Tax Planning Defined

Tax Planning Defined - general anti-avoidance rule(GAAR...

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Tax Planning Defned * Tax planning is the legitimate arranging oF one's fnancial activities in a manner that reduces or deFers the related tax cost * IF the tax authorities do not attempt to prevent certain transaction, then those transactions can be considered legitimate * The Income Tax Act has been changes to include what is called the
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Unformatted text preview: general anti-avoidance rule (GAAR), which attempts to indicate what is not legitimate tax planning * The above tax planning action is clearly provided For in the Income Tax Act and constitutes a legitimate tax planning activity...
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