Published on 22 May 2007
| Took place at City West Function Centre, West Perth
The TOFA rules have significant implications for many SME’s. Issues to be discussed at this seminar included:
- the scope of the legislation - how wide is the definition of ‘financial arrangement’ and what taxpayers will be impacted?
- examine the exclusions from the proposed rules
- a practical application of the proposed rules
- update on issues such as FX denominated bank accounts and short term foreign exchange gains/losses.
Taxation of financial arrangements implications for SMEs
Author(s): Neil WARD
The TOFA rules will have significant implications for many SMEs. Issues discussed in this paper include:
the scope of the legislation - how wide is the definition of “financial arrangement” and what taxpayers will be impacted?
a practical application of the proposed rules
update on issues such as:
FX denominated bank accounts
short term foreign exchange gains/losses
at call loans
the continuing interaction of pre TOFA rules, existing TOFA rules and the proposed rules.
This was also presented by Fiona Cahill at the 'TOFA - Implications for SMEs' seminar held in Perth on 22 May 2007.