House of Representatives

Tax and Superannuation Laws Amendment (2016 Measures No. 1) Bill 2016

Explanatory Memorandum

(Circulated by the authority of the Treasurer, the Hon Scott Morrison MP)


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

Abbreviation Definition
ABARES Australian Bureau of Agricultural and Resources Economics and Sciences
ABN Australian Business Number
ADI Authorised Deposit-taking Institution
ATO Australian Taxation Office
Board Board of Taxation
Commissioner Commissioner of Taxation
FMD farm management deposit
GST goods and services tax
GST Act A New Tax System (Goods and Services Tax) Act 1999
Intangibles things other than goods or real property
ISP internet service provider
ITAA 1997 Income Tax Assessment Act 1997
ITC input tax credit
ITZ indirect tax zone
OECD Organisation for Economic Co-operation and Development
TAA 1953 Taxation Administration Act 1953
VAT value added tax
White Paper Agricultural Competitiveness White Paper

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