Senate

Treasury Laws Amendment (Tax Integrity and Other Measures No. 2) Bill 2018

Revised Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon Scott Morrison MP)
This memorandum takes account of amendments made by the House of Representatives to the bill as introduced.

Chapter - Glossary

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

Abbreviation Definition
ABN Australian Business Number
ADI authorised deposit-taking institutions
APRA Australian Prudential Regulation Authority
Bill Treasury Laws Amendment (Tax Integrity and Other Measures No. 2) Bill 2018
DGR deductible gift recipient
G20 Group of 20 - comprising Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States and the European Union.
IBC ICC Business Corporation FZ-LLC
ITAA 1936 Income Tax Assessment Act 1936
ITAA 1997 Income Tax Assessment Act 1997
MYEFO Mid-Year Economic and Fiscal Outlook
OECD Organisation for Economic Co-operation and Development
OECD Action 2 Report OECD report on Neutralising the Effects of Hybrid Mismatch Arrangements, Action 2: 2015 Final Report
OECD Branch Mismatch Arrangements Report OECD report on Neutralising the Effects of Branch Mismatch Arrangements, Action 2: Inclusive Framework on BEPS
PE Permanent establishment
TOFA Taxation of financial arrangements


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