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Taxation of Financial Arrangements - scope and exceptions paper


This workshop paper covers:

  • is the very wide definition of a 'financial agreement' workable?
  • are the exceptions and carve-outs adequate?
  • alternative approaches?
  • comparison to the financial accounting definition of a 'financial instrument'
  • the New Zealand experience
  • character rules: is the deemed revenue treatment appropriate?

This paper was also presented at the 'Taxation of Financial Arrangements' seminars held in Melbourne on 9 March 2006 and Sydney on 22 March 2006.

Author profile

Photo of author, Tony FROST Tony Frost FTIA has been a Director with the Sydney office of Greenwoods & Freehills since 2003. Tony has more than 20 years experience in tax, with a focus on financial services and financial transactions. Tony has advised clients on a wide range of tax matters, including innovative financial products, structured finance, mergers and acquisitions, cross-border dealings, transfer pricing, tax audits and negotiations with the Australian Taxation Office. Prior to joining the firm in 2003, Tony had been a Tax Partner for seven years with one of the major international accounting firms. Earlier in his career, Tony spent five years with Westpac Banking Corporation. He has over 20 years experience in tax and has advised clients on a wide range of issues, but with an emphasis on financial products and financial institutions. Tony has had significant involvement in the tax reform process via industry and professional bodies. In particular, Tony has written or coordinated many submissions over the last 18 years for the banking industry, including on the TOFA reforms. Tony lectures on the taxation of financial transactions in the Masters of Law course at the University of Sydney and is a regular speaker and writer on this subject for the Taxation Institute and other organisations.
Current at 11 February 2009
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This was presented at Taxation of Financial Arrangements - Practical Application .

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Taxation of Financial Arrangements - scope and exceptions

Author(s):  Tony FROST

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