Glossary
ATO	Australian Taxation Office	
ANAO	Australian National Audit Office	
CFC	Controlled foreign company	
CGT	Capital gains tax	
CPRS	Carbon Pollution Reduction Scheme	
CSS	Commonwealth Superannuation Scheme	
ETM	Economic Transactions Method	
FBT	Fringe benefits tax	
FMD	Farm management deposit	
FTB	Family Tax Benefit	
GDP	Gross domestic product	
GFC	Global Financial Crisis	
GST	Goods and services tax	
HECS	Higher Education Contribution Scheme	
HELP	Higher Education Loans Program	
JCPAA	Joint Committee of Public Accounts and Audit	
MYEFO	Mid-Year Economic and Fiscal Outlook	
OECD	Organisation for Economic Co-operation and Development	
PEFO	Pre-election Economic and Fiscal Outlook	
PRRT	Petroleum resource rent tax	
PSS	Public service superannuation	
R&D	Research and development	
SATO	Senior Australians’ Tax Offset	
TES	Tax Expenditures Statement	
TLM	Tax Liability Method	
WET	Wine equalisation tax	
	
	Index

A
Accelerated depreciation
Mining buildings, 102
Software, 105
Active small business assets, 117, 129, 162, 167
Advanced shearing, 82
Allowances, 48, 51
Alternative transport fuels, 172
Animals acquired by natural increase, 85
Approved Deposit Fund, 129
Approved overseas projects, 33
Artists, 55, 64
Asian Development Bank, 50
At call loans, 116
Australian and State Government loans, 115
Australian branch of a foreign bank, 71
Australian Defence Force personnel, 36, 37, 38, 39, 132
Australian Defence Force Reserve personnel, 37, 38
Australian Federal Police personnel, 39
Australian Film Finance Corporation, 79
Australian military seagoing vessels, 177
Australian Traineeship System, 140
Authors, 55
Aviation gasoline, 170
Aviation turbine fuel, 170
B
Baby Bonus, 46, 53
Balancing adjustments, 106
Benefits, 51
Board meals, 145
Boat expenditure, 87
Bonus tax deduction, 111
Brandy, 173
Brew‑on‑premise beer, 173
Broadcasting licences, 86
Buildings and structures, 102
Business associations, 56
C
Capital gains tax discount, 155, 159
Capital gains tax market value substitution rule, 165
Capital gains tax roll‑over, 129, 153, 158
Capital losses, 166
Capital protected borrowings, 89
Capital works expenditure, 106
Car expense deductions, 60
Car limit, 87, 176
Carbon Pollution Reduction Scheme
Agriculture, 195
Decommissioned mines, 195
Deforestation, 194
Emissions threshold, 193
Landfill sites, 193, 194
Carbon sink forests, 108
Care and specialist disability providers, 188
Carried interests, 89
Charitable funds, 74, 93
Charitable institutions, 74, 94, 144
Charities, 183
Charities entertainment, 73
Child care, 184
Child Care Benefit, 47, 52
Child Care Tax Rebate, 46, 48
Childcare facilities, 135
Child‑housekeeper, 49
Cigarettes and cigars, 172
Clubs, 74, 78
Commonwealth Superannuation Scheme, 129
Commuter travel, 137
Compassionate travel, 147
Compensation‑related benefits, 140
Composers, 55
Compulsorily acquired assets, 164
Condensate excise‑free status, 181
Conservation covenants, 154
Controlled foreign companies, 70, 160
Convertible interests, 166
Co‑operative companies, 115
Credit unions, 96
Cross‑border transport supplies, 191
Cultural Bequests and Cultural Gifts programs, 156
Customs duty, 178
Cyclone Larry, 76
Cyclone Monica, 76
D
Debentures, 70
Debt, 91
Debt interests, 70, 116
Debt‑equity rules, 90
Decorations awarded for valour or brave conduct, 153
Deductible gift recipient, 62
Deductible gift recipients, 94, 140, 183
Defence Service Homes, 132
Demutualisation, 157
Dependent spouse, 49
Depreciating assets to zero value, 107
Depreciation pooling for low value assets, 107
Destroyed assets, 164
Development Allowance Authority, 104
Diplomatic missions, 177, 185
Draught beer, 174
E
Education costs, 133
Education supplies, 186
Education Tax Refund, 40
Educational allowance income, 41
