May 3 2017, 08:48 PM
QUOTE(Dividend Magic @ Apr 21 2017, 08:58 PM)
The dividends you receive are tax FREE.
Income cannot be taxed twice. Your dividend is paid from a company's profits which has already been taxed at a company level. Ie. corporate tax.
You keep your dividend vouchers in case IRB asks you where you got your money to buy that Ferrari.
Does this mean that if you own your own company, you can just give yourself dividend and no need to pay income tax?Income cannot be taxed twice. Your dividend is paid from a company's profits which has already been taxed at a company level. Ie. corporate tax.
You keep your dividend vouchers in case IRB asks you where you got your money to buy that Ferrari.
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