The Australian Taxation Office (ATO) has announced the release of Law Companion Ruling LCR 2021/2 Non-arm's length income – expenditure incurred under a non-arm's length arrangement, which is effective from 1 July 2018. LCR 2021/2 was first issued on 28 July 2021, with a correction made on 4 August.

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Non-arm's length income rules clarified

We have recently released Law Companion Ruling…