allowanceal·low·ance /əˈlaʊəns/ noun1[countableC] an amount of money that someone is given regularly or for a special reasonShe earns a package worth $1 million, including a $15,000 clothing allowance.
→ cost of living allowance → entertainment allowance → family allowance → job-seeker's allowance → subsistence allowance2[countableC]ACCOUNTING an amount that a company thinks it may lose in the future, and includes in its accounts as a PROVISIONallowance forThe company has made an increase in its allowance for bad debt.
→ loan-loss allowance3[countableC]TAX an amount of money that a person can earn without paying tax on it
→ income tax allowance → personal allowance4[countableC]TAX a maximum amount of goods that you can buy without paying tax on them when taking them into another countryThey may introduce higher sales taxes on purchases above the duty-free allowance.
→ auto-expense allowance → capital allowance → depreciation allowance → writing-down allowance → see also oversubscription allowance