Deduction (food stamps) — For the food stamp program, Deductions are used to calculate a household’s monthly food stamp benefit. This calculation is done by subtracting a series of dollar deductions from the household’s total cash monthly income, so as to better reflect… … Wikipedia
deduction — de·duc·tion n 1: an amount allowed by tax laws to be subtracted from income in order to decrease the amount of income tax due see also internal revenue code in the important laws section compare credit, ex … Law dictionary
Income taxes in Canada — constitute the majority of the annual revenues of the Government of Canada, and of the governments of the Provinces of Canada. In the last fiscal year, the government collected roughly three times more personal income taxes than it did corporate… … Wikipedia
income tax deduction — ➔ deduction * * * income tax deduction UK US noun [C or U] ► TAX an amount of money, such as the cost of something that you need to do your work, that the tax authorities allow you to subtract from your income before you calculate your tax… … Financial and business terms
Deduction — may refer to: in logic: Deductive reasoning, inference in which the conclusion is of no greater generality than the premises Natural deduction, an approach to proof theory that attempts to provide a formal model of logical reasoning as it… … Wikipedia
Deduction — De*duc tion, n. [L. deductio: cf. F. d[ e]duction.] 1. Act or process of deducing or inferring. [1913 Webster] The deduction of one language from another. Johnson. [1913 Webster] This process, by which from two statements we deduce a third, is… … The Collaborative International Dictionary of English
deduction — 1 Deduction, abatement, rebate, discount are comparable when they mean an amount subtracted from a gross sum. Deduction is interchangeable with any of the others but not without some loss in precision. An abatement is a deduction from a levied… … New Dictionary of Synonyms
Income Tax Assessment Act 1936 — is an act of the Parliament of Australia. It s one of the main statutes under which income tax is calculated. The act is gradually being rewritten into the Income Tax Assessment Act 1997, and new matters are generally now added to the 1997… … Wikipedia
deduction of tax at source — the process whereby the payer of, e.g. interest, deducts income tax at the basic rate from the payment and accounts for it to the Inland Revenue. It can be compared with the system of Pay As You Earn (PAY E), whereby employers are required to… … Law dictionary
deduction, itemized — n. Expenses individually listed and deducted from gross income. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008 … Law dictionary
deduction, standard — n. A standard amount that a taxpayer may deduct from gross income instead of itemizing individual expenses. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008 … Law dictionary
