House of Representatives
Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Bill 2020
Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Josh Frydenberg MP)Glossary
The following abbreviations and acronyms are used throughout this explanatory memorandum.
| Abbreviation | Definition |
| 2020 budget time | 7.30 pm, by legal time in the Australian Capital Territory, on 6 October 2020 |
| ATO | Australian Taxation Office |
| Bill | Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Bill 2020 |
| Commissioner | Commissioner of Taxation |
| Coronavirus | Coronavirus known as COVID-19 |
| Decision-making principles | Industry Research and Development Decision-making Principles 2011 |
| GDP | Gross domestic product |
| GST | Goods and services tax |
| GST Act | A New Tax System (Good and Services Tax) Act 1999 |
| IR & D Act | Industry Research and Development Act 1986 |
| ISA | Innovation and Science Australia |
| ITAA 1936 | Income Tax Assessment Act 1936 |
| ITAA 1997 | Income Tax Assessment Act 1997 |
| ITTP Act | Income Tax (Transitional Provisions) Act 1997 |
| PAYG | Pay-As-You-Go |
| pooled development fund | |
| R & D | Research and development |
| R & D Tax Incentive | Research and development tax incentive |
| SES | Senior Executive Service |
| TAA 1953 | Taxation Administration Act 1953 |