What is Tax Allowances in Native Teams?

The tax allowance tool developed by Native Teams will assist you in both comprehending and following the current tax laws and regulations and gaining the greatest possible tax savings. This function is crafted to empower users with a selection of tax allowances or benefits that are not subject to taxation!

In-app view of the tax allowances:

A tax allowance is an amount of money you can earn or spend without paying any tax on it. Every citizen is entitled to a "personal allowance," or the amount of money they can make or spend before having to pay taxes.

The primary function of these tax allowances is to strategically reduce your taxable income, allowing you to retain a larger portion of your annual earnings. You only have to pay income tax on the amount of your income over your tax exemptions.

Any questions? Feel free to contact support at support@nteams.com.