Definition of untaxed in English:
1Not subject to taxation.
- Social Security benefits are untaxed for relatively low-income beneficiaries but 85% taxable for higher-income recipients.
- Items which could reduce your tax free allowance are any untaxed interest, benefits in kind or any freelance earnings.
- It is true that a partial excise can be shifted forward in this way, in the long run, by resources leaving, let us say, the liquor industry and shifting into other untaxed industries.
2(Of an item, income, etc.) not having had the required tax paid on it.
- About 1.5 million people in the region - mainly high earners and those who receive untaxed income - are required to submit self-assessment returns.
- It also remained unclear what sanctions would be applied to those who ignored the government's call to declare untaxed income.
- The system works well when income remains constant throughout the whole tax year and when there is no untaxed income from other sources.
Definition of untaxed in:
- British & World 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.