The amount you need to earn before being taxed depends on the tax laws of your country, as tax systems vary. Here are some examples for different regions:
United States (2024)
- Federal Income Tax:
- The standard deduction is $13,850 for single filers and $27,700 for married couples filing jointly. If your income is below this amount, you typically won’t owe federal income tax.
- Other thresholds may apply depending on filing status, age, and dependents.
United Kingdom (2024-2025)
- Personal Allowance:
- You can earn up to £12,570 before paying income tax.
- Above this, you'll be taxed starting at 20% (basic rate).
Canada (2024)
- Federal Basic Personal Amount:
- You can earn up to $15,000 CAD (approximate) tax-free.
- Provincial exemptions vary.
Australia (2024-2025)
- Tax-Free Threshold:
- The tax-free threshold is $18,200 AUD.
Pakistan (2024-2025)
- Income Tax Exemption Limit:
- Salaried individuals earning up to Rs. 600,000 annually are exempt from income tax.
- For business individuals, the threshold may differ.
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