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 6

    'Bottom of the harbour' schemes were a form of tax avoidance used in Australia in the 1970s. The 'harbour' referred to was Sydney Harbour, which was near the financial district. Participation in the schemes was made a criminal offence in 1980.

Progressive tax

A tax where the tax rate increases as the income increases. Income tax for individuals is a progressive tax.

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