House of Representatives
First Home Saver Accounts Bill 2008
Income Tax (First Home Saver Accounts Misuse Tax) Bill 2008
First Home Saver Accounts (Consequential Amendments) Bill 2008
Explanatory Memorandum
Circulated by the authority of the Treasurer, the Hon Wayne Swan MPGlossary
The following abbreviations and acronyms are used throughout this explanatory memorandum.
| Abbreviation | Definition |
| ABN | Australian Business Number |
| ADIs | authorised deposit-taking institutions |
| APRA | Australian Prudential Regulation Authority |
| APRA Act | Australian Prudential Regulation Authority Act 1998 |
| ASIC | Australian Securities and Investment Commission |
| ASIC Act | Australian Securities and Investments Commission Act 2001 |
| CGT | capital gains tax |
| Commissioner | Commissioner of Taxation |
| Corporations Act | Corporations Act 2001 |
| Corporations Regulations | Corporations Regulations 2001 |
| FHOG | First Home Owner Grant |
| FHSA | First Home Saver Accounts |
| FHSA (Consequential Amendments) Bill 2008 | First Home Saver Accounts (Consequential Amendments) Bill 2008 |
| FHSA Bill 2008 | First Home Savers Account Bill 2008 |
| Income Tax (FHSA Misuse Tax) Bill 2008 | Income Tax (First Home Saver Accounts Misuse Tax) Bill 2008 |
| ITAA 1936 | Income Tax Assessment Act 1936 |
| ITAA 1997 | Income Tax Assessment Act 1997 |
| PAYG | pay as you go |
| RSE | registrable superannuation entity |
| SIS Act | Superannuation Industry (Supervision) Act 1993 |
| SIS Regulations | Superannuation Industry (Supervision) Regulations 1994 |
| TAA 1953 | Taxation Administration Act 1953 |
| virtual PST | virtual pooled superannuation trust |