Income tax threshold

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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 was €8,004 in 2012.
  • Income tax threshold in France, which was €6,088 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$10,822 in 2012.[3]
  • Tax-free threshold in Australia, which was A$18,200 in 2012-13.[4][5]
  • Tax-free threshold in Greece, which was €9,545 in 2016.[6]
  • Tax-free threshold in Poland is 6600 PLN in 2018. Above 6600 PLN the tax-free becomes "tax-reduction" and decreases progressively [7]

See also[edit]

References[edit]

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