House of Representatives

Tax and Superannuation Laws Amendment (2013 Measures No. 2) Bill 2013

Explanatory Memorandum

(Circulated by the authority of the Deputy Prime Minister and Treasurer, the Hon Wayne Swan MP)


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

Abbreviation Definition
AAT Administrative Appeals Tribunal
ACMA Australian Communications and Media Authority
ATI adjusted taxable income
BAS Business Activity Statement
Commissioner Commissioner of Taxation
Cooper Review The Review into the Governance, Efficiency, Structure and Operation of Australia's Superannuation System
DGRs deductible gift recipients
DIRS Disaster Income Recovery Subsidy
DSTO dependent spouse tax offset
FHSA First Home Saver Accounts
GST goods and services tax
GST Act A New Tax System (Goods and Services Tax) Act 1999
ITAA 1997 Income Tax Assessment Act 1997
ITAA 1936 Income Tax Assessment Act 1936
LISC low income superannuation contribution
MLA 1986 Medicare Levy Act 1986
MYEFO Mid-Year Economic and Fiscal Outlook
NMETO net medical expenses tax offset
PDS product disclosure statement
QAPE qualifying Australian production expenditure
SIS Act Superannuation Industry (Supervision) Act 1993
SIS Regulations Superannuation Industry (Supervision) Regulations 1994
TIES Taxation Issues Entry System
TOFA Taxation of Financial Arrangements
TOFA Act Tax Laws Amendment (Taxation of Financial Arrangements) Act 2009
TOFA regime Taxation of Financial Arrangements regime

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