House of Representatives
Tax Laws Amendment (2005 Measures No. 5) Bill 2005
Explanatory Memorandum
(Circulated by the authority of the Treasurer, the Hon Peter Costello MP)Glossary
The following abbreviations and acronyms are used throughout this explanatory memorandum.
| Abbreviation | Definition |
|---|---|
| ABS | Australian Bureau of Statistics |
| AGAAP | Australian generally accepted accounting principles as they existed at 31 December 2004 |
| AIFRS | Australian international financial reporting standards from 1 January 2005 |
| APRA | Australian Prudential Regulation Authority |
| ASIC | Australian Securities and Investment Commission |
| ATO | Australian Taxation Office |
| Commissioner | Commissioner of Taxation |
| CGT | capital gains tax |
| FaCS Secretary | the Secretary to the Department of Family and Community Services |
| GST | goods and services tax |
| GST Act | A New Tax System (Goods and Services Tax) Act 1999 |
| ITAA 1936 | Income Tax Assessment Act 1936 |
| ITAA 1997 | Income Tax Assessment Act 1997 |
| MEC | multiple entry consolidated |
| PAYG | pay as you go |
| STS | simplified tax system |
| TAA 1953 | Taxation Administration Act 1953 |
| WET | wine equalisation tax |