Income tax threshold
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| An aspect of fiscal policy |
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.
- Sum of the standard deduction and personal exemption in the US, which was $9,750 in 2012 for a single person.[5]
- Basic personal amount in Canada, which was C$10,822 in 2012.[6]
- Tax-free threshold in Australia, which was A$18,200 in 2012-13.[7][8]
- Tax-free threshold in Greece, which was €9,545 in 2016.[9]
- Tax-free threshold in Poland, which was €736 in 2013 (equivalent to $1,007). [10]
- Minimum wage in Israel, which is ₪4,825/month (but from December 2017 will be ₪5,300/month). [11]
See also
References
- ^ http://www.taxpolicycenter.org/publications/url.cfm?ID=1001555
- ^ Personal Allowance
- ^ Personal tax allowance to rise to £9,440
- ^ Income tax threshold set to rise
- ^ "Low Income/Simple Living as War Tax Resistance". NWTRCC.
- ^ Indexation adjustment for personal income tax and benefit amounts
- ^ What is the tax-free threshold?
- ^ Individual income tax rates
- ^ "Tax-free threshold could be scrapped".
- ^ "Kwota wolna od podatku w 2013 r."
- ^ "Cabinet OK's 2017 minimum wage increase". JPost. The Jerusalem Post. Retrieved 28 November 2016.