House of Representatives

Taxation Laws Amendment Bill (No. 8) 2000

Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)


The following abbreviations and acronyms are used throughout this Explanatory Memorandum.

Abbreviation Definition
ABN Australian Business Number
ANTS Government"s Tax Reform Document: Tax Reform: not a new tax, a new tax system
ATO Australian Taxation Office
BAS business activity statement
COIN company instalments
Commissioner Commissioner of Taxation
Customs Act Customs Act 1901
Customs Tariff Act Customs Tariff Act 1995
FBT fringe benefits tax
FBTAA 1986 Fringe Benefits Tax Assessment Act 1986
FBTI fringe benefits tax instalments
GST goods and services tax
GST Act A New Tax System (Goods and Services Tax) Act 1999
GST Regulations A New Tax System (Goods and Services Tax) Regulations 1999
GST Transition Act A New Tax System (Goods and Services Tax Transition) Act 1999
ITAA 1936 Income Tax Assessment Act 1936
ITAA 1997 Income Tax Assessment Act 1997
LCT luxury car tax
LCT Act A New Tax System (Luxury Car Tax) Act 1999
PAYG(I) pay as you go instalments
PAYG(W) pay as you go withholding
RBA running balance account
TAA 1953 Taxation Administration Act 1953
WET wine equalisation tax
WET Act A New Tax System (Wine Equalisation Tax) Act 1999
WET and LCT Transition Act A New Tax System (Wine Equalisation Tax and Luxury Car Tax Transition) Act 1999
WST wholesale sales tax

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