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Taxation of Financial Arrangements and the financial reports methodology

Published on 01 May 09 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

The long-awaited TOFA provisions have finally been enacted. These provisions provide two default methods and four elective methods for calculating gains and losses from financial arrangements. This article discusses the “reliance on financial reports method” of calculating gains and losses and how it may result in additional work and compliance costs for entities rather than delivering the reduction in administrative and compliance costs as asserted in the Explanatory Memorandum.

Author profiles:

Aldrin DE ZILVA
Current at 18 January 2012 Click here to expand/collapse more articles by Aldrin DE ZILVA.
 
Andrew HUBBARD
Andrew works for BDO Kendalls.
Current at May 2009 Current at 19 May 2009
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