- Tax Relief
- Any program or incentive that reduces the amount of tax owed by an individual or business entity. Examples of tax relief include the allowable deduction for pension contributions, and temporary incentives such as tax credits for the purchase of new high-efficiency heating and cooling equipment.
Tax relief is intended to reduce the tax liability of an individual or business entity. Often, the tax relief is targeted at providing aid for a certain event or cause. For example, hurricane victims may be allotted some form of tax relief when a hard-hit area is declared a disaster area. Tax relief is also available periodically to support environmental causes, as seen with tax credits for the purchase of energy-efficient appliances or the installation of energy-efficient windows.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
tax relief — ➔ relief * * * tax relief UK US noun [U] TAX, FINANCE, ACCOUNTING ► a reduction in the amount of tax that has to be paid: tax relief on sth »Companies can claim tax relief on donations to charity. qualify/be eligible for tax relief »Investors are … Financial and business terms
tax relief — noun The cancelling of part of the income tax due • • • Main Entry: ↑tax * * * tax relief UK US noun [uncountable] a reduction in tax that you are allowed for a particular reason Thesaurus: relating to tax and taxationhyponym * * * ˈtax relief … Useful english dictionary
tax relief — tax re.lief n [U] BrE when you do not have to pay tax on part of what you earn, especially because you use the money for a particular purpose tax relief on ▪ You can get tax relief on private health insurance premiums … Dictionary of contemporary English
tax relief — N UNCOUNT Tax relief is a reduction in the amount of tax that a person or company has to pay, for example because of expenses associated with their business or property. ...mortgage interest tax relief … English dictionary
tax relief — mokesčio lengvata statusas Aprobuotas sritis mokesčiai apibrėžtis Mokesčio mokėtojui ar jų grupei mokesčio įstatymo nustatytos išskirtinės apmokestinimo sąlygos, kurios yra palankesnės, palyginti su įprastinėmis sąlygomis. atitikmenys: angl. tax… … Lithuanian dictionary (lietuvių žodynas)
tax relief — tax re,lief noun uncount a reduction in tax that you are allowed for a particular reason … Usage of the words and phrases in modern English
tax relief — A deduction from a taxable amount, usually given by statute. In the UK, income tax reliefs are given in respect of income from tax exempt sources (e.g. ISAs), as well as tax deductible expenses, personal allowances, tax credits, and gift aid. See … Accounting dictionary
tax relief — A deduction from a taxable amount, usually given by statute. In the UK, income tax reliefs are given in respect of income from tax exempt sources (e. g. ISAs), as well as tax deductible expenses, personal allowances, tax credits, and gift aid See … Big dictionary of business and management
tax relief — noun (U) BrE the right to not have to pay tax on part of what you earn … Longman dictionary of contemporary English
tax relief — UK / US noun [uncountable] a reduction in tax that you are allowed for a particular reason … English dictionary