TOFA preliminary discussion papers - 20 October 2009

Discussion paper distributed before the National Tax Liaison Group Finance and Investment Sub-group TOFA Working Group meeting.

This document is prepared solely for the purpose of facilitating discussion at an NTLG Finance and Investment Sub-group TOFA Working Group meeting. This is not a publication that has been approved to allow you to rely on it. It is not intended to provide you with advice, nor does it set out the Tax Office's general administrative practice. Therefore it is not binding on the Tax Office and provides you with no protection (from either penalty or interest) if you rely on it and underpay your tax as a result.

Note: All legislative references are to the Income Tax Assessment Act 1997 (ITAA 1997) unless otherwise stated.

Tax preliminary discussion paper issues

Issues discussed at the meeting of 20 October 2009.

NTLG TOFA issue 220

Tax Office updated discussion paper - accruals method, effective interest method and variable rate loan