Published on 28 Jul 08
by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE
With the introduction of TLAB (TOFA) 2007, TOFA is closer becoming a reality for taxpayers. This paper looks at the impact of proposed Division 230 on common leasing and real property transactions. This paper covers:
the current state of TOFA legislation
a general overview of the provisions
a discussion of key property related exclusions
the likely outcomes for common leasing and property transactions
the interaction with existing tax law
unresolved issues requiring consultation and clarification.
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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