Educational institutions, 74
Election candidates, 32
Emergency assistance, 134
Employee share scheme, 56
Entrepreneurs’ tax offset, 88
Environmental impact studies, 103
Environmental protection activities, 103
Exploration, 104
Exploration expenditure, 181
F
Family trust rules, 97
Farm Help program, 85
Farm Management Deposit, 83
Film
Capital expenditure, 98
Division 10B deduction, 98
Division 10BA deduction, 98
Film Licensed Investment Company, 97
Refundable film tax offset, 77
Financial acquisitions threshold, 182
Financial instruments, 166
Financial Services Reform, 161
Financial supplies, 182, 183
First child tax offset, 53
First Home Owners Grant Scheme, 54
First Home Saver Accounts, 45, 61
Food, 192
Forced disposal or death of livestock, 82
Foreign bank, 67
Foreign branch income, 69
Foreign currency gains and losses, 75
Foreign forces, 38
Foreign service, 34
Foreign superannuation funds, 93
Forestry managed investment schemes, 115
Forestry prepayments, 80
Fringe benefits tax
Allowances, accommodation and food benefits, 151
Board fringe benefits, 150
Car benefits, 142
Car parking benefits, 143, 146
In‑house property fringe benefits, 146
In‑house residual fringe benefits, 146
Loan benefits, 142
Minor benefits, 149
Fuel efficient cars, 176
Fuel oil, 171
G
Gas transfer price regulations, 180
Gifts, 63
Goods and Services Tax
Importation threshold, 186
Registration threshold, 183, 190
Simplified accounting methods, 190
Governor‑General, 33
Grapevine plantings, 98
Grouped foreign company, 109
GST‑related plant and software deduction, 108
H
Heating oil, 171
High sulphur diesel, 169
Higher Education Contribution Scheme Higher Education Loan Programme, 40
Holiday transport, 145, 151
Horse breeding stock, 99
Horticultural plants, 100
Hospitals, 72, 74, 133
Housekeeper, 49
Housing benefits, 136
I
Illegal activities, 57
Imported services, 186
Indexed cost base, 158
Information exchange countries, 114
Infrastructure Bonds Scheme, 85
Insurance recoveries, 84
International organisations, 66, 131, 185
International tax treaties, 66
Inventors, 55
K
Kerosene, 171
L
Land Transport Infrastructure Borrowings Tax Offset Scheme, 85, 86
Landcare, 99, 100, 101
Leaded petrol, 170
Life insurance investment, 72
Listed investment company, 160
Live‑in employees, 134
Long service awards, 139
Lost assets, 164
Low‑strength beer, 174
Low‑value depreciating assets, 64
M
Main residence, 154, 155, 156
Managed investment trusts, 114
Marriage breakdown, 163
Maternity Immunisation Allowance, 46
Maternity Payment, 46
Mature Age Worker Tax Offset, 50
Medical aid or appliance, 187
Medical defence organisation, 153
Medical expenses, 43
Medical services, 188
Medicare
Levy exemption, 36, 44
Levy surcharge, 44
Levy threshold, 42
Medicines, 187
Microbreweries, 175
Military compensation payments, 132
Mining and quarrying, 104
Mining payments, 73
Mining, petroleum and quarrying operation, 102
Minor private use of company motor vehicle, 149
Mortgage and Rent Relief Scheme, 53
Motor vehicle parking, 148
Municipal corporations, 116
N
National Guarantee Fund, 65
National Rental Affordability Scheme, 114
National Urban Water and Desalination Plan, 113
Natural disasters, 76
Non‑commercial loss provisions, 59, 64
Non‑portfolio dividends, 70
Non‑profit, non‑government bodies, 151
Non‑superannuation termination payments, 118
Norfolk Island residents, 36
Not‑for‑profit company, 75
Not‑for‑profit societies and associations, 74, 78
O
Occupational health and counselling services, 140, 141
Occupational health or safety awards, 136
Off‑market share buy‑back, 75
Offshore banking units, 68
Overseas charitable institutions, 66
Overseas medical treatment, 134
Overtime meal allowance, 59
P
Part‑year tax free threshold, 59
Pensions, 48, 51, 57
Performing artists, 55
Perpetual subordinated debt, 91
Personal injury compensation cases, 63
Personal injury victims, 63
Petroleum exploration, 180
Political donations, 113
Pooled Development Funds, 71, 90, 92
Prepayments, 79, 81
Prescribed international organisations, 35
Primary producers, 64, 84, 99, 100, 101, 176
Prime Minister’s Literary Award, 55
Prime Minister’s Prize for Science, 55
Prime Minister's Prize for Australian History, 55
Private Ancillary Funds, 62, 93
Private health insurance, 42, 44, 188
Private health insurers, 72
Private use of business property, 150
Privately produced beer, 174
Production associates, 55
Professional associations, 56
Prospecting, 104
Public Ancillary Funds, 93
Public authorities, 116
Public benevolent institutions, 135
Public Sector Superannuation Accumulation Plan, 164
Public Sector Superannuation Board, 164
Public Sector Superannuation Investments Trust, 129
Public transport, 138
R
Ready to drink beverages, 175
Record keeping exemption, 143
Recreational or childcare facilities, 136
Regional headquarters, 68
Relief funds, 94
Religious institutions, 74
Religious institutions or practitioners, 144, 145
Religious services, 189
Relocation and recruitment expenses, 139, 141
Relocation consultants, 148
Remote areas, 55
Research and development, 95, 110
Core technology, 92
Premium tax concession, 109
Refundable R&D Tax Credit, 94
Refundable tax offset, 95
Restructuring of a corporate or trust group, 161
Retirement, 117
S
Scientific institutions, 74
Self‑education expenses, 40, 41
Senior Australians’ Tax Offset, 47
Seniors Concession Allowances, 53
Serious hardship, 47
Simplified depreciation rules, 110
Simplified Tax System, 80, 110, 111, 112
Simplified trading stock rules, 111
Small Business Framework, 79, 80
Snuff, 173
Social security benefits, 48
Solvency clauses, 90
Solvents, 171
Sportspersons, 55
Stand‑by travel, 138, 147
State Governors, 33
State or Territory body, 116
Statutory effective life caps, 105
Statutory licence, 162
Subordinated notes, 90
Sugar Industry Reform Program, 83
Superannuation
Co‑contribution, 123
Concessional contributions, 124
Employer contributions, 119
Entity earnings, 120
Fund capital gains, 119
Income stream payments, 127
Lump sums, 125, 126
Non‑concessional contributions, 124
Personal contributions, 122
Spouse superannuation contribution offset, 123
Superannuation funds, 129
Unclaimed, 130
Unfunded superannuation, 121
Superannuation safety requirements, 163
Supplies of farm land, 189
Supply of a precious metal, 191
T
Takeover or merger, 165
Tax Bonus for Working Australians, 57
Tax sparing, 68
Taxi travel, 137
Telephone Allowance, 54
Telephone lines and electricity connections, 99
Temporary residents, 50
Testamentary gifts, 166
Thin capitalisation threshold, 71
Tobacco Growers Adjustment Assistance Program, 77
Tourism businesses, 176, 186
Trade unions and registered associations, 56, 88
Training courses, 140, 141
Transferor trust rules, 69
Transfers of retirement savings from overseas countries, 128
Transitional exemption of small business, 112
Transport for oil rig and remote area employees, 150
Travel agents, 185
Travel allowance, 60
Trust funds, 94
U
Unearned income, 58
United Medical Protection Limited (UMP) support payments, 42
United Nations service, 39
University, 74
Unused long service or annual leave, 117, 128
Upper Tier 2, 91
Utilities Allowances, 53
V
Venture capital, 89
Early stage venture capital limited partnership, 91
Foreign investment, 167
Victorian bushfires, 2009, 76
Visitors to Australia, 34
W
War‑related payments, 52
Water facilities, 101
Water, sewerage and drainage supplies, 184
Wine
Privately produced, 175
WET producer rebate, 176
Worker entitlement funds, 147, 157
Work‑related items, 148
World War II, 51
Z
Zone tax offsets, 55