tax benefit


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Noun1.tax benefit - a tax deduction that is granted in order to encourage a particular type of commercial activity
deduction, tax deduction, tax write-off - a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket
References in periodicals archive ?
VULNERABLE people will be hit by changes to the council tax benefit system, say leading Middlesbrough councillors.
THOUSANDS of people could suffer a council tax benefit cut.
According to a document distributed among newsmen here by the Finance Ministry, the 51,032 salaried persons with income between Rs 350,000 to 400,000 will get tax benefit of Rs 354 million, while 6,300 taxpayers in the income group of Business Individuals with Rs 350,000 to Rs.
He was ordered to repay rent rebate of pounds 3,625 and council tax benefit of pounds 583.
If yes, the company must determine how much of the tax benefit is to be recognized in the financial statements, taking into account the facts and circumstances of each tax position; detection risk is not taken into account.
The GAAR permits the Minister of National Revenue (the Minister) to deny the tax benefit resulting from any transaction which is an "avoidance transaction" as defined in subsection 245(3) of the Act.
Timing: Timing is essential when strategizing to gain the maximum tax benefit from a charitable contribution.
TAX BENEFIT RECAPTURE FOR DONATED PROPERTY NOT USED FOR AN EXEMPT PURPOSE
A large tax benefit is now available immediately to buyers at The Capri Tower Residences, a midtown residential development being converted from rental to luxury condominiums.
Buoyed by a big income tax benefit, Los Angeles-based Gemstar-TV Guide International Inc.
Under the proposal, the tax benefit of an uncertain tax position would not be recognized unless it is "probable" that the tax position would be sustained upon examination by the tax authority.