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tax allowance

Line breaks: tax al¦low|ance

Definition of tax allowance in English:

noun

A sum to be deducted from gross income in the calculation of taxable income.
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:

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