Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon. Josh Frydenberg MP)Glossary
The following abbreviations and acronyms are used throughout this explanatory memorandum.
Abbreviation | Definition |
ABN | Australian Business Number |
Account | Structured Finance Support (Coronavirus Economic Response) Fund Special Account |
Acts Interpretation Act | Acts Interpretation Act 1901 |
AOFM | Australian Office of Financial Management |
Appropriation Bill No. 1 | Appropriation (Coronavirus Economic Response Package) Bill (No. 1) 2019-2020 |
Appropriation Bill No. 2 | Appropriation (Coronavirus Economic Response Package) Bill (No. 2) 2019-2020 |
Assistance for Severely Affected Regions Bill | Assistance for Severely Affected Regions (Special Appropriation) (Coronavirus Economic Response Package) Bill 2020 |
ATO | Australian Taxation Office |
Bill | Coronavirus Economic Response Package Omnibus Bill 2020 |
Business Growth Fund Bill | Australian Business Growth Fund (Coronavirus Economic Response Package) Bill 2020 |
Cash Flow Boost Bill | Boosting Cash Flow for Employers (Coronavirus Economic Response Package) Bill 2020 |
CEO | Chief Executive Officer |
Charter of Budget Honesty | Charter of Budget Honesty Act 1988 |
Commissioner | Commissioner of Taxation |
Coronavirus | Coronavirus known as COVID-19 |
Corporations Act | Corporations Act 2001 |
Corporations Regulations | Corporations Regulations 2001 |
CPI | consumer price index |
CSHC | Commonwealth Seniors Health Card |
DRCA | Safety, Rehabilitation and Compensation (Defence-related Claims) Act 1988 |
Family Assistance Act | A New Tax System (Family Assistance) Act 1999 |
Family Assistance Administration Act | A New Tax System (Family Assistance) (Administration) Act 1999 |
Family Assistance Law | Family Assistance Act, Family Assistance Administration Act and relevant subordinate legislation |
FHA | Farm Household Allowance |
FTB | Family Tax Benefit |
Fund | Structured Finance Support (Coronavirus Economic Response) Fund |
GDP | gross domestic product |
GST | goods and services tax |
IMF | International Monetary Fund |
ITAA 1936 | Income Tax Assessment Act 1936 |
ITAA 1997 | Income Tax Assessment Act 1997 |
ITTP Act 1997 | Income Tax (Transitional Provisions) Act 1997 |
Legislation Act | Legislation Act 2003 |
MEC group | multiple entry consolidated group |
Minister's rules | Child Care Subsidy Minister's Rules 2017 |
MRCA | Military Rehabilitation and Compensation Act 2004 |
OECD | Organisation for Economic Co-operation and Development |
PCC | Pensioner Concession Card |
PGPA Act | Public Governance, Performance and Accountability Act 2013 |
RBA | Reserve Bank of Australia |
RSA Act | Retirement Savings Accounts Act 1997 |
RSA Regulations | Retirement Savings Accounts Regulations 1997 |
SES employee | Senior Executive Service employee |
SIS Act | Superannuation Industry (Supervision) Act 1993 |
SIS Regulations | Superannuation Industry (Supervision) Regulations 1994 |
SME | Small and medium enterprise |
SME Lending Guarantee Bill | Guarantee of Lending to Small and Medium Enterprises (Coronavirus Economic Response Package) Bill 2020 |
Social Security Act | Social Security Act 1991 |
Social Security Administration Act | Social Security (Administration) Act 1999 |
Structured Finance Support Bill | Structured Finance Support (Coronavirus Economic Response Package) Bill 2020 |
Surcharge | Medicare levy surcharge |
TAA 1953 | Taxation Administration Act 1953 |
Threshold amount | Medicare levy and Medicare levy surcharge low-income threshold amount |
Veterans' Entitlements Act | Veterans' Entitlements Act 1986 |
Youth Allowance (other) | People qualified for Youth Allowance (other) who are not undertaking full-time study and are not a new apprentice |