The opportunity to pay income tax in instalments, rather than once per year, was introduced in 1941.
- Refund search for term
-
An amount paid back by the ATO to a taxpayer when the taxpayer has paid more tax than they are liable to pay.
- Regressive tax search for term
-
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.
- Retirement savings account (RSA) search for term
-
A savings account set up specifically for the purpose of saving funds for retirement.
- Return search for term
-
The net amount an individual receives from an investment.
- Revenue / government revenue search for term
-
The income of a government (from taxes, excise duties or other sources) used for the payment of public expenses.
- Risk search for term
-
The chance of loss on a financial investment.
- Rollover search for term
-
When an individual transfers super money from one super fund into another.
-
Fact 17
Scam
A fraudulent, illegal or dishonest scheme.
read more glossary terms