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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.


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When challenged by me, he defended his claims by arguing that rises in personal tax allowances need to be taken into account (Voice of the North, December 11).
The current personal tax allowance in 2008-09 is pounds 6,035 for everyone under 65.
Raising pensioners' fuel allowance is also odds-on to be mentioned in the report at 1-10, followed by more generous tax allowances at a well-fancied 1-5.
 
 
 
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