Glossary beginning with H

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Higher education contribution scheme (HECS) search for term

A system that supplemented funding of the Australian education system. It was incorporated with other loans into the Higher education loan program (HELP) on 1 January 2005.

Higher education loan program (HELP) search for term

The Australian Government contributes towards the education of eligible students by funding government-supported places at universities. Eligible students may be able to study now and pay later by using a HELP loan to pay their student contribution.

  • 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.

Allowable deduction

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.

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