House of Representatives
Treasury Laws Amendment (Tax Reform No. 1) Bill 2026
Income Tax Rates Amendment (Tax Reform No. 1) Bill 2026
Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Jim Chalmers MP)Glossary
This Explanatory Memorandum uses the following abbreviations and acronyms.
| Abbreviation | Definition |
| ACT | Australian Capital Territory |
| AEST | Australian Eastern Standard Time |
| AMIT | Attribution managed investment trust |
| ATO | Australian Tax Office |
| Bill | Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 |
| CGT | Capital Gains Tax |
| FBT | fringe benefits tax |
| FBTAA | Fringe Benefits Tax Assessment Act 1986 |
| ICCPR | International Covenant on Civil and Political Rights |
| ICESCR | International Covenant on Economic, Social and Cultural Rights |
| Imposition Bill | Income Tax Rates Amendment (Tax Reform No. 1) Bill 2026 |
| ITAA 1936 | Income Tax Assessment Act 1936 |
| ITAA 1997 | Income Tax Assessment Act 1997 |
| ITTP Act | Income Tax (Transitional Provisions) Act 1997 |
| MIT | Managed investment trust |
| Rates Act | Income Tax Rates Act 1986 |
| SAPTO | seniors and pensioners tax offset |
| TAA 1953 | Taxation Administration Act 1953 |
| WATO | working Australians tax offset |