Senate
Treasury Laws Amendment (Tax Incentives and Integrity) Bill 2024
Revised Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Jim Chalmers MP)This memorandum takes account of amendments made by the House of Representatives to the bill as introduced.
Glossary
This Explanatory Memorandum uses the following abbreviations and acronyms.
| Abbreviation | Definition |
| ATO | Australian Taxation Office |
| BAS | Business activity statement |
| Bill | Treasury Laws Amendment (Tax Incentives and Integrity) Bill 2024 |
| Commissioner | Commissioner of Taxation |
| CPI | Consumer Price Index |
| FBT | Fringe benefits tax |
| GIC | General interest charge |
| GST | Goods and services tax |
| IAS | Instalment activity statement |
| ITAA 1997 | Income Tax Assessment Act 1997 |
| IT(TP) | Income Tax (Transitional Provisions) Act 1997 |
| LCT | Luxury Car Tax |
| LCTA 1999 | A New Tax System (Luxury Car Tax) Act 1999 |
| MYEFO | Mid-Year Economic and Fiscal Outlook |
| NEVS | National Electric Vehicle Strategy |
| PAYGI | Pay as you go instalment |
| PAYGW | Pay as you go withholding |
| RBA | Running balance account |
| SIC | Shortfall interest charge |
| TAA 1953 | Taxation Administration Act 1953 |
| WET | Wine equalisation tax |