Definition, Meaning & Synonyms
tax-break
noun
/tæks breɪk/
Definition
A tax-break is a reduction in the amount of tax that a taxpayer is required to pay.
Examples
- Many families hope to qualify for a tax-break when filing their returns.
- Investors were pleased to see the tax-break implemented for renewable energy projects.
Meaning
Tax-breaks are incentives provided by the government to encourage certain behaviors, such as investing in new businesses or purchasing a home.
Synonyms
- tax reduction
- tax relief
- tax incentive
