labor and working as a research assistant for a trade union. He was elected to the Australian House of Representatives at the age of 25, winning the division of Blaxland at the 1969 election. He was briefly minister for Northern Australia from October to November 1975, in the final weeks of the Whitlam government - along with Doug McClelland, he is the last surviving minister who served under Gough Whitlam. After the Dismissal removed Labor from power, he held senior portfolios i ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Bob Hawke
Robert James Lee Hawke (9 December 1929 – 16 May 2019) was an Australian politician and trade unionist who served as the 23rd prime minister of Australia from 1983 to 1991. He held office as the Australian Labor Party, leader of the Labor Party (ALP), having previously served as president of the Australian Council of Trade Unions from 1969 to 1980 and president of the Australian Labor Party National Executive, Labor Party national executive from 1973 to 1978. Hawke was born in Bordertown, South Australia, Border Town, South Australia. He attended the University of Western Australia and went on to study at University College, Oxford as a Rhodes Scholarship, Rhodes Scholar. In 1956, Hawke joined the Australian Council of Trade Unions (ACTU) as a research officer. Having risen to become responsible for national wage case arbitration, he was elected as president of the ACTU in 1969, where he achieved a high public profile. In 1973, he was appointed as president of the Labor ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |