A standard amount that taxpayers can claim for themselves is called
A)the personal tax credit.
B)the personal deduction.
C)the basic personal amount.
D)an exclusion credit.

Question

Quizplus · Accepted Answer

The standard amount that taxpayers can claim for themselves is called the basic personal amount. This amount is a non-refundable tax credit that reduces the amount of tax owed. It is adjusted annually for inflation and varies based on the taxpayer's province of residence.

A Standard Amount That Taxpayers Can Claim for Themselves Is