ANNUAL ALLOWANCE Meaning and
Definition
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The term "annual allowance" refers to a specific amount of money or budget allocation that is set aside for a particular purpose and is made available on a yearly basis. Typically, an annual allowance is predetermined and budgeted for in order to ensure efficient financial planning and control.
An annual allowance can have various applications across different contexts. In personal finance, it often refers to a specific sum of money that an individual is permitted to spend or save within a calendar year. This type of allowance can be used for various purposes such as personal expenses, vacation expenses, or investments.
In business or organizational settings, an annual allowance commonly refers to the budget allotted for certain expenses or activities that occur on an annual basis. This can include areas such as employee bonuses, equipment upgrades, research and development, marketing campaigns, or any other specific area that requires regular funding.
Moreover, an annual allowance can also have a legal context. For instance, it may refer to the amount that an individual can gift to another person without incurring a gift tax. In some jurisdictions, governments provide tax exemptions on a yearly basis, allowing individuals to gift a specified amount without any tax implications.
In summary, an annual allowance is a fixed amount of money or budget allocation that is available on an annual basis for various purposes, be it personal finance, organizational expenses, or legal gifting limits.
Common Misspellings for ANNUAL ALLOWANCE
- znnual allowance
- snnual allowance
- wnnual allowance
- qnnual allowance
- abnual allowance
- amnual allowance
- ajnual allowance
- ahnual allowance
- anbual allowance
- anmual allowance
- anjual allowance
- anhual allowance
- annyal allowance
- annhal allowance
- annjal allowance
- annial allowance
- ann8al allowance
- ann7al allowance
- annuzl allowance
- annusl allowance
Etymology of ANNUAL ALLOWANCE
The etymology of the word "annual allowance" can be broken down as follows:
1. Annual: The word "annual" is derived from the Latin word "annuus", which means "yearly" or "pertaining to a year". It stems from the Latin noun "annus", meaning "year". Over time, the word entered Middle English as "annuel" and eventually transformed into its current form.
2. Allowance: The word "allowance" comes from the Old French word "alouance", which means "approval" or "assent". The term originated from the verb "alouer", meaning "to approve" or "to grant". "Alouer" is derived from the Late Latin word "allaudare", formed by combining "ad" (meaning "to") and "laudare" (meaning "praise").
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