Meaning of “tax allowance” in the English Dictionary

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"tax allowance" in Business English

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tax allowancenoun [ C ]

uk us UK US tax exemption TAX

an amount of money that can be taken off someone's income and savings, or a company's profits before the tax owed is calculated:

The married couple's tax allowance was withdrawn in the 1990s.

(Definition of “tax allowance” from the Cambridge Business English Dictionary © Cambridge University Press)