Abbreviations

A$

Australian dollars

ABN

Australian business number

ABR

Australian Business Register

ACN

Australian Company Number

ACT

Australian Capital Territory

ADI

Authorised Deposit-taking Institution

AGAAP

Australian Generally Accepted Accounting Principles

ANZSIC

Australian and New Zealand Standard Industrial Classification

CFC

controlled foreign company

CGT

capital gains tax

Commissioner

Commissioner of Taxation

DGR

deductible gift recipient

DTA

double-tax agreement

DVS

direct value shifting

EFT

electronic funds transfer

ELS

electronic lodgment service

EPA

environmental protection activities

FaHCSIA

Department of Families, Housing, Community Services and Indigenous Affairs

FBT

fringe benefits tax

FDT

franking deficit tax

FMIS

forestry managed investment scheme

forex

foreign exchange

FTDT

family trust distribution tax

GDP

gross domestic product

GST

goods and services tax

GVSR

general value shifting regime

IRUs

indefeasible rights to use telecommunications cable systems

ITAA

Income Tax Assessment Act

IVS

indirect value shifting

LIC

listed investment company

MEC

multiple entry consolidated

NRAS

National rental affordability scheme

OB

offshore banking

OBU

offshore banking unit

OFT

over-franking tax

PAYG

pay as you go

PDF

pooled development fund

PE

permanent establishment

PHC

provisional head company

PSI

personal services income

PST

pooled superannuation trust

R&D

research and development

RBA

running balance account

RSA

retirement savings account

SME

small and medium enterprises

STS

simplified tax system

TBNT

trustee beneficiary non-disclosure tax

TFN

tax file number

TOFA

taxation of financial arrangements

UCA

uniform capital allowances