When you pay more tax than you take in, you don't owe double the taxes that you actually owe.But when you take more than you pay in, the difference between what you pay and what you owe becomes double taxation.The double taxation is the result of two separate taxes, each of which is imposed on a different individual.It's a tax
Read MoreThe world's most indebted country, the United States, is expected to be the biggest recipient of aid from the World Bank next year, according to a study by the think tank.The report by the Center for American Progress found that the US spends an average of $14,200 per capita on international aid, compared with $11,500 in the next-highest-ranked country, China.But
Read MoreIn 2018, the Australian Taxation Office released new rules that allowed car rental companies to tax their rental income on the first $4,000 of the property's value.The rule, which came into effect on February 1st, allows rental companies, such as car rental company CPA and car rental platform RentBuddy, to tax the rental income of a rental property based on
Read More
I have been thinking about quitting my job.I was in my early thirties when I first started my job at a major financial services company in Toronto.I thought I was doing a great job, but when I went on maternity leave in 2006, I realized I was paying tax on income I didn't earn, even though I did not file
Read More
New Jersey voters are about to be handed a huge tax refund thanks to the Governor's tax refund package.The New York Times reports that Gov.Chris Christie's administration is rolling out the program in the state this week.Here's what it looks like:New Jersey has been grappling with the aftermath of Superstorm Sandy.In addition to $4.7 billion in tax refunds to businesses
Read More
Posted September 25, 2018 03:16:23A new bill in the U.S. House of Representatives has the potential to drastically change how tax incentives for video games are handled.Under the bill, gaming companies would no longer have to pay income taxes on revenue generated from their games.Instead, they could pay a special tax on the sale of the game or add it
Read More
The corporate tax rate has dropped to a historic low of 21.5%, according to new data from the Internal Revenue Service.The tax cut was announced last month as President Donald Trump sought to boost corporate profits and tax revenues.The average effective corporate tax rates have fallen from 33% to 16% since 2001.That's the first time in US history the average
Read More
Malaysia's taxation system is a tangled mess that is in many ways similar to the US tax code.Its complicated structure, its lack of clear and consistent rules and its lacklustre enforcement are all parts of a very complicated and confusing tax system.Malaysia's system is currently a mess, according to the latest figures from the OECD, a tax watchdog organisation that
Read More
By TOM RUSSELL and MIKE GOLDBERGPublished April 19, 2018 06:15:32California tax cuts would boost economic growth by as much as 3.8% in the state and could help spur economic growth, according to a new study.The California Tax Foundation released a study on Thursday that estimated that a three-year, $100 billion tax cut would create more than 500,000 jobs, boost the
Read More
New Jersey could be on the verge of introducing a new kind of income tax, with a state lawmaker saying the proposal has been discussed by the Department of Taxation.The legislature passed the bill, which is a response to the governor's request for a more progressive tax system in the state, last week.New Jersey Gov.Chris Christie, who took office last
Read More
