Glossary
Abbreviations and terms used on this site, explained in plain English.
- ABN · Australian Business Number
- An 11-digit number that identifies a business in Australia.
- ABS · Australian Bureau of Statistics
- The national statistics agency (prices, wages, population).
- AdSense · Google AdSense
- Google's advertising service, which shows the ads on this site.
- AER · Australian Energy Regulator
- The regulator that sets default electricity prices (DMO) in some regions.
- AI · Artificial intelligence
- Software that can draft text or classify information. On this site it is used only for drafts that people review.
- APPs · Australian Privacy Principles
- The privacy rules in Australia's Privacy Act 1988.
- ATO · Australian Taxation Office
- The Australian Government agency that runs the tax and super systems.
- AUD · Australian dollars
- All amounts on this site are in Australian dollars unless stated.
- CER · Clean Energy Regulator
- The government agency that administers small-scale technology certificates for solar and batteries.
- CGT · Capital gains tax
- Tax on the gain made when you sell or dispose of an asset such as shares or an investment property; the net gain is added to your taxable income.
- CPI · Consumer Price Index
- The ABS measure of how much the prices of a typical basket of household goods and services change over time.
- DMO · Default market offer
- A reference electricity price set each year for NSW, south-east Queensland and South Australia.
- EIA · U.S. Energy Information Administration
- The US government agency for energy statistics.
- EOFY · End of financial year
- 30 June, when the Australian financial year ends.
- EV · Electric vehicle
- A car powered by a battery and electric motor. Some FBT rules treat eligible electric cars differently.
- FBT · Fringe benefits tax
- A tax employers pay on certain non-cash benefits given to employees, such as a car.
- GST · Goods and services tax
- A 10% tax on most goods and services sold in Australia.
- HECS-HELP · Higher Education Contribution Scheme – Higher Education Loan Program
- The government loan for university fees. Repayments are taken through the tax system once income passes a threshold.
- HELP · Higher Education Loan Program
- The family of government study loans that includes HECS-HELP.
- IP · Internet Protocol (address)
- A number that identifies a device's internet connection.
- kWh · Kilowatt-hour
- A unit of energy: using 1,000 watts for one hour. Electricity is billed per kWh; battery capacity is measured in kWh.
- LCT · Luxury car tax
- A tax on cars priced above a threshold; the threshold also limits some FBT concessions.
- LITO · Low income tax offset
- A reduction in income tax of up to $700 for people on lower incomes; it can't create a refund on its own.
- MLS · Medicare levy surcharge
- An extra levy for higher-income earners who don't have an appropriate level of private hospital cover.
- NSW · New South Wales
- An Australian state.
- OTE · Ordinary time earnings
- Pay for ordinary hours of work; the base on which super guarantee is calculated.
- P&I · Principal and interest
- Loan repayments that cover interest and also reduce the amount owed.
- PVWatts · PVWatts solar calculator
- A solar output estimator published by the US National Renewable Energy Laboratory.
- RBA · Reserve Bank of Australia
- Australia's central bank, which sets the cash rate.
- SAPTO · Seniors and pensioners tax offset
- A tax offset for eligible older Australians and pensioners, with its own Medicare levy thresholds.
- SG · Super guarantee
- The minimum super contribution employers must pay for eligible employees (12% of ordinary time earnings from 1 July 2025).
- STC · Small-scale technology certificate
- A certificate created when eligible solar panels or home batteries are installed. Selling them is how the federal rebate is paid, usually as a discount from the installer.
- URL · Uniform Resource Locator
- A web address, such as https://sumplify.app.
- WA · Western Australia
- An Australian state.
- WCAG · Web Content Accessibility Guidelines
- The international standard for accessible websites; 'AA' is the level most laws refer to.
- WFH · Working from home
- Doing your job from home; some running costs can be claimed as a tax deduction.