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Business Word/Phrase of the Day

word-phrase-descEvery day we publish a business word or phrase together with audio pronunciation, phonetics, definition and example sentences. This is a great way to improve your workplace vocabulary as well as your pronunciation. To receive 'Business Word/Phrase of the Day' by email, just subscribe to our newsletter from the link above. 

REMORTGAGE reɪmɔrgɪdʒ

09 Jul 2022

Verb

  • arrange a second mortgage (= an agreement with a bank or similar organization in which you borrow money to buy property), or increase the first mortgage, especially in order to obtain more money.
Example Sentence: In order to raise funds to pay off my debts, I’ve had to remortgage my apartment.
 

MORTGAGE mɔrgɪdʒ

08 Jul 2022

Noun

  • An agreement which allows you to borrow money from a bank or similar organization, especially in order to buy a house or an apartment.
Example Sentence: Banks are now being a lot more cautious about who they lend money to. It’s getting much more difficult to arrange a mortgage on a property.
 

RETURN ON INVESTMENT  

07 Jul 2022

Phrase

  • profit (or loss) on an investment, often expressed as a percentage.
Example Sentence: I initially invested $50,000 in the company. In the past 5 years, the company has paid me $150,000 in profit share. That’s what I call an excellent return on investment.
 

HEDGE FUNDS hɛdʒ fʌnd

06 Jul 2022

Noun

  • Hedge funds are speculative funds which make large bets on market movements. They utilize borrowed money to substantially leverage their returns (and losses), often at a factor of ten to one, or more. They purchase exotic securities and also take substantial short positions when they think the market or a particular sector of the market will go down.
Example Sentence: Hedge funds are extremely risky and are suitable for high-wealth investors only.
 

CASH RICH kæʃ rɪtʃ

05 Jul 2022

Noun

  • describes someone who has most of the wealth in cash.
Example Sentence: I keep all my money in the bank in a high-interest account. I consider myself to be cash rich.
 

INDIRECT TAXATION ɪndəˈrɛkt, tækˈseɪʃən

03 Jul 2022

Noun

  • includes taxes which are levied in an indirect way rather than being charged directly on an individual's income or estate.
Example Sentences: Tax on products, such as cigarettes, alcohol and petrol, is also a form of indirect taxation.
High indirect taxation tends to hit the poor far more than the rich.
 

DIRECT TAXATION dɪˈrɛkt tækˈseɪʃən

02 Jul 2022

Noun

  • includes taxes which are imposed directly on the individual paying them.
Example Sentences: Examples of direct taxation are income tax, capital gains tax and inheritance tax.
High direct taxation hits the rich hard.
 

TAX YEAR tæks yɪər

01 Jul 2022

Noun

  • The calendar year or fiscal period for which income tax is to be paid.
Example Sentence: In Hong Kong the tax year ends on 31 March.
 

TAX RETURN tæks rɪˈtɜrn

30 Jun 2022

Noun

  • Is a form on which certain tax payers annually list their salary (including pensions), or income from self employment together with benefits in kind, other income and capital gains.
Example Sentence: Don’t forget to get your tax return in by the end of the month. There’s a penalty if you send it in late.
 

TAX RELIEF tæks rɪˈlif

29 Jun 2022

Noun

  • Are amounts which you can deduct from your annual income to reduce the amount on which you have to pay tax.
Example Sentences: Tax relief that can be claimed in connection with employment includes travel expenses necessary for you to carry out your work and for which the employer does not pay.
I claimed tax relief on my Hong Kong business trip.
 

TAX HAVEN tæks heɪvən

28 Jun 2022

Noun

  • Is a country where companies or individuals may legally take advantage of lower taxation levels.
Example Sentence: Well-known tax havens include: Bermuda, British Virgin Islands, Gibraltar and the Isle of Man.
 

TAX EXILE tæks ɛksaɪl

27 Jun 2022

Noun

  • Is a wealthy person who lives outside his/her own country in order to minimise the tax they owe.
Example Sentence: Many wealthy people prefer to move to other countries and become tax exiles than reside in their birth countries where the tax rates are high.
Sean Connery is perhaps Scotland’s most famous tax exile.
 

TAX EVASION tæks ɪˈveɪʒən

26 Jun 2022

Noun

  • Is the minimising of the tax you owe by failing to declare taxable income or taxable capital gains or by submitting false information to the tax authorities.
Example Sentence: World famous Tenor Luciano Pavoratti was convicted of tax evasion in 1999, and ordered to pay a penalty of US$11 million to the Italian Courts.
 

TAX AVOIDANCE tæks əˈvɔɪdns

25 Jun 2022

Noun

  • Is working within the law to minimise the tax you owe.
Example Sentence: Richard has a really switched-on accountant who specialises in tax avoidance for self-employed people.
 

TAX ALLOWANCES tæks əˈlaʊəns

24 Jun 2022

Noun

  • Are concessions by the Inland Revenue which can be used to reduce a person's Taxable Income.
Example Sentence: Do you know how much the tax allowance is for a married person in Hong Kong?
 
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