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 |
ATO | Australian Taxation Office |
CFC | controlled foreign company |
CGT | capital gains tax |
Commissioner | Commissioner of Taxation |
Federal Court | Federal Court of Australia |
GST | goods and services tax |
GST Act | A New Tax System (Goods and Services Tax) Act 1999 |
ITAA 1936 | Income Tax Assessment Act 1936 |
ITAA 1997 | Income Tax Assessment Act 1997 |
IT(TP) Act 1997 | Income Tax (Transitional Provisions) Act 1997 |
PAYG | pay as you go |
PAYE | pay as you earn |
STS | Simplified Tax System |
TAA 1953 | Taxation Administration Act 1953 |