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House of Representatives

Treasury Laws Amendment (Cost of Living Support and Other Measures) Bill 2022

Excise Tariff Amendment (Cost of Living Support) Bill 2022

Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon. Josh Frydenberg MP)

Glossary

This Explanatory Memorandum uses the following abbreviations and acronyms.

Abbreviation Definition
ABS Australian Bureau of Statistics
ASIC Australian Securities and Investments Commission
CEO Chief Executive Officer
Commissioner Commissioner of Taxation
COVID-19 Coronavirus known as COVID-19
CPI Consumer Price Index
Customs Bill Customs Tariff Amendment (Cost of Living Support) Bill 2022
Customs Tariff Act Customs Tariff Act 1995
Excise Bill Excise Tariff Amendment (Cost of Living Support) Bill 2022
Excise Tariff Act Excise Tariff Act 1921
FBT Fringe benefits tax
FBTAA 1986 Fringe Benefits Tax Assessment Act 1986
GDP gross domestic product
GST goods and services tax
ICCPR International Covenant on Civil and Political Rights
ICESCR International Covenant on Economic, Social and Cultural Rights
ITAA 1997 Income Tax Assessment Act 1997
main Bill Treasury Laws Amendment (Cost of Living Support and Other Measures) Bill 2022
MYEFO Mid-year Economic and Fiscal Outlook
PAYG pay as you go
PBS Pharmaceutical Benefits Scheme
SAPTO Seniors and pensioners tax offset
Social Security Act Social Security Act 1991
TAA 1953 Taxation Administration Act 1953
Threshold amount Medicare levy and Medicare levy surcharge low-income threshold amount
Veterans' Entitlements Act Veterans' Entitlements Act 1986


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