A Reputation Taxes - Part 1

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Through the proposed DTC / GST legislations, brand new has acknowledged the need of new revenue system however the proposed new laws apparently appear being even complex then the present one.

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Contributing a deductible $1,000 will lower the taxable income among the $30,000 each year person from $20,650 to $19,650 and save taxes of $150 (=15% of $1000). For your $100,000 yearly person, his taxable income decreases from $90,650 to $89,650 and saves him $280 (=28% of $1000) - almost double the amount of!

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