👉 Residuary is a term that refers to a special type of tax in many countries, specifically in jurisdictions with a system of income taxation known as a personal income tax. The term "residuary" comes from the Latin word "residiens," which means "resident." In this context, "residuary" refers to a tax imposed on individuals or entities that are not subject to the same tax as their non-resident counterparts. Residuary taxes are usually levied on individuals
