House of Representatives

International Tax Agreements Amendment Bill (No. 2) 2009

Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon Wayne Swan MP)

Glossary

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

Abbreviation Definition
Agreements Act 1953 International Tax Agreements Act 1953
AIL approved issuer levy
ATO Australian Taxation Office
CER Australia New Zealand Closer Economic Relations Trade Agreement
CGT capital gains tax
Commissioner Commissioner of Taxation
DLC dual listed company
existing Belgian Agreement Agreement between Australia and the Kingdom of Belgium for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income signed at Canberra on 13 October 1977 as amended by the Protocol signed at Canberra on 20 March 1984
existing New Zealand Agreement Agreement between the Government of Australia and the Government of New Zealand for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income that was signed in Melbourne on 27 January 1995, and the Protocol Amending the Agreement between the Government of Australia and the Government of New Zealand for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income that was signed in Melbourne on 15 November 2005
FBTAA 1986 Fringe Benefits Tax Assessment Act 1986
GATS General Agreement on Trade in Services
GST goods and services tax
ITAA 1936 Income Tax Assessment Act 1936
ITAA 1997 Income Tax Assessment Act 1997
MITs managed investment trusts
OECD Organisation for Economic Co-operation and Development
OECD Model OECD Model Tax Convention on Income and on Capital
OECD Model Commentary OECD Commentary to the OECD Model
Second Protocol Second Protocol amending the Agreement between Australia and the Kingdom of Belgium for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income signed at Canberra on 13 October 1977 as amended by the Protocol signed at Canberra on 20 March 1984
the Convention Convention between Australia and New Zealand for the Avoidance of Double Taxation with respect to Taxes on Income and Fringe Benefits and the Prevention of Fiscal Evasion
the Jersey Agreement Agreement between the Government of Australia and the Government of Jersey for the Allocation of Taxing Rights with Respect to Certain Income of Individuals and to Establish a Mutual Agreement Procedure in Respect of Transfer Pricing Adjustments
the Jersey Information Exchange Agreement Agreement between the Government of Australia and the Government of Jersey for the Exchange of Information with Respect to Taxes
UK United Kingdom of Great Britain and Northern Ireland
US United States of America


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