House of Representatives
International Tax Agreements Amendment Bill (No. 2) 2009
Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Wayne Swan MP)Glossary
The following abbreviations and acronyms are used throughout this explanatory memorandum.
| Abbreviation | Definition |
|---|---|
| Agreements Act 1953 | International Tax Agreements Act 1953 |
| AIL | approved issuer levy |
| ATO | Australian Taxation Office |
| CER | Australia New Zealand Closer Economic Relations Trade Agreement |
| CGT | capital gains tax |
| Commissioner | Commissioner of Taxation |
| DLC | dual listed company |
| existing Belgian Agreement | Agreement between Australia and the Kingdom of Belgium for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income signed at Canberra on 13 October 1977 as amended by the Protocol signed at Canberra on 20 March 1984 |
| existing New Zealand Agreement | Agreement between the Government of Australia and the Government of New Zealand for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income that was signed in Melbourne on 27 January 1995, and the Protocol Amending the Agreement between the Government of Australia and the Government of New Zealand for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income that was signed in Melbourne on 15 November 2005 |
| FBTAA 1986 | Fringe Benefits Tax Assessment Act 1986 |
| GATS | General Agreement on Trade in Services |
| GST | goods and services tax |
| ITAA 1936 | Income Tax Assessment Act 1936 |
| ITAA 1997 | Income Tax Assessment Act 1997 |
| MITs | managed investment trusts |
| OECD | Organisation for Economic Co-operation and Development |
| OECD Model | OECD Model Tax Convention on Income and on Capital |
| OECD Model Commentary | OECD Commentary to the OECD Model |
| Second Protocol | Second Protocol amending the Agreement between Australia and the Kingdom of Belgium for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income signed at Canberra on 13 October 1977 as amended by the Protocol signed at Canberra on 20 March 1984 |
| the Convention | Convention between Australia and New Zealand for the Avoidance of Double Taxation with respect to Taxes on Income and Fringe Benefits and the Prevention of Fiscal Evasion |
| the Jersey Agreement | Agreement between the Government of Australia and the Government of Jersey for the Allocation of Taxing Rights with Respect to Certain Income of Individuals and to Establish a Mutual Agreement Procedure in Respect of Transfer Pricing Adjustments |
| the Jersey Information Exchange Agreement | Agreement between the Government of Australia and the Government of Jersey for the Exchange of Information with Respect to Taxes |
| UK | United Kingdom of Great Britain and Northern Ireland |
| US | United States of America |