An amount from total income that a taxpayer can claim for himself or any eligible dependants. Exemptions reduce a person’s taxable income. Exemptions can be personal or dependency exemptions and the amount is fixed each year.!-- google_ad_client = "pub-0690419777184136"; google_alternate_ad_url = "http://www.e-legality.org/alt_ad.html"; google_ad_width = 336; google_ad_height = 280; google_ad_format = "336x280_as"; google_ad_channel ="7216315858"; google_ad_type = "text"; google_color_border = "FFFFFF"; google_color_bg = "FFFFFF"; google_color_link = "000099"; google_color_url = "660000"; google_color_text = "000000";

An amount allowed by the tax law as a reduction of otherwise taxable income. The two types of exemptions are “personal” and “dependency.

a deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.); "additional exemptions are allowed for each dependent"

a different deduction than the Standard Deduction calculated above

a dollar amount that can be deducted from an individual's total income, thereby reducing the taxable income

an amount deducted from the assessed value of the property

an amount of money you can subtract from your Adjusted Gross Income, just for being you or having dependents

a set dollar deduction given in the tax tables

a specific amount that can be subtracted from your taxable income

a way for you to deduction an additional amount of money from your gross income, lowering your taxable income and, thereby, lowering the tax you owe

Amount that taxpayers can claim for themselves, their spouses, and eligible dependents. There are two types of exemptions-personal and dependency. Each exemption reduces the income subject to tax. The exemption amount is a set amount that changes from year to year.

A deduction from the taxable assessed value of property as prescribed by law, generally based on the property's use.

A personal allowance used as a subtraction from taxable income. For tax year 2005, it is $3,200.

A tax relief provision under Massachusetts Law for certain qualifying taxpayers: elderly persons, blind persons, disabled veterans, surviving spouse or orphaned minor child, widow or orphaned minor child of a police officer or firefighter, and extreme hardship.

A deduction amount that reduces your tax. You are generally allowed one exemption for yourself and, if you are married, one exemption for your spouse (personal exemptions), and one exemption for each person you claim as a dependent (exemptions for dependents).

An amount that reduces the income that is subject to tax. You are generally allowed one exemption for yourself and, if you are married, one exemption for your spouse (personal exemptions). You are also allowed one exemption for each person you claim as a dependent (dependent exemptions).

An amount ($2,650 for 1997) that can be subtracted from income in figuring how much income will be taxed. Exemptions generally are allowed for the taxpayer, the taxpayer's spouse, and qualifying dependents.

n. 1) in income taxation, a credit given for each dependent, blindness or other disability, and age over 65, which result in a downward calculation in tax levels. These are not to be confused with deductions, which reduce gross income upon which taxes are paid. 2) a right to be excluded from, such as not being subject to attachment of one's wages if one is in a low-income bracket, or not being subject to the military draft if one is employed in essential industry, has several children or is a college student.

An amount ($2,750 for 1999) allowed by law as a reduction of income that would otherwise be taxed. There are two kinds of exemptions: personal and dependency.

An amount provided by law that reduces taxable . income or taxable value.

A personal or dependency deduction amount allowed by law as a reduction that would otherwise be taxed.

Amount of a taxpayer's income that is not subject to tax. All individuals, TRUSTS, and estates qualify for an exemption unless they are claimed as a dependent on another individual's tax return. Exemptions also are granted to taxpayers for their dependents.

a decision made by a member of the academic staff that you may not take a particular unit at Macquarie University because you have studied and passed a similar unit at another institution

a waiver of a requirement

The waiving of a requirement; a student may be excused from completing a course or program requirement if approval is granted by the appropriate institutional representative; usually exemptions are only granted to students who have proven that they have comparable learning; although an exemption may be granted, the student may be required to replace the exempted course with an alternate.

a term used when a student has demonstrated to the satisfaction of the relevant Faculty, School or Course Coordinator, that the student has previously gained competence in the subject matter of a particular UNE unit, so that the student is not required to complete that unit.

Holders of an approved diploma or degree are awarded a block amount of credit. Within that diploma or degree, the student may have an equivalent course that is required within his or her current program. This course will be awarded an "exemption," and the student must replace the exemption with a course of the same or higher level, in the same area of study or same discipline, to fulfill the program requirement.

