Taxation Vocabulary

adjective a word that describes or modifies a noun or pronoun, in this case 'dependent' describes something that relies on something else for support or existence

• The success of the project is dependent on the approval of the board.
• I'm still dependent on my parents for financial support.
• She's so dependent on her phone, she can't go anywhere without it.
• His happiness is dependent on her presence in his life.

noun the act of avoiding something or escaping from something through deceit or cleverness

• The suspect was charged with tax evasion for failing to report income.
• He's always finding ways to dodge taxes, it's like he's a pro at evasion.
• She's a master at dodging responsibilities, always finding a way to pull off an evasion.
• His constant evasion of the truth eventually caught up with him.

noun the act or process of demanding and obtaining something from someone, especially a payment or service

• The exaction of taxes by the government is necessary for funding public services.
• I can't believe the exaction on my paycheck this month!
• The exaction on that fine was outrageous!
• The exaction of emotional labor from employees is a common issue in many workplaces.

noun a legal process that allows a creditor to take money directly from a debtor's wages or bank account to settle a debt

• The court issued a garnishment order to collect the unpaid debt.
• They're taking money out of my paycheck for garnishment.
• I can't believe they're hitting me with a garnishment for that old bill.
• His constant negativity was like a garnishment on my happiness.

noun the total amount of money made in a specific period of time

• The gross income of the company was calculated before deducting any expenses.
• I heard that Bob's gross income is pretty high, even after taxes.
• That side hustle is bringing in some serious gross income, dude.
• Her dedication to her craft resulted in a gross income of respect from her peers.

noun the action or process of imposing something

verb to establish or apply by authority

• The government decided to impose stricter regulations on the banking industry.
• My parents always impose a curfew on me when I go out with friends.
• I can't believe my boss is trying to impose more work on us during the holidays.
• The weight of his guilt seemed to impose itself on his shoulders, making it hard for him to move.

noun the laying on of something as a burden or obligation

• The new tax law is seen as an imposition on small businesses.
• I see this new rule as a real imposition on our daily routine.
• Having to work overtime on Fridays is such an imposition.
• The heavy workload felt like an imposition on my work-life balance.

noun a barrier or support, especially in a building construction

verb to impose or place a tax or duty

• The impost levied on imported goods is subject to government regulations.
• I can't believe how much impost they charge for parking in this city.
• I'm not paying that impost, it's way too high.
• She felt like an impost in the group, never quite fitting in.

noun a tax or fee imposed by a government or authority

verb to impose or collect a tax or fee

• The government decided to levy a new tax on luxury goods.
• They're going to levy a fine if you don't pay your parking ticket on time.
• I can't believe they're going to levy a fee for using the ATM at that bank!
• The weight of responsibility seemed to levy a heavy burden on his shoulders.

noun a fine or penalty imposed as punishment for wrongdoing

verb to defraud or swindle

• The judge decided to mulct the defendant for damages caused by their negligence.
• The officer mulcted me for speeding on the highway.
• The scammer tried to mulct money from unsuspecting victims.
• The con artist's smooth talk was designed to mulct trust from his targets.

noun a type of property that includes land and any permanent structures attached to it

adjective describing the type of property as being tangible and immovable

• Real property refers to land and any structures attached to it, such as buildings or houses.
• I just bought a piece of real property out in the countryside.
• My aunt inherited some prime real property in the city.
• In literature, the mansion often symbolizes real property and wealth.

noun a person who lives in a particular place

adjective used to describe something that is located in a particular place

• The resident of the apartment complex filed a noise complaint with the building management.
• The new resident next door seems really friendly.
• The resident at that house party was the life of the party.
• As a writer, words are the residents of my mind.

noun the action of coming or going back to a place or person

verb go or come back to a place or person

• The company is expecting high returns on their investment.
• I can't wait to see the returns on this project.
• I'm hoping for some sweet returns on this deal.
• As winter approaches, the leaves will soon make their returns to the trees.

noun a person who earns a specific amount of money for work done, typically on a regular basis

• The wage earner diligently worked to provide for their family.
• The wage earner is always hustling to make ends meet.
• The wage earner is grinding it out at work every day.
• The wage earner is the backbone of the household.

noun a piece of unexpected good fortune or financial gain

adjective denoting a piece of unexpected good fortune or financial gain

• The unexpected inheritance was a windfall for the family.
• Winning the lottery was a huge windfall for them.
• Getting that bonus was a total windfall!
• The discovery of oil in their backyard was a windfall for the small town.

verb to hold back; to keep from proceeding; to retain; to refuse to give or grant

• The company decided to withhold payment until the project was completed to satisfaction.
• I'm going to withhold my opinion until I have more information.
• Don't withhold the good news, tell me what happened!
• Sometimes it's better to withhold your emotions and think before reacting.

noun A tax proposed on financial transactions in order to generate revenue for public services and reduce income inequality.

• The Robin Hood Tax is a proposed financial transaction tax aimed at redistributing wealth from the rich to the poor.
• Have you heard about the Robin Hood Tax? It's supposed to help level the playing field in the financial markets.
• The Robin Hood Tax is like taking from the rich to give to the poor, but in the world of finance.
• The Robin Hood Tax symbolizes the idea of taking from the wealthy financial institutions to benefit the less fortunate in society.

noun a three-letter acronym for the term 'abnormality'

• The company was fined for not properly reporting their ABN to the tax authorities.
• Make sure you include your ABN when filling out that form.
• I can't believe they're still operating without an ABN, that's risky.
• Having a strong ABN is like having a solid foundation for your business.

noun a liability in the form of a written promise to pay a sum of money owed

• The company's account payable department is responsible for managing all outstanding invoices.
• I need to make sure I pay my account payable on time to avoid any late fees.
• I totally forgot about my account payable, I need to get that sorted out ASAP.
• Keeping up with your account payable is like staying on top of your financial responsibilities.

adjective Capable of accruing or being accrued

• The interest on the investment is accruable over time.
• You can earn more money on this savings account because interest is accruable.
• Dude, you gotta get in on this deal - the benefits are totally accruable!
• Happiness is accruable through acts of kindness and gratitude.

verb to assess or determine the amount of a fine or penalty

• The judge will affeer the amount of damages to be paid by the defendant.
• I heard the boss is going to affeer our salaries next month.
• I can't believe they affeered the price of those sneakers!
• She had to affeer her pride and admit she was wrong.

noun a legal term referring to the process of assessing or determining a fine or penalty

• The court's affeerment of the penalty was based on the severity of the crime.
• The judge's affeerment was a fair decision given the circumstances.
• I can't believe the affeerment was so harsh, it seems excessive.
• Her affeerment of the situation showed her true character and strength.

noun A person who assesses or determines a fine or penalty in a legal proceeding

• The affeeror was responsible for determining the appropriate fines in the court case.
• I heard the affeeror is the one who sets the fines in this court.
• The affeeror is like the money guy in court, deciding how much you gotta pay.
• In a way, the affeeror acts as the judge of your wallet in legal matters.