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House of Representatives

Tax Laws Amendment (Small Business) 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
CGT capital gains tax
Commissioner Commissioner of Taxation
GDP gross domestic product
GST goods and services tax
GST Act A New Tax System (Goods and Services Tax) Act 1999
ITAA 1936 Income Tax Assessment Act 1936
ITAA 1997 Income Tax Assessment Act 1997
PAYG pay as you go
STS simplified tax system
TAA 1953 Taxation Administration Act 1953


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