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Stands for "it's okay". It basically means "you're welcome". Often used in reply (via messenger, email etc.) to "thank you".
John: Oh I found the address of that website you wanted.
Ryan: Cheers.
John: 'ts kay.


Lisa: I've got that book you lent me the other day; I'll give it to you at school tomorrow.
Sarah: Thanks.
Lisa: 'ts kay.
by aussie.elle July 10, 2008
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