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Thread: Corporate Tax Cut

  1. #1
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    Corporate Tax Cut


    We have a small animation, visual-effects and game development company (Closed Corporations - three partners, 1/3 each). The turnover is around 800K now and the overhead/operating costs are very low.

    I have read and heard alot about tax cuts/break, but I'm not sure how. The company is doing well and we will likely to have some profit to be shared at the end of this business year.

    I believe we will have to pay 28% corporate tax on profits and then again 10% secondary tax on dividends declared. I'm looking at the most tax efficient way to take the money out of company.

    Are there any existing secrets on cutting the taxes? Keeping fuel slips? Spending more money on entertainment? Buying company car?


  2. #2
    Junior Member taxlibrary's Avatar
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    Dec 2008
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    hi Anakin

    You can deduct all expenses that are "in the production of" the CC's taxable income and not of a capital nature.

    One thing that you can look at is the tax relief for research and development:

    Last edited by taxlibrary; 31-Jul-09 at 11:30 PM.

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