Definition of tax allowance in English:
A sum to be deducted from gross income in the calculation of taxable income.
- 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:
- US English dictionary
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.
Most popular in the US
Most popular in the UK
Most popular in Australia
Most popular in India
Most popular in Pakistan