• 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 2012–13 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 2012–13 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 about:

    General information in the Guide to the taxation of financial arrangements (TOFA) rules

    Last modified: 02 Jun 2014QC 35420