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Practical TOFA considerations for corporates paper 15112009

Published on 08 Oct 09 by VICTORIAN DIVISION, THE TAX INSTITUTE

The TOFA legislation received Royal Assent six months ago and early electing taxpayers may in some cases be already subject to the new rules. There is still time before the first elections re TOFA need to be made.

This paper covers a number of practical issues that are relevant in determining
the potential impact of TOFA and is intended to help with your decisions on the various elections available. This will be a practical analysis supported by case studies covering the following areas.

  • a suggested approach to determining the preferable TOFA position
  • is tax hedging as beneficial as it appears and how is it achieved?
  • when would you consider the accounting based elections?
  • TOFA issues still under consultation.

Author profile

Neil Ward
Neil Ward FTIA leads the Deloitte Australian Financial Services Tax Group. He has more than 30 years experience in advising in tax. Prior to joining Deloitte in March 2000, Neil spent 12 years with the ANZ Banking Group in Australia and the United Kingdom. Neil is recognised as one of the leading tax advisers on financial arrangements, foreign exchange, thin capitalisation, capital management, withholding tax and infrastructure transactions. - Current at 06 October 2017
Click here to expand/collapse more articles by Neil WARD.

 

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