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Hedging workshop paper


This paper covers the application of the TOFA hedging method to hedging of net investments in foreign operations, exempt dividend income and interest rate hedges through worked examples to illustrate:

  • identification of the appropriate hedged item
  • the contemporaneous documentation required
  • how effectiveness is tested
  • what the different book and tax treatment means for the ineffective portion
  • other differences between book and tax treatment
  • what happens when things change: effectiveness, consolidation and accounting changes.

Author profile:

Julian Humphrey FTIA has 12 years experience with the KPMG Banking & Finance Tax Practice. He works primarily with international banks and financial services companies operating in Australia providing corporate income tax services. Julian’s areas of expertise includes the taxation of banks and bank branches, the taxation of financial arrangements and retail financial products as well as Australia’s offshore banking regime. He is a regular participant in consultation with Government on Australia’s tax reform proposals affecting Australian financial institutions.
Current at 9 February 2009 Current at 18 May 2009 Click here to expand/collapse more articles by Julian HUMPHREY.


This was presented at Financial Services Taxation Conference 2009 .

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Further details about this event:


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