Exemption (noun)

1. The state of being exempt from a duty or obligation.
2. An exemption or release from a duty, liability, or penalty.

Origin:

From latin exemptiōnem ("exemption, release"), from eximere ("to take out, remov.e")

Examples:

1. The exemption from taxes for certain low-income individuals.
2. The exemption of certain groups from military service.
3. The school offers exemptions for students who have already taken the class.
4. The company's employees are eligible for a number of tax exemptions.
5. The exemption of certain goods from tariffs.