House of Representatives

Taxation Laws Amendment Bill (No. 5) 2002

Explanatory Memorandum

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

Glossary

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

Abbreviation Definition
ATO Australian Taxation Office
CFC controlled foreign company
CGT capital gains tax
Commissioner Commissioner of Taxation
Federal Court Federal Court of Australia
GST goods and services tax
GST Act A New Tax System (Goods and Services Tax) Act 1999
ITAA 1936 Income Tax Assessment Act 1936
ITAA 1997 Income Tax Assessment Act 1997
IT(TP) Act 1997 Income Tax (Transitional Provisions) Act 1997
PAYG pay as you go
PAYE pay as you earn
STS Simplified Tax System
TAA 1953 Taxation Administration Act 1953