Senate

A New Tax System (Indirect Tax and Consequential Amendments) Bill (No. 2) 1999

Revised Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)
THIS MEMORANDUM TAKES ACCOUNT OF AMENDMENTS MADE BY THE HOUSE OR REPRESENTATIVES TO THIS BILL AS INTRODUCED

Glossary

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

Abbreviation Definition
ABN Australian Business Number
ABN Act A New Tax System (Australian Business Number) Act 1999
AIA 1901 Acts Interpretation Act 1901
ATO Australian Taxation Office
CGT capital gains tax
Commissioner Commissioner of Taxation
CP & I Act Consular Privileges and Immunities Act 1972
CSFA Act A New Tax System (Commonwealth-State Financial Arrangements) Act 1999
CTA 1995 Customs Tariff Act 1995
Customs Act Customs Act 1901
DFRS Act Customs and Excise Amendment (Diesel Fuel Rebate Scheme) Act 1999
DP & I Act Diplomatic Privileges and Immunities Act 1967
Excise Act Excise Act 1901
GIC general interest charge
GST goods and services tax
GST Act A New Tax System (Goods and Services Tax) Act 1999
GST Transition Act A New Tax System (Goods and Services Tax Transition) Act 1999
HIA 1973 Health Insurance Act 1973
HIV human immunodeficiency virus
IO(P & I) Act International Organisations (Privileges and Immunities) Act 1963
ITAA 1997 Income Tax Assessment Act 1997
LCT luxury car tax
LCT Act A New Tax System (Luxury Car Tax) Act 1999
OM(P & I) Act Overseas Missions (Privileges and Immunities) Act 1995
PAYG Pay As You Go
PRRT Petroleum Resource Rent Tax
PRRTAA Petroleum Resource Rent Tax Assessment Act 1987
TAA Taxation Administration Act 1953
VAT value added tax
WET wine equalisation tax
WET Act A New Tax System (Wine Equalisation Tax) Act 1999
WET and LCT Transition Act A New Tax System (Wine Equalisation Tax and Luxury Car Tax Transition) Act 1999
WTAA 1964 Wool Tax (Administration) Act 1964