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TOFA - impacts of the various elections paper

Published on 07 Feb 08 by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA

This paper discusses the Summary of Accounting Standards requirements relevant to each election and what they mean in practice (including proposed developments in hedging rules). It also considers the tax consequences of making the various elections.

Note that hedging was covered in more detail in the paper TOFA - Hedging: Have We Finally Got there?

Author profiles:

David HUXTABLE
David is an Executive Manager in the Group Financial Reporting and Analysis team at Commonwealth Bank of Australia. He has 11 years experience working with financial institutions both internally and on an advisory basis during time spent at KPMG. His experience covers a spectrum of accounting issues affecting financial institutions with a particular focus on the interpretation of international accounting standards within the context of structured transactions and general banking operations.
Current at 18 December 2007 Current at 18 December 2007
 
Phillip COLE
Phillip is an Executive Manager in the Group Taxation team at Commonwealth Bank of Australia. He has 15 years experience working within the internal tax functions of financial institutions. His experience covers the spectrum of tax issues affecting financial institutions with a particular focus on domestic issues, including retail, leasing, corporate and financial markets issues. Prior to corporate life, he spent seven years in chartered accounting.
Current at 17 December 2007 Current at 17 December 2007 Click here to expand/collapse more articles by Phillip COLE.

 

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