In Australia,company profits are taxed using which of the following systems?

Question

Quizplus · Accepted Answer

The imputation tax system is used in Australia to tax company profits. This system allows companies to pass on tax credits to shareholders in proportion to the amount of tax paid on their profits. This means that when shareholders receive dividends, they can offset the tax they owe on those dividends with the tax credit provided by the company. This system helps to reduce the double taxation of company profits and encourages investment in Australian companies. The other options (B, C, and D) are not used in Australia's tax system for company profits.

In Australia,company Profits Are Taxed Using Which of the Following