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Final TOFA reform set for 1 July 2007?

Publication date: 25 Jan 07 | Source: CCH TAX WEEK

Issue: Issue 3 2007

Pages: pp.1-9

The way corporate taxpayers are currently required to ascertain the existence, timing, amount and characte of gains and losses from their financial arrangements will radically change from (as early as) 1 July 2007 under draft legislation released by the governemnt on 3 January 2007. This article discusses the draft legislation, with an emphasis on the elections available under it.

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Author profiles

Hayden Scott FTI
Hayden, FTI, is a Partner at PwC in their Tax & Legal practice. He has over twenty years of experience in the tax environments of the Big 4, top-tier law firms, and Government (both Treasury and ATO). Hayden extensively advises clients in the financial services and infrastructure industries, as well as extensively advising outside those industries on finance tax matters. Additionally, Hayden is a contributor to the broader tax policy and reform conversation, having been a member of the (now defunct) National Tax Liaison Group Finance and Investment Subcommittee, and, more recently, an expert panellist on the Board of Taxation’s review of the debt-equity rules. - Current at 17 March 2016
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Enzo Coia CTA
Enzo is a Tax Partner at Deloitte with 20 years experience providing advice on Australian and international taxation matters. Enzo specialises in M&A, financing, capital management and dealing with revenue authorities. He is expertly placed to understand clients’ needs, having spent several years in a senior tax leadership position at a multinational oil and gas company. - Current at 28 August 2020
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