Crown loan

Tax. An interest-free demand loan, usu. from parent to child, in which the borrowed funds are invested and the income from the investment is taxed at the child’s rate.

• This type of loan is named for one Harry Crown of Chicago, reputedly one of the first persons to use it. See kiddie tax under TAX.

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词条贡献者

法律翻译Gwen，毕业于新加坡知名法学院，专注翻译各类与劳工、雇佣及移民有关的法律文件。