Understanding your Tax Obligations can be confusing, to help get you started we have explained some of the most commonly used terms: Activity StatementAustralian Business Number Capital Allowances Capital Gains Tax Excise First Home Saver Accounts Fringe Benefits Tax Fuel Schemes Goods and Services TaxIncome TaxMedicare LevyPaid Parental LeavePAYG InstalmentsPAYG WithholdingRates and CalculatorsSmall Business Entity ConcessionsState TaxesSuperannuation GuaranteeTax Payer Penalties