Income Tax Threshold
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Income Tax Threshold

The income tax threshold is the income level at which a person begins paying income taxes.[1] The income tax threshold equates to the:

  • Personal allowance in the UK, which is £12,500 for 2019/20.[2]
  • Basic allowance in Germany, which is EUR9,408 in 2020.[3]
  • Income tax threshold in France, which was EUR6,088 in 2012.
  • The standard deduction 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.[4]
  • Tax-free threshold in Australia, which was A$18,200 in 2012-13.[5][6]
  • Tax-free threshold in Greece, which was EUR9,545 in 2016.[7]
  • Tax-free threshold in Poland is 3091 PLN in 2018. Above 3091 PLN the tax-free becomes "tax-reduction" and decreases progressively [8]

See also

References

  1. ^ http://www.taxpolicycenter.org/publications/url.cfm?ID=1001555
  2. ^ Information about Personal Allowance on gov.uk
  3. ^ Information on Basic Tax Allowance on make-it-in-germany.com
  4. ^ Agency, Government of Canada, Canada Revenue. "2018 indexation adjustment for personal income tax and benefit amounts". www.cra-arc.gc.ca.
  5. ^ What is the tax-free threshold? Archived 2012-07-01 at the Wayback Machine
  6. ^ "Individual income tax rates". ato.gov.au. Archived from the original on 2011-06-29. Retrieved .
  7. ^ "Tax-free threshold could be scrapped".
  8. ^ Studio, Kemu. "CALCULLA - PL: Table of tax-free amounts". calculla.com.

  This article uses material from the Wikipedia page available here. It is released under the Creative Commons Attribution-Share-Alike License 3.0.

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