House of Representatives

Taxation Laws Amendment Bill (No. 6) 2001

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
ATO Australian Taxation Office
CGT capital gains tax
Commissioner Commissioner of Taxation
GDP gross domestic product
GST goods and services tax
GST Act A New Tax System (Goods and Services Tax) Act 1999
GTL gas to liquids
GTP gas transfer price
HCS HIH Claims Support Limited
HIH Trust HIH Claims Support Trust
ITAA 1936 Income Tax Assessment Act 1936
ITAA 1997 Income Tax Assessment Act 1997
LIC listed investment company
MPC marketable petroleum commodity
PAYG pay as you go
PRRT petroleum resource rent tax
PRRTA Act Petroleum Resource Rent Tax Assessment Act 1987
PST pooled superannuation trust
SIS Act Superannuation Industry (Supervision) Act 1993
STB State and Territory body
TAA 1953 Taxation Administration Act 1953

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