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Income Tax Rate
The percentage at which an individual or corporation is taxed on their income.
Deferred Tax Asset
A financial statement item that represents an entity's right to reduce future tax payments due to temporary differences or certain carryover losses.
Deferred Tax Liability
A tax obligation recognized in the financial statements representing taxes that are owed but not yet paid.
Long Service Leave
A paid absence after the employee has provided a long period of continuous employment.
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