Glossary beginning with U

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Unearned income search for term

Income received that is not from a personal exertion source. Bank interest and dividends are examples of unearned income.

Unfranked dividend search for term

A share of a company's distribution paid to a shareholder on which no tax has been paid by the company.

Wacky facts

  • Fact 17

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

Glossary

Taxable income

Assessable income minus allowable deductions.

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