- The foundation or underlying support upon which other elements, usually more elaborate, are built upon
- A fundamental rule or approach that's utilized as a primary guide or reference
- The initial worth of an asset used to calculate any changes in its value for taxation purposes
- The law was established on the basis of protecting citizens' rights.
- The legal argument was built on the basis of past court precedents.
- The capital gains tax was calculated based on the original basis of the investment.