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Of the following statements about tax credits, which one is correct? a) They are allowed as a deduction in the calculation of Taxable Income of
Of the following statements about tax credits, which one is correct?
a) They are allowed as a deduction in the calculation of Taxable Income of an individual
b) They reduce a tax payable by the same amount regardless of a taxpayer;s level of income and marginal tax rate
c) They are allowed as a deduction in the calculation of Net Income for tax purposes under ITA 3(d)
d) Thier impact is greater for taxpayers with a higher marginal tax rate.
e) none of the above
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