On 8 November 2023, the Australian Taxation Office (ATO) released an updated version of practice compliance guideline on simplified transfer pricing record-keeping options (PCG 2017/2).
The updates outline the safe harbor interest rate for the 2023–2024 income year regarding low-level related party inbound and outbound loans. The new interest rate for both loan options for the 2023–2024 income year has been set at 5.81%, which is an increase from 5.65% for the 2022-2023 income year.
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