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 was £9,440 in 2013-14 and £10,000 in 2014-15, the highest in the G7.[2][3][4]
  • 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.[5]
  • Tax-free threshold in Australia, which was A$18,200 in 2012-13.[6][7]
  • Tax-free threshold in Greece, which was €9,545 in 2016.[8]
  • Tax-free threshold in Poland is 6600 PLN in 2018. Above 6600 PLN the tax-free becomes "tax-reduction" and decreases progressively [9]

See also[edit]

References[edit]

  1. ^ http://www.taxpolicycenter.org/publications/url.cfm?ID=1001555
  2. ^ "Income Tax rates and Personal Allowances". hmrc.gov.uk.
  3. ^ Jones, Rupert (5 December 2012). "Personal tax allowance to rise to £9,440". the Guardian.
  4. ^ "Income tax threshold set to rise". 5 April 2014 – via www.bbc.co.uk.
  5. ^ Agency, Government of Canada, Canada Revenue. "2012 indexation adjustment for personal income tax and benefit amounts". www.cra-arc.gc.ca.
  6. ^ What is the tax-free threshold? Archived 2012-07-01 at the Wayback Machine.
  7. ^ "Individual income tax rates". ato.gov.au.
  8. ^ "Tax-free threshold could be scrapped".
  9. ^ Studio, Kemu. "CALCULLA - PL: Table of tax-free amounts". calculla.com.