House of Representatives

Tax Laws Amendment (Research and Development) Bill 2010

Income Tax Rates Amendment (Research and Development) Bill 2010

Explanatory Memorandum

(Circulated by the authority of the Treasurer, the Hon Wayne Swan MP)


The following abbreviations and acronyms are used throughout this explanatory memorandum.

Abbreviation Definition
AAT Administrative Appeals Tribunal
AAT Act Administrative Appeals Tribunal Act 1975
ATO Australian Taxation Office
Bill Tax Laws Amendment (Research and Development) Bill 2010
CGT capital gains tax
Commissioner Commissioner of Taxation
GST goods and services tax
IR & D Act Industry Research and Development Act 1986
ITAA 1936 Income Tax Assessment Act 1936
ITAA 1997 Income Tax Assessment Act 1997
IT(TP) Act 1997 Income Tax (Transitional Provisions) Act 1997
MEC group multiple entry consolidated group
OECD Model Organisation for Economic Co-operation and Development Model Tax Convention on Income and on Capital
PAYG pay as you go
R & D research and development
TAA 1953 Taxation Administration Act 1953
the Board Innovation Australia

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