House of Representatives

Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019

Explanatory Memorandum

(Circulated by authority of the Minister for Housing and Assistant Treasurer, the Hon. Michael Sukkar MP)

Glossary

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

Abbreviation Definition
ASIC Australian Securities and Investments Commission
ATO Australian Taxation Office
BAS Business Activity Statement
Bill Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019
Commissioner Commissioner of Taxation
Criminal Code The Schedule to the Criminal Code Act 1995
GIC General Interest Charge
GST Goods and Services Tax
GST Act A New Tax System (Goods and Services Tax) Act 1999
ICCPR International Covenant on Civil and Political Rights
LCT Luxury Car Tax
PAYG Pay-as-you-go
PRRT Petroleum Resource Rent Tax
RBA Running Balance Account
TAA 1953 Taxation Administration Act 1953
WET Wine Equalisation Tax


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