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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References in periodicals archive ?
Is he now going to apologise for not stopping higher rate taxpayers from benefiting from the personal tax allowance uplift?
Debate on the future of universal benefits rages across the home nations; RHODRI MORGAN Mr Wales writes exclusively for the Western Mail
There is speculation that in the Budget on March 21 the Chancellor will withdraw the higher rate tax allowance for pensions, or reduce the contribution limits.
It's high time to get tax efficient; Savers are under pressure with interest rates unlikely to be lifted from their record low for a long while yet. Ian Lowes gives advice on how to make your investments more efficient
With the granny tax, it means not up-rating with inflation, the personal tax allowance for pensioners.
Simplifying the system means the tax goes up
"People may also have noticed that fuel costs have dramatically increased over and above any rise in the tax allowance rate.
Link car tax fuel allowance 'to reality
Q My wife and I got the marriage tax allowance. She's a nontaxpayer, but now has a tax demand because her private pension takes her above her reduced allowance.
Tax is better together
He said: "With the personal tax allowance rising towards pounds 10,000, this is the right time to be aligning those allowances."
Alexander backs OAP tax assault
The furore last night threatened to overshadow the Chancellor's announcement that "millions" of people will be pounds 220 better off every year as a result of the increase in the personal tax allowance to pounds 9,205, changes to child benefit cuts so that only families with someone earning pounds 60,000-plus will see the payments disappear, and a lowering of corporation tax to 22% in 2014.
Fury at Osborne's pounds 3bn 'granny tax' on pensioners as rate is cut for wealthiest; PEOPLE TURNING 65 NEXT YEAR TO LOSE pounds 322, CLAIMS LABOUR
LANDLORDS are being reminded that energyefficient properties can benefit them financially through a new Government tax allowance. Carolyn Milburn, associate partner at George F White estate agents, said: "With energy costs rapidly spiralling, landlords should remember that their bank balances can benefit if they act now to make their properties more environmentally-friendly."
Tax breaks for green landlords
VAT rise pounds 13.5bn Bank levy pounds 2.4bn Spending cuts pounds 31.9bn Benefit cuts pounds 5.8bn Disability allowance cut pounds 1bn Housing benefit cut pounds 1.76bn Tax credit cut pounds 3.2bn Child benefit freeze pounds 0.98bn Pension/earning link -pounds 0.5bn Corp tax cut -pounds 2.7bn Inc tax allowance rise -pounds 3.9bn Total pounds 40.2bn
THE PAIN
Our tax allowance is the same as people in paid employment!
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