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The income tax threshold is the income level at which a person begins paying
income taxes An income tax is a tax A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity In law, a legal person is any person A person (plural people or persons) is a being that has c ...
. The income tax threshold equates to the: *
Personal allowance In the UK tax system, personal allowance is the threshold above which income tax An income tax is a tax A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity In law ...
in the UK, which is £12,500 for 2019/20. *Basic allowance in Germany, which is €9,408 in 2020. *Income tax threshold in France, which was €6,088 in 2012. *The
standard deduction Under United States tax law The United States of America The United States of America (USA), commonly known as the United States (U.S. or US), or America, is a country Contiguous United States, primarily located in North America. It con ...
in the US, which was $12,000 in 2018 for a single person. *Basic personal amount in Canada, which was C$11,809 in 2018. *Tax-free threshold in Australia, which was A$18,200 in 2012-13. *Tax-free threshold in Greece, which was €9,545 in 2016. *Tax-free threshold in Poland is 8000 PLN in 2021. Above 8000 PLN the tax-free becomes "tax-reduction" and decreases progressively


See also

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Basic income guarantee Universal basic income (UBI), also called unconditional basic income, basic income, citizen's income, citizen's basic income, basic income guarantee, basic living stipend, guaranteed annual income, universal income security program or universal ...
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Tax bracket Tax brackets are the divisions at which tax rates change in a progressive tax system (or an explicitly regressive tax system, though that is rarer). Essentially, tax brackets are the cutoff values for taxable income—income past a certain point ...
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Taxable income Taxable income refers to the base upon which an income tax system imposes tax. In other words, the income over which the government imposed tax. Generally, it includes some or all items of income and is reduced by expenses and other deductions. Th ...


References

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