The amount on which a tax rate is applied. In the case of personal or corporate income tax, for example, the tax base is taxable income; if some kinds of income are excluded from the definition of taxable income (such as a portion of capital gains, or certain types of benefits), they are said to be excluded from the tax base. In the case of sales taxes, the tax base is the value of items that are subject to tax; basic groceries, for example, are not part of the tax base of the GST. When economists speak of the tax base being broadened, they mean that a wider range of goods, services, and income has been made subject to a tax.
Land and buildings viewed for their potential to generate property taxes.