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Contra Account
A contra account offsets the balance of a related account. For example, accumulated depreciation is a contra asset account that reduces the value of fixed assets. These accounts help provide more accurate reporting by showing gross vs. net values in financial statements.
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Concessional Contributions
Pre-tax superannuation contributions in Australia, including employer contributions, taxed at a concessional rate.
CGT (Capital Gains Tax) Discount
An Australian tax concession allowing individuals to reduce a capital gain by 50% if the asset was held for over…
CIS (Construction Industry Scheme)
A UK HMRC scheme requiring contractors to deduct tax from payments to subcontractors in the construction sector.
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