House of Representatives
New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Bill 2002
Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)Glossary
The following abbreviations and acronyms are used throughout this explanatory memorandum.
| Abbreviation | Definition |
|---|---|
| A Platform for Consultation | Review of Business Taxation: A Platform for Consultation |
| A Tax System Redesigned | Review of Business Taxation: A Tax System Redesigned |
| ATO | Australian Taxation Office |
| AVM | adjustable value method |
| CFC | controlled foreign company |
| CGT | capital gains tax |
| Commissioner | Commissioner of Taxation |
| Consolidation Bill | New Business Tax System (Consolidation) Bill (No. 1) 2002 |
| DVS | direct value shifting |
| FDT | franking deficit tax |
| FIF | foreign investment fund |
| FLP | foreign life assurance policy |
| GST | goods and services tax |
| GVSR | general value shifting regime |
| Imputation Bill | New Business Tax System (Imputation) Bill 2002 |
| IT(TP) Act 1997 | Income Tax (Transitional Provisions) Act 1997 |
| ITAA 1936 | Income Tax Assessment Act 1936 |
| ITAA 1997 | Income Tax Assessment Act 1997 |
| IVS | indirect value shifting |
| MEC | multiple entry consolidated |
| SAP | substituted accounting period |
| STS | simplified tax system |
| TAA 1953 | Taxation Administration Act 1953 |