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WorksheetsNZ Tax and Deductions Glossary
Total questions: 34
Worksheet time: 17mins
Manage and be responsible for running something.
Income
Pumpkin
Administer
Charity
Amount available in an account for withdrawal or use.
Investment
Commission
Chair
Balance
A payment made to a person by the government.
Royalties
Benefit
Water
Salary
An organisation set up to provide help and raise money for those in need.
Superannuation
Levy
Rug
Charity
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.
Commission
Donation
Printer
Income Tax
An amount of money added to an account.
Potato
Dividend
Credited
Debt
Taken away from something.
Income
Deducted
Instalment
Beanbag
A sum of money that is paid by a company to a shareholder.
Donation
Blanket
Instalment
Dividend
Something that is given to a charity, especially a sum of money.
Interest
Donation
Phone
Levy
Money received, especially on a regular basis, for work or through investments.
Income
Jellyfish
Kiwisaver
PAYE
Tax collected directly on personal income.
Catch
Instalment
Income Tax
Labourer
A law that specifies how taxes are collected from New Zealand residents and organisations through the income tax system.
Tax Law NZ 1840
Income Tax Act 2007
Residential Tenancies Act 1986
Heat Pumps Act 1886
The IRD collects tax and administers the tax system. When a person receives income, a certain percentage is paid to the IRD.
Ministry of Social Development
Inland Revenue Department
Watching Paint Dry
Ministry of Business, Innovation and Employment
A sum of money due as one of several equal payments for something, spread over an agreed period of time.
Commission
Dividend
Grater
Instalment
Money paid regularly at a particular rate for the use of money lent.
Interest
Fence
Levy
Wage
Action or process of investing money for profit.
Shareholder
Investment
Cactus
Salary
A scheme that helps people save for their retirement. It is one of the most common deductions on a persons income.
Deduction
Superannuation
Kiwisaver
Compact Disk
A person who does manual work.
Labourer
Cassette Tape
Tradie
Charity
A person who rents out land, a building, or accommodation.
Real Estate Agent
Comissioner
Parrot
Landlord
A tax
Apple
Levy
Tax
Tax code
A system to take tax out of your income.
Provisional Tax
Instalment
Carrot
PAYE - Pay As You Earn
Tax paid throughout the year in three instalments.
PAYE
Resident Withholding Tax
Terminal Tax
Provisional Tax
Tax on investments
Dividend
Resident Withholding Tax
Peace Lily
Royalties
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.
Royalties
Donation
Income
Cushion
A fixed regular payment.
Chandelier
Income Tax
Wage
Salary
An owner of shares in a company.
Sockpuppet
Charity
Shareholder
Beneficiary
Where shares of companies are bought and sold.
Supermarket
Stock Market
Cash Converters
Cattle Market
Regular payment made into a fund by an employee towards a future pension.
The housing market
Tabletop
Superannuation
Kiwisaver
Money taken from a worker by the government to pay for key services.
Levy
Tax
Donation
Kitchen Sink
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.
Dividend
Deduction
Alphabet
Tax code
Tax that is determined when your accounts are calculated at the end of the financial year.
Provisional Tax
Terminal Tax
PAYE
Shelving Tax
A point or limit.
Threshold
Limit
End
Line
A fixed regular payment earned for work or services, typically paid on a daily or weekly basis.
Salary
Skittles
Money
Wage
A point or limit.
Threshold
Limit
End
Line
