What is another word for tax allowance?

Pronunciation: [tˈaks ɐlˈa͡ʊəns] (IPA)

Tax allowances are credits or deductions that reduce the amount of tax that individuals and companies pay to the government. There are several synonyms for tax allowance, including tax credit, tax relief, tax rebate, and tax deduction. Tax credits are given to taxpayers as a direct reduction in the amount of tax owed, while tax reliefs are exemptions from certain types of taxes. Tax rebates are refunds given to taxpayers who overpaid their taxes, while tax deductions are expenses that can be subtracted from the total taxable income. These synonyms are often used interchangeably, but they each have specific meanings and implications for taxpayers.

What are the hypernyms for Tax allowance?

A hypernym is a word with a broad meaning that encompasses more specific words called hyponyms.

Related words: tax free income, tax free allowance, tax free savings account, tax free income calculator, tax free income tax

Related questions:

  • What is the tax allowance in uk?
  • What are the tax allowances in uk?
  • How much is the tax allowance in uk?
  • What is the maximum tax allowance in uk?
  • What is the taxable allowance for calculating pension contributions in uk?
  • Word of the Day

    Fippenny bit
    "Fippenny bit" is a term used in British English to describe a small, old-fashioned coin worth two pennies. As "fippenny bit" is a relatively uncommon word, there are not many anto...