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ARTICLE · 18 JUNE 2013

Retrospective operation of Australia’s transfer pricing law reforms

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Is subdivision 815-A retrospective law?

AustraliaTax
Craig Milner
Craig Milner
Kieran Egan
Kieran Egan
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On 8 September 2012, amendments to Australia's transfer pricing laws were made that affect income years commencing on or after 1 July 2004. The amendments were made by including a new Subdivision 815-a in the Income tax assessment Act 1997.

Subdivision 815-A supplements Australia's existing transfer pricing laws and concerns transactions between related parties resident in Australia and in other countries with whom Australia has a double taxation agreement (DTA).

Is subdivision 815-A retrospective law?

The Australian government has argued that Subdivision 815-A merely clarifies the existing law, rather than introducing new powers of taxation, and therefore has no retrospective application.

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