House of Representatives

Tax Laws Amendment (2009 Measures No. 3) Bill 2009

Explanatory Memorandum

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


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

Abbreviation Definition
Commissioner Commissioner of Taxation
DGRs deductible gift recipients
GDP gross domestic product
GDP adjustment factor GDP adjustment
GDP adjustment method PAYG instalments on the basis of the GDP-adjusted notional tax
GST goods and services tax
GST Act A New Tax System (Goods and Services Tax) Act 1999
PAYG pay as you go
PRRT petroleum resource rent tax
PRRT Act Petroleum Resource Rent Tax Assessment Act 1987

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