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Tax credit
TAX CREDIT

Definition: A tax credit is an amount of money on which you do not have to pay tax.
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* All five elements should be in.


1. Purposeful and necessary to have 'facility'.

2. Has a legal authorization - not at the whim of taxman.

3. The 'minimum', in the opinion of the authority. That is, amount can be subject to an upward review to provide more income into the government's coffers. In other words, 'ceiling' can be raised higher!

4. Not an anticipatory amount or based on a projected income.

5. Not the maximum, that will leave as 'balance', an amount that will be too little to be useful, after tax has been paid by poor payee!
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See perfect TAX DODGER.
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See perfect WISHFUL THINKING.
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See perfect UNEARNED INCOME.
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See perfect TOP DOLLAR.

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