House of Representatives

Taxation Laws Amendment Bill (No. 6) 2003

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 Tax System Redesigned Review of Business Taxation: A Tax System Redesigned
A$ Australian dollars
AASB Australian Accounting Standards Board
AAT Administrative Appeals Tribunal
ACA allocable cost amount
ASIC Australian Securities and Investments Commission
ATO Australian Taxation Office
BAS Business Activity Statement
CGT capital gains tax
Commissioner Commissioner of Taxation
CPI consumer price index
CTP compulsory third party
DGR deductible gift recipient
FBT fringe benefits tax
FBTAA 1986 Fringe Benefits Tax Assessment Act 1986
GIC general interest charge
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
IT(TP) Act 1997 Income Tax (Transitional Provisions) Act 1997
MEC multiple entry consolidated
MLA 1986 Medicare Levy Act 1986
MYEFO mid-year economic and fiscal outlook
NZ New Zealand
NZ$ New Zealand dollars
PAYG pay as you go
TAA 1953 Taxation Administration Act 1953

View full documentView full documentBack to top