Glossary beginning with A

Click one of the letters above to go to the page of all terms beginning with that letter.
Activity statement search for term

A single form used by businesses registered for GST to report their business tax entitlements and obligations including GST, PAYG instalments, PAYG withholding and FBT instalments. See also instalment activity statement.

Age pension search for term

A social security payment made by the Australian Government to Australian citizens who are over the qualifying age and meet the means tests.

Allocated pension search for term

A superannuation investment that gives an individual a regular income when they retire.

Allowable deduction search for term

An expense incurred in the course of earning income that can be used to reduce assessable income. Allowable deductions are sometimes simply referred to as deductions.

Amendment search for term

A request to the ATO by a taxpayer to change their tax return or notice of assessment.

ASFA search for term

ASFA is an acronym for The Association of Superannuation Funds of Australia.

Assessable income search for term

Gross income, including salary and wages, dividends, interest and rent before any deductions are allowed. Assessable income also includes net capital gains and other amounts that are not ordinarily classed as income.

Asset search for term

An item of value such as property, a car or machinery, or a financial item such as shares or a bank account.

Australian business number (ABN) search for term

A business identifier for certain dealings with the ATO, other government departments and agencies, and other businesses.

Australian Business Register (ABR) search for term

A public register that contains details of all ABN registrations.

Australian federal budget search for term

The estimated revenue and expenditure of the Australian Government for the financial year.

Australian Securities Exchange search for term

An Australian exchange where shares and other securities are traded.

Australian Taxation Office (ATO) search for term

An Australian Government body that collects taxes and other revenue, and manages superannuation.

  • Fact 3

    'Taxes, after all, are dues that we pay for the privileges of membership in an organised society'. Franklin D Roosevelt

Capital growth

Occurs when the value of an investment or asset increases over time.

read more glossary terms