House of Representatives

Tax Laws Amendment (2005 Measures No. 2) Bill 2005

Revised Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon Peter Costello MP)
This memorandum takes account of amendments made by the House of Representatives to the Bill as introduced.

Glossary

The following abbreviations and acronyms are used throughout this revised explanatory memorandum.

Abbreviation Definition
ATO Australian Taxation Office
BAS Business Activity Statement
CGT capital gains tax
Commissioner Commissioner of Taxation
DGR deductible gift recipients
domestic IRUs indefeasible rights to use domestic telecommunications cables
FBT fringe benefits tax
FBTAA 1986 Fringe Benefits Tax Assessment Act 1986
GST goods and services tax
GST Act A New Tax System (Goods and Services Tax) Act 1999
international IRU indefeasible rights to use international telecommunications cables
IRU indefeasible rights to use domestic and international telecommunications cables
ITAA 1936 Income Tax Assessment Act 1936
ITAA 1997 Income Tax Assessment Act 1997
member spouse is defined in section 90MD of the Family Law Act 1975 to mean, in relation to a superannuation interest, the spouse who has the superannuation interest
non-member spouse is defined in section 90MD of the Family Law Act 1975 to mean, in relation to a superannuation interest, the spouse who is not the member spouse in relation to the superannuation interest
PAYG pay as you go
payment split is defined in section 90MD of the Family Law Act 1975 to mean the application of section 90MJ of that Act, or a splitting order, in relation to a splittable payment
SIS Act Superannuation Industry Supervision Act 1993
TAA 1953 Taxation Administration Act 1953