• 16. Taxation of financial arrangements (TOFA)

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    G Did you make a gain, loss or transitional balancing adjustment from a financial arrangement subject to the TOFA rules?

    Print X in the appropriate box at G.

    Print X in the Yes box only if during the 2013–14 income year the fund:

    • made an assessable gain or deductible loss under the TOFA rules (unless it was made only because the fund held a qualifying security)
    • had an assessable or deductible amount from a transitional balancing adjustment as a result of making the transitional election for existing financial arrangements.

    Print X in the No box if during the 2013–14 income year the fund:

    • satisfies both of the following:    
      • the fund did not make an assessable gain or deductible loss under the TOFA rules
      • the fund did not have an assessable or deductible amount from a transitional balancing adjustment as a result of making the transitional election for existing financial arrangements, or
       
    • had an assessable gain or deductible loss under the TOFA rules only because the fund held a qualifying security to which the TOFA rules apply.

    Find out more

    On when the TOFA rules apply to funds, see General information or the Guide to the taxation of financial arrangements (TOFA) rules.

    End of find out more
    Last modified: 05 Nov 2014QC 40267