Income Tax Assessment Act 1997
View history note
Hide history note[ CCH Note: For the application of Subdivisions 815-B , 815-C and 815-D of the Income Tax Assessment Act 1997 , as inserted, see Division 815 of the Income Tax (Transitional Provisions) Act 1997 .]
SECTION 815-220 When an entity gets a transfer pricing benefit 815-220(1)
An entity gets a transfer pricing benefit from the attribution of profits to a *PE of the entity if:
(a) the amount of profits (the actual profits ) attributed to the PE differs from the *arm ' s length profits for the PE; and
(b) had the arm ' s length profits, instead of the actual profits, been attributed to the PE, one or more of the following would, apart from this Subdivision, apply:
(i) the amount of the entity ' s taxable income for an income year would be greater ;
(ii) the amount of the entity ' s loss of a particular *sort for an income year would be less ;
(iii) the amount of the entity ' s *tax offsets for an income year would be less .
Nil amounts
815-220(2)
For the purposes of this section:
(a) treat an entity that has no taxable income for an income year as having a taxable income for the year of a nil amount; and
(b) treat an entity that has no loss of a particular *sort for an income year as having a loss of that sort for the year of a nil amount; and
(c) treat an entity that has no *tax offsets for an income year as having tax offsets for the year of a nil amount.
[ CCH Note: For the application of Subdivisions 815-B , 815-C and 815-D of the Income Tax Assessment Act 1997 , as inserted, see Division 815 of the Income Tax (Transitional Provisions) Act 1997 .]
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