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TOFA & Debt/Equity – What’s in it for small business?

Published on 10 Mar 2011 | Took place at City West Receptions, West Perth, WA

TOFA (Taxation of Financial Arrangements): Although Division 230 is only mandatory for business taxpayers with aggregated turnover of at least $100m, there are certain tax benefits of the TOFA rules which could be utilised for small businesses, including companies and superannuation funds.

This event examined how the TOFA rules could be of applied for the benefit of small business clients.

Debt/equity: The debt/equity rules can impact companies with either pre December 1997 Div 7A loans and/or cumulative preference shares.

This event gave a high overview on how the debt equity rules operate and the potential application of the rules for the general tax practitioner, and will included a case study considering what is classified as debt and what is equity for the purpose of the regime.

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

Individual sessions

Practical applications for the general practitioner

Author(s):  Rupert Cheong

This paper covers:

  • the debts test
  • the equity test
  • loans at call
  • how would a pre-Division 7A loan interact with the debt-equity rules?
Materials from this session:

TOFA for small business

Author(s):  Nathan Webb

This paper covers:

  • an overview of TOFA
  • Forex gains or losses
  • taxation of financial arrangements – Division 230 of the ITAA 1997.


Materials from this session: