Taxation of financial arrangements (TOFA)

The TOFA rules provide for the tax treatment of gains and losses on financial arrangements. Generally, the rules will apply to large taxpayers. The TOFA rules are found in Division 230 of the ITAA 1997 which provides the methods for calculating gains and losses from financial arrangements, and the time at which these gains and losses will be brought to account.

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Guide to taxation of financial arrangements (TOFA)