Industry Terminology

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Terms

Accumulation fund

Accumulation fund

Definition

An accumulation fund is a fund where the benefit a member receives is the total of contributions to the fund plus/minus earnings on those contributions, less any deductions including tax.
Adjusted taxable income

Adjusted taxable income

Definition

Adjusted taxable income is your taxable income plus your total surchargeable contributions. Surchargeable contributions include salary sacrifice contributions and insurance premiums paid by your employer and may include part of an employer eligible termination payment (ETP) transferred into the fund.
ASFL

ASFL

Definition

Australian Financial Services Licence
Asset class / allocation

Asset class / allocation

Definition

Type of investment such as shares, bonds or property and how they are spread between the different investment options such as balanced or high growth.
ATO

ATO

Definition

Australian Taxation Office
AWOTE

AWOTE

Definition

Average Weekly Ordinary Time Earnings is a measure of wage or salary levels of employees in Australia as measured by the Australian Bureau of Statistics and published monthly.