#58154
Jimmy-T
Keymaster

    If the $180 is tax at 30%, that suggests your gross income should be something like $850 – $250 (Tax agent fee) = Net income $600 – Tax $180, for a net benefit to the scheme of $420.

    At the risk of being pedantic, the net benefit is to the owners, distributed for tax declaration purposes according to unit entiutlements.  That’s why many schemes, for so many years, have put their money in non-interest bearing accounts.

     

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