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House of Representatives

New International Tax Arrangements (Foreign-owned Branches and Other Measures) Bill 2005

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
APRA Australian Prudential Regulation Authority
ATO Australian Taxation Office
Australian company Australian resident company
Australian dividends dividends paid by an Australian company
CGT capital gains tax
Consultation Paper the Treasury's consultation paper - Review of International Taxation Arrangements
ITAA 1936 Income Tax Assessment Act 1936
ITAA 1997 Income Tax Assessment Act 1997
MEC group multiple entry consolidated group
NITA Act 2004 New International Tax Arrangements (Participation Exemption and Other Measures) Act 2004
OECD Organisation for Economic Co-operation and Development
the Board's Report the Board of Taxation's report - International Taxation - A Report to the Treasurer

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