On 7 April 2016, the Australian Taxation Office published updated frequently asked questions (FAQs) on the simplified transfer pricing record keeping options that are available for eligible businesses. The options are meant to reduce compliance costs and are generally available for three consecutive years. When a simplified option is applied, the transactions or arrangements covered by the option will not be reviewed for transfer pricing purposes. Specific simplified options are provided for: The following from 29 June 2013: Small taxpayers; Distributors; Intra-group services; and Low-level loans - inbound; and The following from 1 July 2015: Materiality; Management and administration services;...