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.

  • Fact 6

    'Bottom of the harbour' schemes were a form of tax avoidance used in Australia in the 1970s. The 'harbour' referred to was Sydney Harbour, which was near the financial district. Participation in the schemes was made a criminal offence in 1980.

Standard choice form

A form filled in when an employee chooses or changes the super fund into which their employer contributes their super.

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