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Worksheets

NZ Tax and Deductions Glossary

Total questions: 34

Worksheet time: 17mins

Name
Class
Date
1.

Manage and be responsible for running something.

a)

Income

b)

Pumpkin

c)

Administer

d)

Charity

2.

Amount available in an account for withdrawal or use.

a)

Investment

b)

Commission

c)

Chair

d)

Balance

3.

A payment made to a person by the government.

a)

Royalties

b)

Benefit

c)

Water

d)

Salary

4.

An organisation set up to provide help and raise money for those in need.

a)

Superannuation

b)

Levy

c)

Rug

d)

Charity

5.

Payment given for services done or products sold (payment is given on the basis of goods sold) and/or receiving a percentage of the value of what you have sold.

a)

Commission

b)

Donation

c)

Printer

d)

Income Tax

6.

An amount of money added to an account.

a)

Potato

b)

Dividend

c)

Credited

d)

Debt

7.

Taken away from something.

a)

Income

b)

Deducted

c)

Instalment

d)

Beanbag

8.

A sum of money that is paid by a company to a shareholder.

a)

Donation

b)

Blanket

c)

Instalment

d)

Dividend

9.

Something that is given to a charity, especially a sum of money.

a)

Interest

b)

Donation

c)

Phone

d)

Levy

10.

Money received, especially on a regular basis, for work or through investments.

a)

Income

b)

Jellyfish

c)

Kiwisaver

d)

PAYE

11.

Tax collected directly on personal income.

a)

Catch

b)

Instalment

c)

Income Tax

d)

Labourer

12.

A law that specifies how taxes are collected from New Zealand residents and organisations through the income tax system.

a)

Tax Law NZ 1840

b)

Income Tax Act 2007

c)

Residential Tenancies Act 1986

d)

Heat Pumps Act 1886

13.

The IRD collects tax and administers the tax system. When a person receives income, a certain percentage is paid to the IRD.

a)

Ministry of Social Development

b)

Inland Revenue Department

c)

Watching Paint Dry

d)

Ministry of Business, Innovation and Employment

14.

A sum of money due as one of several equal payments for something, spread over an agreed period of time.

a)

Commission

b)

Dividend

c)

Grater

d)

Instalment

15.

Money paid regularly at a particular rate for the use of money lent.

a)

Interest

b)

Fence

c)

Levy

d)

Wage

16.

Action or process of investing money for profit.

a)

Shareholder

b)

Investment

c)

Cactus

d)

Salary

17.

A scheme that helps people save for their retirement. It is one of the most common deductions on a persons income.

a)

Deduction

b)

Superannuation

c)

Kiwisaver

d)

Compact Disk

18.

A person who does manual work.

a)

Labourer

b)

Cassette Tape

c)

Tradie

d)

Charity

19.

A person who rents out land, a building, or accommodation.

a)

Real Estate Agent

b)

Comissioner

c)

Parrot

d)

Landlord

20.

A tax

a)

Apple

b)

Levy

c)

Tax

d)

Tax code

21.

A system to take tax out of your income.

a)

Provisional Tax

b)

Instalment

c)

Carrot

d)

PAYE - Pay As You Earn

22.

Tax paid throughout the year in three instalments.

a)

PAYE

b)

Resident Withholding Tax

c)

Terminal Tax

d)

Provisional Tax

23.

Tax on investments

a)

Dividend

b)

Resident Withholding Tax

c)

Peace Lily

d)

Royalties

24.

Payment made to the legal owner of the property, patent, copyrighted work or franchise by those who wish to make use of it for the purposes of generating revenue or other such desirable activities.

a)

Royalties

b)

Donation

c)

Income

d)

Cushion

25.

A fixed regular payment.

a)

Chandelier

b)

Income Tax

c)

Wage

d)

Salary

26.

An owner of shares in a company.

a)

Sockpuppet

b)

Charity

c)

Shareholder

d)

Beneficiary

27.

Where shares of companies are bought and sold.

a)

Supermarket

b)

Stock Market

c)

Cash Converters

d)

Cattle Market

28.

Regular payment made into a fund by an employee towards a future pension.

a)

The housing market

b)

Tabletop

c)

Superannuation

d)

Kiwisaver

29.

Money taken from a worker by the government to pay for key services.

a)

Levy

b)

Tax

c)

Donation

d)

Kitchen Sink

30.

A letter (or letters) that decide how much tax is going to be deducted from your income when it is taxed through the PAYE system.

a)

Dividend

b)

Deduction

c)

Alphabet

d)

Tax code

31.

Tax that is determined when your accounts are calculated at the end of the financial year.

a)

Provisional Tax

b)

Terminal Tax

c)

PAYE

d)

Shelving Tax

32.

A point or limit.

a)

Threshold

b)

Limit

c)

End

d)

Line

33.

A fixed regular payment earned for work or services, typically paid on a daily or weekly basis.

a)

Salary

b)

Skittles

c)

Money

d)

Wage

34.

A point or limit.

a)

Threshold

b)

Limit

c)

End

d)

Line