Abbreviations

$A

Australian dollars

ABN

Australian business number

ABR

Australian Business Register

ACN

Australian company number

ACT

Australian Capital Territory

AIIR

Annual investment income report

ANZSIC

Australian and New Zealand Standard Industrial Classification

ASIC

Australian Securities & Investments Commission

BSB

Bank State Branch

CBC

country by country

CFC

controlled foreign company

CFT

controlled foreign trust

CGT

capital gains tax

CFI

conduit foreign income

Commissioner

Commissioner of Taxation

CRC

co-operative research centre

DGR

deductible gift recipient

DIP

designated infrastructure project

DTA

Double tax agreement

DVS

direct value shifting

EFT

electronic funds transfer

EPA

environmental protection activities

ESVCLP

early stage venture capital limited partnership

FBT

fringe benefits tax

FBTAA

Fringe Benefits Tax Assessment Act

FDT

franking deficit tax

FITO

foreign income tax offset

FMIS

forestry managed investment scheme

FOREX

foreign exchange

FTDT

family trust distribution tax

GIC

general interest charge

GPFS

general purpose financial statement

GST

goods and services tax

GVSR

general value shifting regime

IEP

interest on early payments

IRUs

indefeasible rights to use telecommunications cable systems

ITAA

Income Tax Assessment Act

IT(TP) Act

Income Tax (Transitional Provisions) Act

IVS

indirect value shifting

LGC

Large Generation Certificate

LIC

listed investment company

MEC

multiple entry consolidated

NCMI

non-concessional MIT income

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

PLS

practitioner lodgment service

PRRT

petroleum resource rent tax

PRRTAA

Petroleum Resource Rent Tax Assessment Act

PSB

personal services business

PSI

personal services income

R&D

research and development

RSA

retirement savings account

RSP

research service provider

RTP

Reportable tax position

SAP

substituted accounting period

SGAA

Superannuation Guarantee (Administration) Act

SGE

significant global entity

SME

small and medium enterprises

STS

simplified tax system

TAA

Taxation Administration Act

TBNT

trustee beneficiary non-disclosure tax

TFN

tax file number

TOFA

taxation of financial arrangements

UCA

uniform capital allowances

WIP

work in progress