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cotton wool or stainless steel friday, page-56

  1. 2,883 Posts.
    dappadan, you only pay your income tax rate on 50% of your profit.

    For eg. If he made $5,000 profit and his income tax rate is 30% then all he has to pay is $2500x30% = $750

    Thats my understanding anyway, best to get a certified accountant though.

 
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