Students can be exempted from a requirement of a programme. Credit units are not earned for an exemption from a course.

Exemption is the result of a successful Recognition application. The student is formally acknowledged to have prior achievement of the module/unit of competency outcomes and thus is not required to complete a particular module or unit of competency. Exemption in TAFE NSW is granted in the following four instances: · a student has completed modules/units of competency in TAFE NSW which lead to a TAFE exemption · a student has completed study with other providers for which arrangements are in place with TAFE NSW · a student has met the outcomes of TAFE NSW modules/units of competency as a result of previous study, work or life experience · a student has an appropriate qualification or part-qualification from another Registered Training Organisation.

When you are given credit for previous academic study you have completed. If you are given an exemption for a particular subject, then you do not have to complete it at UTS. There are limits, however, set out in the University rules and policies. Exemption is also called 'advanced standing'. Faculty A faculty is an academic unit dedicated to teaching, research and scholarship in a range of related disciplines. A faculty often contains a number of different departments and schools in related disciplines. For example, the UTS Faculty of Science includes the Department of Applied Physics, the Department of Molecular and Cell Biology, the Department of Health Sciences, as well as other related departments.

Permission to leave a particular requirement out of a course.^ Faculty A decision-making body for academic matters affecting a group of Departments or a specialist School.

The acknowledgement of prior achievement by the granting of recognition in a module, subject or unit of competency. This means that students’ are not required to complete that particular module, subject or unit of competency in their course enrolment.

is where a student, under specified conditions, is not required to undertake a compulsory part of a programme.

A student may be exempted from a course requirement based upon evidence of equivalent attainment for other than transfer credit. An Advanced Standing Request form must be submitted, along with all the relevant documentation as indicated in the Academic Procedures Manual, for approval by the System Registrar. (Advanced Standing Request forms are available in the College Academic or Student Services Office.)

This term is used when previous education, training or experience provides exemption from prerequisites and certain specific requirements. No credit hours are attached. Students may be required to take another course in lieu of the one(s) for which they are given exemption.

A course requirement that is fulfilled by passing an exam in the subject.

A required core subject that a student is exempt from undertaking. The subject must be replaced with an alternative subject. An exemption does not reduce the overall number of subjects required for the program. Exemption should be granted for relevant experience rather than formal study.

Exemption is release from specified parts of a course. It may be exemption from lectures, practicals, tutorials, projects or any other component of a course including elements of assessment.

an interest of the debtor carved out of the bankruptcy estate for the benefit of the debtor and thereby shielded from creditors' claims

A state or federal law which allows a debtor to retain certain property from a trustee or creditor so that a debtor is left with the basic necessities of life.

Privilege allowed by law to a judgment debtor that they may hold certain property from all liability to being seized or sold on execution or by any other court order.

A ruling over certain assets of a debtor that says they are not subject to repossession or liquidation in a bankruptcy case, for example, a car that is necessary for the debtor to get to a place of employment. up

A reduction to the assessed value of property, the most common being homestead exemption.

Assets that cannot be touched by creditors during bankruptcy proceedings.

property that the bankruptcy code or applicable state law permits a debtor to keep from creditors.

immunity from an obligation or duty

A geographic area that is not subject to the prohibitions in the alternatives.

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An immunity from some burden or obligation.

a temporary regulatory relief from one of more of the FMCSRs given to a person or class of persons subject to the regulations, or who intend to engage in an activity that would make them subject to the regulation

An exception to a statute or regulation.------------------------- Home | | Bottom

Fields of application where a Treaty, Regulation or Directive does not apply.

a matter of legislative grace, a favor granted by which, in the case of sales tax, a transaction that would otherwise be subject to tax, is carved out from the tax

a release from the obligation of having to pay taxes on all or part of a parcel of real property

Relief from a certain amount or proportion of tax liability granted to a property owner upon approval of an application.

The removal of property from the tax base. An exemption may be partial or complete.

An exemption from an obligation to pay the tax — for example, as provided for under an NGA.