House of Representatives
New Business Tax System (Taxation of Financial Arrangements) Bill (No. 1) 2003
Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)Glossary
The following abbreviations and acronyms are used throughout this explanatory memorandum.
| Abbreviation | Definition |
|---|---|
| A$ | Australian dollars |
| ¥ . | Japanese Yen |
| € . | Euro |
| £ . | United Kingdom (UK) pounds |
| US$ | United States (US) dollars |
| ADI | authorised deposit-taking institution |
| A Tax System Redesigned | Review of Business Taxation: A Tax System Redesigned |
| ATO | Australian Taxation Office |
| CFC | controlled foreign company |
| CGT | capital gains tax |
| Commissioner | Commissioner of Taxation |
| FIFO | first-in-first-out |
| forex | foreign exchange |
| ITAA 1936 | Income Tax Assessment Act 1936 |
| ITAA 1997 | Income Tax Assessment Act 1997 |
| OB | offshore banking |
| OBU | offshore banking unit |
| PE | permanent establishment |
| TAA 1953 | Taxation Administration Act 1953 |
| USA | United States of America |