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House of Representatives

Taxation Laws Amendment Bill (No. 8) 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
CGT capital gains tax
Commissioner Commissioner of Taxation
FBT fringe benefits tax
FDT franking deficit tax
FMD farm management deposits
IT(TP) Act 1997 Income Tax (Transitional Provisions) Act 1997
ITAA 1936 Income Tax Assessment Act 1936
ITAA 1997 Income Tax Assessment Act 1997
MEC groups multiple entry consolidated groups
PAYG pay as you go
SIS simplified imputation system
TAA 1953 Taxation Administration Act 1953

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