The Tax Laws Amendment (Cross-Border Transfer Pricing) Bill (No 1) 2012 received Royal Assent on 8 September 2012 as Act No 115 of 2012. It had passed all stages without amendment and makes retrospective amendments with effect from 1 July 2004 to confirm that transfer pricing rules contained in Australia’s tax treaties and incorporated into domestic law provide assessment authority in treaty cases.
[LTN 176, 11/9]