Definitions & Acronyms

A B C D E F G I L M N O P Q R S T U V W

Term/Acronym	Definition
GBE	Government Business Enterprises
GST	Goods and Services Tax
GTO	Group Training Organisation
grant	When a person acquires a share or option in a company, the share or option is granted to the person. Section 13O of the Payroll Tax Act (Qld) outlines when a share or option is granted.
grossed-up value	The value of a fringe benefit after the initial value has been multiplied by the type 2 gross-up factor specified in the Fringe Benefits Tax Assessment Act 1986 (Cwlth).
group	If your business is related or connected to another business, you will be treated as one unit (group) for payroll tax purposes. This is called 'grouping'. A group exists if: corporations are related bodies corporate employees are used in more than one business the same person, or set of persons, has a controlling interest in two or more businesses an entity has a tracing interest in corporations a person is part of two or more groups. Your business only needs to fit into one of these categories to be grouped. The effect of grouping is that wages are aggregated to determine payroll tax liability for the group and only one payroll tax threshold (deduction) can be claimed by the designated group employer for each group. For detailed information, refer to the Payroll Tax legislation in the state or territory you are interested in.
group member	A person (including incorporated entities, all bodies and associations, trusts, partnerships and natural persons) who is a member of a group.
GST	A New Tax System (Goods and Services Tax) Act 1999 of the Commonwealth except that it includes notional GST of the kind for which payments may be made under Part 3 of the National Taxation Reform (Commonwealth-State Relations) Act 1999 by a person that is a State entity within the meaning of that Act.