Income_tax_threshold

Income tax threshold

Income tax threshold

Income level at which a person begins paying income taxes

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 €9,408 in 2020.[3]
  • 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$11,809 in 2018.[4]
  • Tax-free threshold in Australia, which was A$18,200 in 2023–24.[5][6]
  • Tax-free threshold in Greece, which was €9,545 in 2016.[7]
  • Tax-free threshold in Poland is 30000 PLN in 2022. [8]

See also

References

  1. [1]
    "Poverty and Income Tax Entry Threshold". www.taxpolicycenter.org. Archived from the original on 2011-09-26.
  2. [2]
    Information about Personal Allowance on gov.uk
  3. [3]
    Information on Basic Tax Allowance on make-it-in-germany.com
  4. [4]
    Agency, Government of Canada, Canada Revenue (23 January 2004). "2018 indexation adjustment for personal income tax and benefit amounts". www.cra-arc.gc.ca.{{cite web}}: CS1 maint: multiple names: authors list (link)
  5. [5]
    What is the tax-free threshold? Archived 2012-07-01 at the Wayback Machine
  6. [6]
    "Individual income tax rates". ato.gov.au. Archived from the original on 2011-06-29. Retrieved 2012-04-20.
  7. [7]
    "Tax-free threshold could be scrapped".
  8. [8]
    "Kwota wolna od podatku PIT 2022 | e-pity".
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