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Earned Income
Income received through active work or services, like salaries, wages, commissions, or business profits. It contrasts with passive income (like interest or dividends). For tax and reporting purposes, earned income is often used to determine eligibility for benefits, deductions, and credits.
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Excise Duty (Australia)
A tax levied on specific goods manufactured or produced in Australia, such as alcohol, tobacco, and fuel.
Employment Allowance
A UK relief allowing eligible employers to reduce their annual National Insurance liability by a set amount.
Estimated Tax Penalty
An IRS penalty applied when a US taxpayer underpays estimated taxes throughout the year.
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