an amount of money that can be taken off someones income and savings, or a companys profits before the tax owed is calculated:
Exemption
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The act of exempting; the state of being exempt; freedom fromany charge, burden, evil, etc., to which others are subject;immunity; privilege; as, exemption of certain articles from seizure;exemption from military service; exemption from anxiety, suffering,etc.
Exemption meaning & definition 1 of Exemption.
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Freedom from an obligation: Permission or entitlement not to do something that others are obliged to do.
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Exempt person or thing: Somebody who or something that is exempt, e.g. income that is not taxed.
Exemption meaning & definition 2 of Exemption.
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The action of freeing or state of being free from an obligation or liability imposed on others.
Exemption meaning & definition 3 of Exemption.
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The process of freeing or state of being free from an obligation or liability imposed on others.
Exemption meaning & definition 4 of Exemption.
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