Tax benefit and Tax deduction

Tax benefit noun - A tax deduction that is granted in order to encourage a particular type of commercial activity.

Tax deduction and tax benefit are semantically related. In some cases you can use "Tax deduction" instead a noun phrase "Tax benefit".

Tax deduction noun - A reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket.

Tax benefit and tax deduction are semantically related. Sometimes you can replace phrase "Tax benefit" with "Tax deduction", this phrases are similar.