On 10 December 2020, the Australian Taxation Office (ATO) released the final version of Schedule 3 to its Practical Compliance Guideline PCG 2017/4 (PCG 2017/4C5) in relation to outbound interest-free loans between related parties. There are also minor updates to the PCG’s other Schedules, reflecting the latest version of the ATO’s Reportable Tax Position (RTP) Schedule.
The final Schedule applies from 1 January 2020 to both new and existing instruments and outlines the ATO’s views…