Definition of tax allowance in English:

tax allowance

noun

  • 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.’
    • ‘There is no point getting a large tax allowance if you do not have the income to use it.’
    • ‘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.’