Senate
Taxation Laws Amendment Bill (No. 8) 2000
Taxation Laws Amendment Act (No. 8) 2000
Revised Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)
THIS MEMORANDUM TAKES ACCOUNT OF AMENDMENTS MADE BY THE HOUSE OF REPRESENTATIVES TO THE BILL AS INTRODUCED
Glossary
The following abbreviations and acronyms are used throughout this Explanatory Memorandum.
| Abbreviation | Definition |
|---|---|
| ABN | Australian Business Number |
| ANTS | Governments 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 |