Glossary beginning with O

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Objection search for term

A taxpayer has the right to object to some decisions the ATO makes about their tax affairs, including most tax assessments. If a taxpayer objects to a decision, the ATO will conduct a review.

Ordinary time earnings search for term

The amount an individual earns for their ordinary hours of work.

  • Fact 2

    In 2003, New Zealand proposed an agricultural emissions research levy to be collected from livestock farmers. The tax was to be used to fund research into the livestock industry's emissions of gases.

Regressive tax

A tax charged at a set dollar amount, regardless of the value of the transaction. The passenger movement charge (also called departure tax) on passengers at airports is a regressive tax.

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