A sum to be deducted from gross income in the calculation of taxable income.
More example sentences
- The personal tax allowance which determines the income tax-paying threshold thus also provides a practical definition of such an official poverty line.
- Those who spend long periods working abroad should also take advantage of a special tax allowance for overseas income.
- There is no point getting a large tax allowance if you do not have the income to use it.
Definition of tax allowance in:
- The British & World English dictionary