olakšica

1. (of taxes, fees) break; exemption; relief
   Mladi poljoprivrednici imaju poreske olakšice. — Young farmers get tax breaks.
   Država uvodi nove olakšice za poslodavce. — The state is introducing new relief measures for employers.
2. easing; relief; something that makes things easier
   Novi most je velika olakšica za vozače. — The new bridge makes life much easier for drivers.

In the sense of a tax break it is mostly used in the plural: poreske olakšice.