Published on 01 Jun 21
by "THE TAX SPECIALIST" JOURNAL ARTICLE
Australia’s transfer pricing framework requires taxpayers, the courts and the Commissioner to consider three different legislative provisions depending on the year in question, any applicable double tax agreements, plus lengthy OECD commentaries and guidelines. This article explains the background to this framework and analyses judicial interpretations of it, with a particular focus on the four cases since 2008 to have dealt with the pricing of transactions challenged by the Commissioner under transfer pricing provisions. The article concludes that, in practice, the outcome under the three different legislative provisions may rarely, if ever, differ.
Dr Julianne Jaques QC, CTA, is a barrister at the Victorian Bar specialising in taxation law. She has particular expertise in disputes involving complex commercial transactions and has appeared in many significant cases including Bywater and Sharpcan in the High Court. Prior to joining the Bar, Julianne spent 10 years in private practice with a major law firm and a major accounting firm. She was also senior tax adviser to the Federal Assistant Treasurer during the introduction of GST and business tax reform.
- Current at
12 March 2021