Glossary beginning with E

Click one of the letters above to go to the page of all terms beginning with that letter.
Eligible rollover fund (ERF) search for term

A regulated superannuation fund or an approved deposit fund.

Entity search for term

An individual, sole trader, body corporate, company, corporation, partnership, trust or superannuation fund.

Excise search for term

A tax on certain goods produced or manufactured in Australia. These goods include alcohol, tobacco and petroleum. Customs duty at an equivalent rate is levied on imported goods to ensure that these goods are treated consistently with local goods.

Exempt income search for term

Income that is not taxable, for example, an invalidity pension.

  • Fact 13

    During World War I, many taxpayers felt that it was their patriotic duty to pay more than their assessed tax. Some were not legally obliged to pay tax but did so and others made payments of double, treble or quadruple the assessed amounts.

Franking credit

A credit paid to shareholders for the tax already paid on a dividend distribution by the company. Franking dividends were formerly called imputation credits.

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