BUSINESS, BANKING AND

FINANCE TERMINOLOGY
theACCC [read as TheA-tripte-C]
= theA ustralianC ompetitioann d
ConsumersC ommission
an account
a cheque account
a savlngs account
a credit account
an accountant
amalgamatea,n d amalgamation
an annuity
an asset
an auctaon
an ATM-a n automaticte llerm achine
a bad debt
a balances heet
banka ccounfte es
a bank card
bankruptcyg;o bankrupt
the black economy
the black market
a oonus
a permanenbt uildings ociety
a terminatingb uildings ociety
a breach of contract
a businessp lan
business
get down to business
a call centre
cash flow
a cashm anagementtr ust
a charge account
a cheque
a bank cheque
a personact heque
a traveller'sc heque
a chequebook
collateral
compoundin terest
a 'consumewr atchdog'
the CPI-t he consumepr ricei ndex
a contract
consignment
cost me an arm and a leg
counters taff
credit
a credit union
a creditor
currency
hard currency
soft currency
a currenta ccount
death duties
debentures
debit; debit your account
a debt-to-equitrya tio
deduct,a deduction
deposit,a deposjta, deposits lip
devaluation
a direct debit
discounat; ... 70d lscount
yourd isposablein come
e-commerce
electronicb anking
ethical investment
excise duty
eg a per-stickto baccoe xcised uty
a family trust
a finance company
a fixed term deposit
foreign exchange
a franchise
fraud
the futures market
gambling
gift duty
global capital
globalization
a growingc oncern
good value for money
be regarded as good value for
money
governmenbt onds
guaranteea, guarantee
a neoge
a hedgea gainstin flation
hire purchase
incomet ax
incorporation
an Increment
indexedin, dexedto ...
inflation
insidert rading
intellectuapl roperty
interest
an Inve$ment
an investmenpt ortfolio
joint ownership
a leadinge dgec ompany
a levy;l evyc hargesl,e vya tax
a liability
a limited company
liquid assets
122

markets hare state-of{he-artte chnology

the market value the stock exchange
marketinga, marketingp lan, a stored-valucea rd
marketingb udget stopa cheque
merge.a merger subsidiaryc ompany
a moneyle nder superannuatton
a monopoly target clients
negativeg earing telegraphitcr ansfer
newl ineo f (products) trade-ina, trade-in
niche marketing a trademark
outsourceo, utsourcing a treasuryn ote
an overdraft a kust account
an overdraffta cility a trustee
ovefdrafitn terest a turnovera: n annualt urnover
a partnership a warranty
a pawnbroker a warrantyp eraod
a personallo an wholesale
a PIN- personaild entification withdraq a withdraws lip
number write off a debt
a postal order yield; a yield on some dividend
a power of attorney
prestigioussu rroundings INSURANCE
eg five star hotels and resofts,
high-ends hopplng/r al/s accidenitn surance
Drivatize an act of God
privatization adequatein surancea; dequatec over
productr ange an annuity
a promissoryn ote an assessor
'Pty Ltd- proprietyli mited car insurance
a protectivetr ust comprehensivien surance
publicityc ampaign compulsortyh irdp artyi nsurance
qualityc ontrol contentsin surance
realizea n asset a covern ote
realizea n investment damage
a receNer disclosure
receivershipg;o intor eceivership a dutyo f disclosure
reflnance an excess
refund,g et a refund an exclusion
reimbursea, r eimbursement premium
repay,a repayment an extrap remium
theR everseB anko fAustralia an insurancper emium
retail the fine print
a return,a returno n yourc apital,a homea nd contentsin surance
rate of return income Drotection
'roads how' insurancefr aud
rollovera, rollovefru nd a loss
a scam make a claim
a secondm ortgage motorV ehiclein surance
securities a no-claimb onus
the settlemendt ate a policy;a replacemenpto licy
shares professionainl demnitv
SmalCl laims publicli abilitIyn surance
stamp duty risk; at risk
721

