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October Corporate Tax Club 2012

Published on 17 Oct 2012 | Took place at RACV Club, Melbourne , VIC

    The TOFA regime has now been law for over two years, and in this time there have been many practical issues identified. Many of these have been resolved through consultation and amendment to the law, however there are a number of key issues that remain on the agenda for review. This seminar explored some of the practical issues that corporates face in applying TOFA as well as looking at the implications of more recent amendments to the law.
    Of particular focus was the:
  • scope of the financial arrangement concept
  • book to tax differences that arise in practice
  • interaction of the tax consolidation and TOFA rules
  • benefits and pitfalls of the hedging method and the changes on the horizon
  • ATO compliance and reviews.

Individual sessions

Top TOFA issues that have slipped under the radar

Author(s):  Michael MUNCASTER,  Rhys MANLEY

The TOFA regime has now been law for over two years, and in this time there have been many practical issues identified. Many of these have been resolved through consultation and amendment to the law, however there are a number of key issues that remain on the agenda for review. This presentation explores some of the practical issues that corporates face in applying TOFA as well as looking at the implications of more recent amendments to the law.

Of particular focus, the presentation discusses the:

  • scope of the financial arrangement concept
  • book to tax differences that arise in practice
  • interaction of the tax consolidation and TOFA rules
  • benefits and pitfalls of the hedging method and the changes on the horizon
  • ATO compliance and reviews.
    .
Materials from this session: