The Commissioner's hypothesis about your business - Transfer pricing observations
Source: Taxation In Australia Journal Article
Published Date: 1 Sep 2014
In Australian income tax law, there are two areas in which the Commissioner of Taxation may advance a hypothesis about how business transactions should have been undertaken, or that a particular business transaction would not have been undertaken. These are the general anti-avoidance rules in Pt IVA of the Income Tax Assessment Act 1936 (Cth) and the transfer pricing rules in Div 13 of Pt III of that Act, and Div 815 of the Income Tax Assessment Act 1997 (Cth). Both areas have recently been subject to amendment. This article examines elements of the new transfer pricing rules concerning the formulation of hypotheses, with a view to identifying likely ar eas of difficulty for both taxpayers and the A TO.
The article also considers recent findings concerning the ATO management of transfer pricing matters. In the author’s view, recent Div 13 cases continue to provide helpful guidance when considering the formulation of hypotheses under the new rules.
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Details
- Published By: Tony Pane
- Published On:1 Sep 2014
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