the surrendevr alue

travel insurance
TAXATION
1. Income
a commission
deemed income
a dividend
earnrngs
an entertainmenatl lowance
a gross Income
a gross salary
an honorarium
a rump sum
a net income
a remuneration
rental income
superannuation
a superannuatiocno ntribution
a travellinga llowance
undeclaredin come
the valueo f board,q uarterso, r
residence
a wage
workersc' ompensation
2. Deductions
a clarm
claims omethingo n yourt ax
depreciation
a donation
expenditure
incomer elatede xpenditure
negativeg earinga professional
subscription
a self-educatioenx pense
a tax agent'sf ee
tax deductible
your tools of trade
a trade union subscription
3. Rebates
assurance
basich ealtha nd medicacl over
a concessionarel bate
a dependent
a nouseKeeper
an invalidr elative
living expenses
the maximumr ebate
a medical expense
the Medicarere batel evy
yourp rincipapl laceo f residence
a proportionatree bate
rates and land taxes
a sole contributor
4. Documentatioann d Lodgement
an attachedd ocument
e-lodgemensty stem
a first return
a groupc ertificatea; payment
summary
lncome tax
an installment
lodge your tax return
the originalt,h e originadl ocument
put in your tax return
get a tax refund
a serial number
a stamp sheet
a statutoryd eclarationa; stat.d ec.
a supportingd ocument
a tax booklet
a TFN- a Tax File Number
a tax form
a tax rate
OTHER
audit a return
an auditor
a'bottom-of{he-harbousrc' heme
a tax agent
a tax assessor
a tax avoidances cheme
a tax bracketb; e in a highert ax
bracket
a tax exemption
a tax naven
tax indexation
a tax rebate
a tax return
a lax stamp
a tax write-off
a threshold
body
t24

GST TERMINOLOGY
- see 'SocialWelfare'word list
atso
acquirei tems
an adjustment
an adjustmennt ote
an ABN-a nA ustralianB usiness
Number
be input taxed
a BAS-a BusinessA ctivity
investment
a calendamf onth
a capital item
a car depreciatiolnim it
carry on an enterprise
claim credits
claimi nputt ax creditsfo r cST
a commerciaal ctivity
a commerciaol peration
complyc, omplyw ith
a customs bonded warehouse
a diagnosticim agingp rocedure
an employmenrte lateds kill
an entity,e g
a body corporate
a corporation.sole
a body politic
a partnership
an unincorporateads sociation
an unincorporatebdo dyo f persons
exerciseo r importd uty
an exemption
financiailn stitutiondsu ty
a financialsupply
a fringe benefits
a fuel rebate
GST regishation
GST-free
GST registered
an installmenatc tivitys tatement
a liability
lodge monthly/quarterly
luxury car tax
make a supply
a non-commerciaacl tivity
offset...against...
an operatingc ost
paperwork
pay as you go
petroal ndd ieselfuel
record keeping
remit GsT
a reportingp rocedure
a residentiapl remises- premrsesls
singular'
a residentiarle nt
a retailer
a self-fundedre tiree
a streamlinedp rocess
subjecto GST
a suppliero i goodsa nd services
a tax credit
a tax invoice
a tax period
a taxable supply
a terminationp ayment
a transaction
a winee qualizatiotna x
a yearly turnover
COMMON TRADE TERMS/GOODS
- this list is not exhaustive
agriculturapl roducts
atumtnum
armaments
automobiles
beef
beverages
buildinmg aterials
ceramicst,i les
cereals
coal
computere quipmentp, arts
copper
cosmetics
crustaceans
dairy products
drugs
electricagl oods,e lectrical
appliances
electronics
energy
entertainment
fashion
fish
footwear
furniture
grassware
goro
horticulture
infrastructurper ojects
eg buildingsb,r idgestu, nnels,
powerg enerationw, atert reatment
tron, jron ore
125

lT and telecommunications
jewellery
lealhegr oods
machinery
metals
militarey quipment
packaging
petroleump,e troleumpr oducts
pharmaceuticals
porcelain
primaryp roducts
processedfo ods
processedg oods
raw materials
real estate
seafood
spices
steel
textiles
tinned goods
tobacco
toys
wool, raw wool, clean wool
zinc