tax break

Cultural  

1. A special tax benefit given to promote specific economic or social objectives. For example, the U.S. government, having decided that individual home ownership is a boon to the economy, allows interest on a home mortgage to be subtracted, in whole or in part, from one's taxable income. The resulting lower taxation for homeowners constitutes a tax break.

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Example Sentences

If your sister purchases the house, she and your brother’s other heirs would also lose their step-up in basis, a tax break that lets people inherit assets without paying hefty capital-gains tax.

From MarketWatch

Cat Whitehouse, co-chief executive of the disability charity Transport for All, says the removal of the scheme's tax breaks will "leave our community facing hefty charges that will lock us out of society".

From BBC

Older workers earning more than $150,000 a year are about to lose a tax break on retirement savings.

From Barron's

There are questions over whether people would naturally put their money into stocks and shares Isas as a result of the less generous tax break on cash Isas.

From BBC

But there are questions over whether people would naturally put their money into stocks and shares Isas as a result of the less generous tax break on cash Isas.

From BBC