Senate
Taxation Laws Amendment Bill (No. 5) 2003
Supplementary Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)(This Memorandum takes account of amendments made by the House of Representatives to the Bill as introduced)
Glossary
The following abbreviations and acronyms are used throughout this revised explanatory memorandum.
| Abbreviation | Definition |
|---|---|
| A Tax System Redesigned | Review of Business Taxation: A Tax System Redesigned |
| ADI | authorised deposit-taking institution |
| APRA | Australian Prudential Regulation Authority |
| ASIC | Australian Securities and Investments Commission |
| ATO | Australian Taxation Office |
| CFE | controlled foreign entity |
| CGT | capital gains tax |
| Commissioner | Commissioner of Taxation |
| COT | continuity of ownership test |
| ETP | eligible termination payment |
| FBT | fringe benefits tax |
| FBTAA 1986 | Fringe Benefits Tax Assessment Act 1986 |
| FDA | foreign dividend account |
| ITAA 1936 | Income Tax Assessment Act 1936 |
| ITAA 1997 | Income Tax Assessment Act 1997 |
| MEC | multiple entry consolidated |
| PAYG | pay as you go |
| PBI | public benevolent institution |
| RBL | reasonable benefit limit |
| SBT | same business test |
| TAA 1953 | Taxation Administration Act 1953 |
| TC group | thin capitalisation group |
| TFN | tax file number |
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
