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 ?
The increase in net income was a result of higher operating results and a one-time, non-cash tax benefit recognized in the quarter.
If taxes were greater than originally recognized, an excess tax benefit or a windfall was recognized; otherwise, a tax deficiency or shortfall was recorded.
Alexander Salem narrowly avoided a prison sentence after admitting five counts of benefit fraud relating to false claims for jobseeker's allowance, council tax benefit and housing benefit.
If the more-likely-than-not (MLTN) standard is not met, no tax benefit can be claimed.
Until today there were 42,729 households in Kirklees receiving financial support through the Council Tax Benefit scheme - 17,681 of pension age and 25,048 working age.
As a result, they assert that a taxpayer in the 35% tax bracket receives 3.5 times as much tax benefit from deferring $1 in income than would a taxpayer in the 10% bracket.
VULNERABLE people will be hit by changes to the council tax benefit system, say leading Middlesbrough councillors.
HOUSEHOLDERS likely to be affected by the forthcoming changes to Council Tax benefit are being offered advice and information by their local councils.
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.400,000 will get relief of Rs.145 million.
Brittain's claim for housing and council tax benefit came under suspicion when electronic data comparisons between Government departments alerted the council that details were suspect, the court was told.
He was ordered to repay rent rebate of pounds 3,625 and council tax benefit of pounds 583.
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.