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 17

    The opportunity to pay income tax in instalments, rather than once per year, was introduced in 1941.

Compliance costs

The expenses incurred by a business in meeting legislative requirements.

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