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Form 32 QUEENSLAND YOUTHJUSTICE ACT 1992 (Section 247)APPLICATION FOR VARIATION, DISCHARGE, SENTENCE, OF PROBATION ORDER OR COMMUNITY SERVICE ORDER OR INTENSIVE SUPERVISION ORDER OR CONDITIONAL RELEASE
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Section 247 of the Income Tax Act deals with transfer pricing rules.
Taxpayers who engage in transactions with non-arm's length parties are required to file section 247.
Section 247 must be filled out by providing detailed information about the transfer pricing policies and transactions.
The purpose of section 247 is to ensure that transactions between related parties are conducted at arm's length prices.
Information such as the nature of the transactions, the methods used to determine transfer prices, and the comparables used must be reported on section 247.
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