1.
**ABN** – Australian Business Number, a unique identifier for businesses.
2.
**Australian** – Related to Australia.
3.
**Business** – An organization involved in commercial, industrial, or professional activities.
4.
**Number** – A numerical value or identifier.
5.
**Tax** – Money paid to the government based on income or transactions.
6.
**Taxation** – The system of collecting taxes by the government.
7.
**GST** – Goods and Services Tax, a 10% tax on most goods and services in Australia.
8.
**Goods** – Physical products that are bought or sold.
9.
**Services** – Work done for others as a business activity.
10.
**Credit** – Recognition of an amount that reduces tax payable, like input tax credits.
11.
**Input** – Resources or materials put into a business process.
12.
**Output** – The final product or service produced by a business.
13.
**Invoice** – A document requesting payment for goods or services provided.
14.
**Withholding** – Money taken out of a payment to be sent to the tax office.
15.
**Payment** – The transfer of money in exchange for goods or services.
16.
**ATO** – Australian Taxation Office, the government agency that collects taxes.
17.
**Government** – The organization that makes and enforces laws, including tax laws.
18.
**Register** – To officially record a business or activity with a government agency.
19.
**Reporting** – The act of providing information, such as tax details, to authorities.
20.
**Statement** – A formal report, like a Business Activity Statement.
21.
**Activity** – Any action or operation, especially related to business or finance.
22.
**Supply** – Providing goods or services to others.
23.
**Demand** – The desire and ability of customers to buy goods or services.
24.
**Taxable** – Subject to tax.
25.
**Penalty** – A punishment, often financial, for breaking laws or rules.
26.
**Ethics** – Moral principles guiding behavior, including paying taxes honestly.
27.
**Compliance** – Following laws and regulations.
28.
**Records** – Documents or files keeping track of business transactions.
29.
**Finance** – Management of money, including income and expenses.
30.
**Income** – Money earned by a business or individual.
31.
**Expense** – Money spent to operate a business.
32.
**Refund** – Money returned when too much tax has been paid.
33.
**Legislation** – Laws passed by a government.
34.
**Cash** – Physical money in coins or bills.
35.
**Economy** – The system of production, distribution, and consumption in a country.
36.
**Turnover** – The total sales or revenue of a business in a period.
37.
**Rates** – The percentage or fixed amount charged as tax.
38.
**Contractor** – A person or business hired to perform work or services.
39.
**Client** – A customer or person receiving services.
40.
**Supplier** – A business or person that provides goods
