The Bill implementing extensive changes to the Australia's transfer pricing rules and the general anti-avoidance provision (GAAR) received Royal assent and became law on 2 July 2013.
The modernized transfer pricing provisions will ensure greater alignment with the OECD rules and will apply from 1 July 2013.
The GAAR changes seek to target deficiencies in the operation of the current GAAR arising from recent GAAR court judgments and will apply from 16 November 2012.
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