Document ID: chunk:federal_register_of_legislation:C2013A00101:clause:2_2:p4
Version: federal_register_of_legislation:C2013A00101
Segment Type: clause
Provision Reference: sch 2 cl 2 (pt 4/8)
Character Range: 23915–26763

(1)(c), the Commissioner may make a determination stating the amount that is (and has been at all times) the amount of the disadvantaged entity's:
 (a) taxable income for the income year; or
 (b) loss of a particular *sort for the income year; or
 (c) *tax offsets, or tax offset of a particular kind, for the income year; or
 (d) *withholding tax payable in respect of interest or royalties.
 (3) The Commissioner may take such action as the Commissioner considers necessary to give effect to a determination under this section.
 (4) The Commissioner must give a copy of a determination under this section to the disadvantaged entity.
 (5) A failure to comply with subsection (4) does not affect the validity of the determination.
 (6) To avoid doubt, the Commissioner may include all or any determinations under this section in relation to a particular entity, including determinations of different kinds, in the same document.
 (7) An entity may give the Commissioner a written request to make a determination under this section relating to the entity. The Commissioner must decide whether or not to grant the request, and give the entity notice of the Commissioner's decision.
 (8) If the entity is dissatisfied with the Commissioner's decision, the entity may object, in the manner set out in Part IVC of the Taxation Administration Act 1953, against that decision.

815‑150  Amendment of assessments
 (1) Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment of an entity for an income year if:
 (a) the amendment is made within 7 years after the day on which the Commissioner gives notice of the assessment to the entity; and
 (b) the amendment is made for the purpose of giving effect to section 815‑115.
 (2) Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment at any time for the purpose of giving effect to section 815‑145.

Subdivision 815‑C—Arm's length principle for permanent establishments

Guide to Subdivision 815‑C

815‑201  What this Subdivision is about
      This Subdivision applies the internationally accepted arm's length principle in the context of permanent establishments (PEs).

Table of sections

Operative provisions
815‑205 Object
815‑210 Operation of Subdivision
815‑215 Substitution of arm's length profits
815‑220 When an entity gets a transfer pricing benefit
815‑225 Meaning of arm's length profits
815‑230 Source rules for certain arm's length profits
815‑235 Guidance
815‑240 Amendment of assessments

Operative provisions

815‑205  Object
  The object of this Subdivision is to ensure that the amount brought to tax in Australia by entities operating *permanent establishments is not less than it would be if the permanent establishment were a distinct and separate entity engaged in the same or comparable activities