answersLogoWhite

0

Purpose of the income tax act?

Updated: 9/16/2023
User Avatar

Wiki User

14y ago

Best Answer

To raise Income Tax.

User Avatar

Wiki User

14y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Purpose of the income tax act?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What is the purpose of income tax act of Canada ITA Section 1253?

There is no section 1253 in the ITA.


Difference between income tax act and income tax rule?

The income tax act focuses its concern on total income and the income tax rule focuses on which types of income are taxable. That is the biggest difference between the two.


What is the purpose of the income tax brackets?

Income tax brackets enable the progressive taxation of income.


What is the definition of Turnover as per Income tax Act?

Turnover is not defined in Income Tax Act.Correct me if i am wrong.


Do Canadians legally have to pay tax If so then where does it state that we have to?

The provisions requiring payment of Income Tax are contained in the Income Tax Act.


What's the purpose of income tax brackets?

To enable the progressive taxation of income


What is the purpose of income tax brackets Apex?

To enable the progressive taxation of income.


How many pages are in the Canada Income Tax Act?

2504


What are some income tax software?

There are a lot of different companies that make income tax software. You can get a good deal by going with Turbo Tax or Tax Act. Both of these have free downloads.


What is the purpose of the townshed act?

It was a tax to raise money.


Purpose of sugar act?

The act lowered the tax on molasses imported by the colonists


What is the purpose of income tax deduction?

A deduction on your income tax return would reduce your taxable income on your 1040 income tax return and reduce your federal income tax liability. An income tax deduction amount from your gross pay would be a prepayment of any future federal income liability you may have after your income tax return is completely at the end of the tax year and if enough is deducted from your gross pay you could end up receiving a refund of some of the withheld income tax amount.