Tax Allowance


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Tax Allowance

Income that is not taxed. For example, a government may not subject the first $10,000 of earnings to an income tax or the first $20,000 in investment income to a capital gains tax.
References in periodicals archive ?
It means that if one partner earns less than their new annual tax allowance of PS10,600 (from pensions, savings and investments) they can pass on a share of that allowance.
The Transferable Tax Allowance will, on making a claim to HMRC, enable spouses and civil partners to transfer PS1,060 of their personal allowance to the other partner, giving rise to a tax saving of up to PS212 where one person does not use all of their personal allowance.
In most cases, tax allowances end with the tax year: making the best use of them while they are available can mean a big difference to the eventual returns from your savings and investments.
The reality is that there are significantly more people in work in Cardiff than on benefits and the rise in the personal tax allowance will put more money in people's pockets to spend in Cardiff.
The Conservatives promised a transferable tax allowance to married couples in their 2010 manifesto.
If you have made any capital gains on investments you should consider using your capital gains tax allowance.
THE National Association of Stable Staff has delivered a tepid response to the budget and argued that the increase in personal income tax allowance will do little to help members recoup the diminished value of their earnings, writes Lee Mottershead.
Hidayat said the government will offer tax holiday or tax allowance if the project is implemented as scheduled.
For industry players in these promoted industries, the incentives include investment tax allowance or exemption on statutory income from export sales.
FERC opinion, including the level of income tax allowance SFPP is entitled to include in its interstate rates (Docket No.
Although the proposed 2003 update to the state and other tax allowance did not take effect, shortly before we issued our report--on December 23, 2004--Education updated the state and other tax allowance for award year 2005-2006 on the basis of information compiled by SOI for tax year 2002, which was collected in the same manner as the tax year 2000 data.
But since colleagues and I only get a tax allowance of pounds 6,100, which figure is right?