Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

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History

Chapter 4 inserted by No 162 of 2001.

PART 4-5 - GENERAL  

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Part 4-5 inserted by No 162 of 2001.

Division 815 - Cross-border transfer pricing  

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Div 815 inserted by No 115 of 2012, s 3 and Sch 1 item 6, effective 8 September 2012.

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

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Subdiv 815-A inserted by No 115 of 2012, s 3 and Sch 1 item 6, effective 8 September 2012.

Operative provisions

SECTION 815-40   No double taxation  

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815-40(1)    
The amount of a * transfer pricing benefit that is negated under this Subdivision for an entity is not to be taken into account again under another provision of this Act to increase the entity ' s assessable income, reduce the entity ' s deductions or reduce a * net capital loss of the entity.

815-40(2)    

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Subsection (1) has effect despite former section 136AB of the Income Tax Assessment Act 1936 .

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S 815-40(2) amended by No 101 of 2013, s 3 and Sch 2 item 33, by inserting " former " before " section 136AB " , applicable: (a) in respect of tax other than withholding tax - in relation to income years starting on or after the date mentioned in subsection 815-15(2) of the Income Tax (Transitional Provisions) Act 1997 , as inserted; and (b) in respect of withholding tax - in relation to income derived, or taken to be derived, in income years starting on or after that date.

815-40(3)    
Nothing in this Subdivision limits Division 820 (about thin capitalisation) in its application to further reduce * debt deductions of an entity.

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History

S 815-40 inserted by No 115 of 2012, s 3 and Sch 1 item 6, effective 8 September 2012.

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