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PAYE is not a word but an acronym, standing for "pay as you earn". It is the system used in Australia and New Zealand (among other countries) whereby one's tax is automatically taken out of one's pay packet. The advantage of this system is that the worker does not have to worry about paying a tax bill at the end of the financial year, and he/she can also claim many benefits, receiving a cheque from the tax office after submitting his or her tax return.

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11y ago

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