TAX INVOICE (GST) TAXABLE ACTIVITY (GST) TAXABLE INCOME TAXABLE SUPPLIES (GST) TAXATION COMMISSIONER TENANCY IN-COMMON
TERRA NULLIUS TIME SHARE TITLE TITLES OFFICE TORRENS TITLE TRANSFER OF LAND
TURNOVER (GST)
TAX INVOICE (GST)   An invoice showing certain details set out in the legislation and which is used for GST purposes. Such a document can, of course, also be used for ordinary business purposes
TAXABLE ACTIVITY (GST) Any supply of goods or services for a payment, whether in cash or kind.
TAXABLE INCOME   A taxpayer's assessable income less the allowable deductions.
TAXABLE SUPPLIES (GST)   Supplies made by a registered entity in the course of an enterprise, but excluding GST?free supplies and input taxed supplies.
TAXATION COMMISSIONER   The official charged with administering the income tax and GST legislation in Australia.
TENANCY IN-COMMON  

The ownership of land by two or more persons collectively in such a way that on the death of one the ownership of a designated proportion of the property (not necessarily an equal share) passes to his heirs (contrast "joint tenancy"). A tenant in-common is one of the co-owners and not a "tenant" in the sense of "lessee".
TERRA NULLIUS   Uninhabited land.
TIME SHARE   A special form of dividing land into units each of which gives occupation rights for a designated period -for example, a specifled week - each year.
TITLE   The right to ownership of land; or the document (the "certificate of title") which evidences such ownership under the Torrens system.
TITLES OFFICE   The State Government authority which maintains the official registers showing the legal ownership of land and brief details of charges secured on land and which issues documents of title.
TORRENS TITLE   Title to land evidenced by an entry in a government register kept at the Titles Office and the issue of a certificate. (The Torrens system is named after its inventor in about 1858, Sir Robert Torrens, the first premier of South Australia.) See also "General Law Title".
TRANSFER OF LAND   A document notifying the change of ownership of land which is forwarded to the Titles Office to allow its register and the Certificate of Title to be suitably amended.
TURNOVER (GST)   Taxable supplies and GST?free supplies, but not input taxed supplies. For property owners this means that residential rents are disregarded, while for stock exchange investors it means that dividends and interest are disregarded.