Changes to the transfer pricing legislation were announced by the then Assistant Treasurer on 1 November 2011.
The changes were included in Tax Laws Amendment (Cross-Border Transfer Pricing) Bill (No 1) 2012, which was introduced into Parliament on 24 May 2012.
Consultation on exposure draft legislation and related explanatory material was conducted by Treasury. It has advised that 21 submissions were received for this consultation, including 1 confidential submission. For access to the public submissions, go here and click on View Submissions