New Business Tax System (Capital Allowances) 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.

Abbreviation Definition
11.45 am AEST on 21 September 1999 11.45 am, by legal time in the Australian Capital Territory, on 21 September 1999
A Platform for Consultation Review of Business Taxation: A Platform for Consultation
A Strong Foundation Review of Business Taxation: A Strong Foundation
AEST Australian Eastern Standard Time
ANTS Government's Tax Reform Document: Tax Reform: not a new tax, a new tax system
ATO Australian Taxation Office
CGT capital gains tax
Commissioner Commissioner of Taxation
CPI Consumer Price Index
GST goods and services tax
GST Act A New Tax System (Goods and Services Tax) Act 1999
IRU indefeasible right to use a portion of an international telecommunications submarine cable system
ITAA 1936 Income Tax Assessment Act 1936
ITAA 1997 Income Tax Assessment Act 1997
RSA retirement savings account
the Recommendations Review of Business Taxation: A Tax System Redesigned
the Review Review of Business Taxation

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