Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 815 - Cross-border transfer pricing  

Subdivision 815-A - Treaty-equivalent cross-border transfer pricing rules  

Operative provisions

SECTION 815-30   Determinations negating transfer pricing benefit  

815-30(1)    
The determinations the Commissioner may make are as follows:

(a) a determination of an amount by which the taxable income of the entity for an income year is increased;

(b) a determination of an amount by which the tax loss of the entity for an income year is decreased;

(c) a determination of an amount by which the * net capital loss of the entity for an income year is decreased.

815-30(2)    
If the Commissioner makes a determination under subsection (1), the determination is taken to be attributable, to the relevant extent, to such of the following as the Commissioner may determine:

(a) an increase of a particular amount in assessable income of the entity for an income year under a particular provision of this Act;

(b) a decrease of a particular amount in particular deductions of the entity for an income year;

(c) an increase of a particular amount in particular capital gains of the entity for an income year;

(d) a decrease of a particular amount in particular capital losses of the entity for an income year.

815-30(3)    
If the Commissioner makes a determination under subsection (1), the Commissioner must make a determination under subsection (2), unless it is not possible or practicable for the Commissioner to do so.

Example:

If section 815-25 is relevant in working out the transfer pricing benefit an entity gets, this subsection requires the Commissioner to make a determination relating to the debt deductions of the entity.

815-30(4)    
Nothing done under subsection (2) affects the validity of a determination made under subsection (1).

815-30(5)    
The Commissioner may take such action as the Commissioner considers necessary to give effect to a determination under this section.

815-30(6)    
The Commissioner must give a copy of a determination under this section to the entity.

815-30(7)    
A failure to comply with subsection (6) does not affect the validity of the determination.

815-30(8)    
(Repealed by No 81 of 2016)