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exemption
An exemption is a rule or law which excepts certain things from another rule or law. For example:
- A grandfather clause, in the modern use of the U.S. term, is an exemption that allows a pre-existing condition to continue, even if such a condition is now prohibited from being begun anew.
- A tax exemption allows a certain amount of income or other value to legally avoid taxation.
- Rules against beards, burkas, or other religious symbols often have exemptions if they are worn for religious purposes.
- A student may elect to try for an exemption from a class, if he or she already knows the material from previous work at another school or job. An exemption exam is usually taken by the student as proof of this knowledge.
- In the Roman Catholic Church, Exemption is the whole or partial release of an ecclesiastical person, corporation, or institution from the authority of the ecclesiastical superior next higher in rank.
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Eastburg seeks golf course tax exemption
Pocono Record - Nov 16 9:43 PM STROUDSBURG — East Stroudsburg borough took another swing Wednesday at winning a property tax exemption for the Terra Greens Golf Course, while the Monroe County Assessment Board continued to consider whether such a tax break gives Terra Greens an unfair competitive advantage over privately-owned courses.
NEW IRISH AUDIT EXEMPTION THRESHOLDS WILL APPLY EARLIER THAN EXPECTED
Accounting Education - Nov 16 7:16 AM The Institute of Chartered Accountants in Ireland (ICAI) has welcomed amendments to the Investment Funds, Companies and Miscellaneous Provisions Bill 2006 agreed at the Select Committee on Enterprise and Small Business this week which will allow the new proposed audit exemption regime commence for financial years ending in 2007....
New audit exemption regime to begin soon
Ireland Business World - Nov 16 3:25 AM The Institute of Chartered Accountants in Ireland (ICAI) has welcomed earlier than expected amendments to the Investment Funds, Companies and Miscellaneous Provisions Bill 2006, which will allow the new proposed audit exemption regime commence for financial years ending in 2007.
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