House of Representatives

New Business Tax System (Imputation) Bill 2002

New Business Tax System (Over-franking Tax) Bill 2002

New Business Tax System (Franking Deficit Tax) Bill 2002

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
A Platform for Consultation Review of Business Taxation: A Platform for Consultation
A Tax System Redesigned Review of Business Taxation: A Tax System Redesigned
ADI authorised deposit-taking institution
ATO Australian Taxation Office
Commissioner Commissioner of Taxation
ITAA 1936 Income Tax Assessment Act 1936
ITAA 1997 Income Tax Assessment Act 1997
PAYG pay as you go
PST pooled superannuation trust
TAA 1953 Taxation Administration Act 1953

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