House of Representatives
Coronavirus Economic Response Package Omnibus Bill 2020
Guarantee of Lending to Small and Medium Enterprises (Coronavirus Economic Response Package) Bill 2020
Australian Business Growth Fund (Coronavirus Economic Response Package) Bill 2020
Assistance for Severely Affected Regions (Special Appropriation) (Coronavirus Economic Response Package) Bill 2020
Assistance for Severely Affected Regions (Special Appropriation) (Coronavirus Economic Response Package) Act 2020
Structured Finance Support (Coronavirus Economic Response Package) Bill 2020
Structured Finance Support (Coronavirus Economic Response Package) Act 2020
Appropriation (Coronavirus Economic Response Package) Bill (No. 1) 2019-2020
Appropriation (Coronavirus Economic Response Package) Act (No. 1) 2019-2020
Appropriation (Coronavirus Economic Response Package) Bill (No. 2) 2019-2020
Appropriation (Coronavirus Economic Response Package) Act (No. 2) 2019-2020
Boosting Cash Flow for Employers (Coronavirus Economic Response Package) Bill 2020
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 |