A sum to be deducted from gross income in the calculation of taxable income.
Example sentencesExamples
Meanwhile, the government has been attempting to appease the protestors by extending its proposed tax allowance on fuel and is also preparing to help pensioners with their heating oil bills.
Those who spend long periods working abroad should also take advantage of a special tax allowance for overseas income.
It is little wonder the Conservatives have proposed, among alternative pension reforms, a catch-all rise in the tax allowance given to elderly people.
The personal tax allowance which determines the income tax-paying threshold thus also provides a practical definition of such an official poverty line.
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:
tax allowance
noun
A sum to be deducted from gross income in the calculation of taxable income.
Example sentencesExamples
The personal tax allowance which determines the income tax-paying threshold thus also provides a practical definition of such an official poverty line.
Meanwhile, the government has been attempting to appease the protestors by extending its proposed tax allowance on fuel and is also preparing to help pensioners with their heating oil bills.
Those who spend long periods working abroad should also take advantage of a special tax allowance for overseas income.
It is little wonder the Conservatives have proposed, among alternative pension reforms, a catch-all rise in the tax allowance given to elderly people.
There is no point getting a large tax allowance if you do not have the income to use it.