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Taxation of financial arrangements paper

Published on 13 Mar 13 by NATIONAL DIVISION, THE TAX INSTITUTE

This paper provides a progress report on the TOFA rules in Div 230 of the Tax Act which have substantially reshaped the way that many taxpayers have to recognise financial transactions for tax purposes.

Topics covered include:

  • TOFA overview
  • where the law is at now and current TOFA issues
  • ATO compliance activities – focus areas of ATO review
  • risk management
  • was TOFA a good idea and what can be done to improve it?

Author profiles

Anthony Frost CTA
Photo of author, Tony FROST Tony Frost, CTA, Greenwoods & Herbert Smith Freehills’ Managing Director, is a tax lawyer and Chartered Accountant, with a career spanning more than three decades. During this time, he has advised clients on a wide range of matters, including financial transactions, ATO audits and disputes, and the tax aspects of mergers, acquisitions and transfer pricing. Tony has been closely involved in many successful and unsuccessful tax reform projects over the last 30 years or so, including in his role as a key adviser to the Australian Banking Association, and also as an occasional adviser/consultant to the Treasury, ATO and the Board of Taxation. Before joining Greenwoods in 2003, Tony was a partner in a global chartered accounting firm and held a senior position in a leading Australian bank. Tony is a prolific author of tax articles and seminar papers and is regularly invited to speak at industry events and conferences. He spent 15 years as a lecturer in the Master of Laws program at the University of Sydney. Tony is a Chartered Tax Adviser of The Tax Institute, a member of the Law Society of NSW and Chartered Accountants Australia and New Zealand, and a member of the International Fiscal Association. - Current at 01 November 2018
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Andrew Hirst CTA
Andrew of Greenwoods & Herbert Smith Freehills, advises on a wide range of corporate and bankingrelated tax issues with a particular focus on financial and international transactions. Andrew has been actively involved in the development of the antihybrid rules. - Current at 29 May 2019
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This was presented at The 28th National Convention .

Get a 20% discount when you buy all the items from this event.

Individual sessions



















Taxation of financial arrangements

Author(s):  Tony FROST,  Andrew Hirst

Materials from this session:



Australian Taxation Office investigations - Recent issues

Author(s):  Michael CLOUGH,  Andrew CURRIE

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Powers of Attorney

Author(s):  Susan Fielding

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Tax issues on intergenerational change

Author(s):  Peter BOBBIN

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Equity, simplicity, certainty and individualised justice – in the one sentence?

Author(s):  Michelle GORDON

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Part IVA reform

Author(s):  AH (Tony) SLATER

Materials from this session:

Further details about this event:

 

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