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TOFA 3 & 4 Tax-timing method elections form

Use this form to have one or more tax-timing methods apply under the TOFA rules.

Last updated 22 May 2016

When to use this form

Use this form to make an election for one or more of the following tax-timing methods to apply when calculating your gains and losses under the taxation of financial arrangements (TOFA) rules:

  • fair value
  • foreign exchange retranslation
  • hedging
  • reliance on financial reports.

TOFA elections are complex and cannot be revoked.

Before making any TOFA elections, carefully consider your circumstances and seek professional assistance if necessary.

Completing this form

You can complete this form electronically. Once completed, print the form so it can be signed.

You do not have to notify us of this election, but you should keep a copy of it with your tax records.

Download the TOFA 3 & 4 tax-timing method elections (NAT 73324, PDF 669KB) form.