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House of Representatives

A New Tax System (Tax Administration) Bill 1999

Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)


The following abbreviations and acronyms are used throughout this Explanatory Memorandum.

AAT Administrative Appeals Tribunal
ABN Australian Business Number
ABNA 1999 A New Tax System (Australian Business Number) Act 1999
ABR Australian Business Register
ANTS Government's Tax Reform Document: Tax Reform: not a new tax, a new tax system
ATO Australian Taxation Office
BAS business activity statement
CGT capital gains tax
Commissioner Commissioner of Taxation
DCOIN deferred company instalments
DIR dividend, interest and royalty
ETP eligible termination payment
FBT fringe benefits tax
FBTAA 1986 Fringe Benefits Tax Assessment Act 1986
FBTI fringe benefits tax instalments
FMD farm management deposit
FNP Failure to Notify Penalty
FS Student financial supplement
GDP gross domestic product
GIC general interest charge
GST Goods and Services Tax
GSTA 1999 A New Tax System (Goods and Services Tax) Act 1999
GSTAA A New Tax System (Goods and Services Tax Administration) Act 1999
HECS Higher Education Contribution Scheme
ITAA 1936 Income Tax Assessment Act 1936
ITAA 1997 Income Tax Assessment Act 1997
ITAR 1997 Income Tax Assessment Regulations 1997
ITI income tax instalments
ITR 6 Income Tax Regulations 6
ITW income tax withholding
LCT luxury car tax
MWT mining withholding tax
NRP natural resource payments
PAYE Pay as you earn
PAYG Pay as you go
PAYG Bill A New Tax System (Pay As You Go) Bill 1999 [F1]
PPS Prescribed Payments System
PRRT Petroleum Resource Rent Tax Assessment Act 1987
RBA running balance account
Registrar ABN Registrar
RPS Reportable Payments System
SCTAC 1997 Superannuation Contributions Tax (Assessment and Collection) Act 1997
SCTM 1997 Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Act 1997
SGAA 1992 Superannuation Guarantee (Administration) Act 1992
SPOR shorter period of review
STAA 1992 Sales Tax Assessment Act 1992
T(IOEP)A 1983 Taxation (Interest on Overpayments and Early Payments) Act 1983
TAA 1953 Taxation Administration Act 1953
TAR 1953 Taxation Administration Regulations 1953
Taxation law Acts of which the Commissioner has general administration, or regulations under such an Act
TCAA 1955 Tobacco Charges Assessment Act 1955
TFN tax file number
TLAA3 1999 Taxation Laws Amendment Act (No. 3) 1999
TLIP Taxation Law Improvement Project
top marginal rate The top marginal tax rate plus the standard Medicare Levy. From 1 July 2000 this will be 48.5%
TPTAC 1997 Termination Payments Tax (Assessment and Collection) Act 1997
WET wine equalisation tax
WTAA Wool Tax (Administration) Act 1964

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