House of Representatives
Superannuation Legislation Amendment (Simplification) Bill 2007
Income Tax Amendment Bill 2007
Income Tax (Former Complying Superannuation Funds) Amendment Bill 2007
Income Tax (Former Non-resident Superannuation Funds) Amendment Bill 2007
Income Tax Rates Amendment (Superannuation) Bill 2007
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 |
|---|---|
| APRA | Australian Prudential Regulation Authority |
| asterisk (*) | refers to sections of the ITAA 1997 that are to be created by the main Bill |
| ATO | Australian Taxation Office |
| CGT | capital gains tax |
| Commissioner | Commissioner of Taxation |
| ETP | eligible termination payment |
| ITAA 1936 | Income Tax Assessment Act 1936 |
| ITAA 1997 | Income Tax Assessment Act 1997 |
| main Bill | Tax Laws Amendment (Simplified Superannuation) Bill 2006 |
| RBL | reasonable benefit limit |
| RSA | retirement savings account |
| SG | superannuation guarantee |
| TAA 1953 | Taxation Administration Act 1953 |
| TFN | tax file number |
| this Bill | Superannuation Legislation Amendment (Simplification) Bill 2007 |