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Guide to the taxation of financial arrangements (TOFA) rules

 
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Objects of Division 230

Division 230 provides a principles-based framework for taxation of gains and losses from financial arrangements. Gains and losses from financial arrangements are generally assessable or deductible.

Division 230 aims to:

  • minimise the extent to which tax treatment of gains and losses from financial arrangements distorts trading, financing and investment decisions
  • more closely align the tax and commercial recognition of gains and losses
  • minimise compliance costs.

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Last Modified: Friday, 15 March 2013
 
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