tangible asset

something substantial or real that is capable of being given an actual or approximate value.

tax invoice

a document generally issued by the supplier. It shows the price of a supply, indicating whether it includes GST, and may show the amount of GST. It must show other information, including the ABN of the supplier. You must have a tax invoice before you can claim an input tax credit on your activity statement (except for purchases of $50 or less).


an offer in writing to carry out work, which has been specified by another person. The offer quotes a fixed price, which will be charged for doing the work.

term loan

a loan for a fixed period of more than one year and repayable by regular instalments.

trade credit

an arrangement to buy goods or services on account, that is, without making immediate cash payment.

trade discount

an allowance made by a seller to a buyer at the time of purchase, for the deduction of a percentage of the price, provided the payment is made within agreed terms.

trade mark

can be a letter, number, word, phrase, sound, smell, shape, logo, picture, aspect of packaging or any combination of these, which is used to distinguish goods and / or services of one trader from those of another

trial balance

a list of all balances in the ledger at a given time.


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