PBR 2008: Government abandons income shifting legislation - for now

The government has announced it is not to proceed with the income shifting legislation for now. The Government says it firmly believes it is unfair to allow a minority of individuals to benefit financially from shifting part of their income to someone else who is subject to a lower rate of tax - known as income shifting, but given the current economic challenges is deferring action on income shifting and will not bring forward legislation at Finance Bill 2009.

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