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> when you take a dividend you get the tax back that has already been paid Yea, that needs to stop. This idea of being "taxed twice" is ridiculous because comp
by Quarrelsome 9y ago
> when you take a dividend you get the tax back that has already been paid
Yea, that needs to stop. This idea of being "taxed twice" is ridiculous because companies are not people. If they were then yes they would be taxed twice and it would be "unfair" but then they'd also be taxed at the proper rate.
- rossriley 9y agoNo, I was explaining that this already happens. Actually at least in the UK the system is just changing over to be more clear so rather than the tax credit you just get a lower rate. So for instance instead of the 25%ish that you would expect to pay in tax on your income you pay 7.5% on your dividends which is more or less the income tax rate minus the corporation tax already paid.
- Quarrelsome 9y agoyeah but your company paid the corp tax, not you. That's isn't fair because your company can offset its losses and individuals cannot. Its not a fair comparison.