tax credit


tax credit
/ˈtæks krɛdət/ (say 'taks kreduht)

noun
a credit received by a taxpayer in relation to certain items of expenditure or income, and deducted directly from income tax otherwise payable.

Australian English dictionary. 2014.

Look at other dictionaries:

  • tax credit — n: an amount that may be subtracted from the sum of tax otherwise due and that is distinguished from a deduction applied to gross income in the calculation of taxable income compare exemption Merriam Webster’s Dictionary of Law. Merriam Webster.… …   Law dictionary

  • Tax-Credit —   [tæks kredɪt, englisch], ein Abzug von der Steuerschuld, durch den entweder individuellen Verhältnissen Rechnung getragen beziehungsweise spezielle Steuervergünstigungen gewährt werden sollen oder andere Steuern zur Vermeidung einer… …   Universal-Lexikon

  • tax credit — tax credits N COUNT A tax credit is an amount of money on which you do not have to pay tax. The president proposed to provide tax credits to businesses that allow workers time off …   English dictionary

  • Tax credit — The term tax credit describes two different concepts:*The first is a recognition of partial payment already made towards taxes due. *The second is a state benefit paid to employees through the tax system, which has the effect of increasing… …   Wikipedia

  • tax credit — A direct dollar for dollar reduction in tax allowed for expenses such as child care and R&D for building low income housing. Compare tax deduction. Bloomberg Financial Dictionary Additional amount on dividends paid by a company resident in France …   Financial and business terms

  • tax credit — 1) The tax allowance associated with the dividend paid by a company. The shareholder is given allowance for the tax paid at source by the tax credit, at the same rate, 10/90; i.e. a dividend of £90 received by the shareholder had an associated… …   Accounting dictionary

  • tax credit — 1) The tax allowance associated with the dividend paid by a company. The shareholder is given allowance for the tax paid at source by the tax credit, at the same rate, 10 90; i. e. a dividend of £90 received by the shareholder has an associated… …   Big dictionary of business and management

  • tax credit — An amount subtracted from an individual s or entity s tax liability to arrive at the total tax liability. A tax credit reduces the taxpayer s liability dollar for dollar, compared to a deduction which reduces taxable income upon which the tax… …   Black's law dictionary

  • Tax Credit — An amount of money that a taxpayer is able to subtract from the amount of tax that they owe to the government. The value of a tax credit depends on what the credit is being provided for, and certain types of tax credits are granted to individuals …   Investment dictionary

  • tax credit — A credit against income tax itself, as distinguished from a deduction which applies only to reduce the income. The sum owing a taxpayer for overpayment. Internal Revenue Code § 6402(a) …   Ballentine's law dictionary


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