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

45   Subsection 284-90(1) in Schedule 1 (table item 4, column headed "In this situation:")

Omit "the greater of $10,000 or 1% of the income tax payable, or *MRRT payable, by you for the income year, worked out on the basis of your *income tax return or *MRRT return", substitute "your *reasonably arguable threshold".