Tax Laws Amendment (Countering Tax Avoidance and Multinational Profit Shifting) Act 2013 (101 of 2013)

Schedule 2   Modernisation of transfer pricing rules

Part 2   Other amendments

Taxation Administration Act 1953

47   Subsection 284-90(1) in Schedule 1 (table item 6, column headed "In this situation:")

Omit "the greater of $20,000 or 2% of the partnership net income (if any) for that year, worked out on the basis of the partnership's *income tax return", substitute "the partnership's *reasonably arguable threshold".