Well, instead of having to claim all their practice's income
in a given fiscal year, they can leave it
in the
corporation, pay less
tax, and then either reinvest it or dividend it out to shareholders — particularly those who
are in lower income
tax brackets.
In 1991, Apple Corporation cut a deal with the Irish government so that only a certain bracket of its earnings would be taxed, giving it, writes Business Insider,»... a dramatically lower tax rate than it would have to pay in the U.S.» In return, Apple promised jobs, lots of jobs, which it provide
In 1991, Apple
Corporation cut a deal with the Irish government so that only a certain
bracket of its earnings would
be taxed, giving it, writes Business Insider,»... a dramatically
lower tax rate than it would have to pay
in the U.S.» In return, Apple promised jobs, lots of jobs, which it provide
in the U.S.»
In return, Apple promised jobs, lots of jobs, which it provide
In return, Apple promised jobs, lots of jobs, which it provided.
Having said that, it
's generally expected to pass — the Labor Party, The Greens, and several independents have said they'll support it, and the opposition (generally opposed to anything climate - related) don't have the numbers to block it, although they've promised to repeal it if elected
in 2013 (although the total package has
been cleverly built, so to repeal it, they'll have to promise to raise
taxes on the
low & middle income
brackets, cut aged & disability pensions, and rely on the «goodwill» of large
corporations to
lower prices for electricity & other carbon - intensive goods).