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  2010

Now that TOFA applies - what changes for SME's?

Source: Victoria

Published Date: 23 Nov 2010

 
Now that many taxpayers are subject to the new Division 230 and the Taxation of Financial Arrangement Rules, this event focused on how the TOFA rules impact on the most common transactions for small to medium sized enterprises. The event identifed what doesn't change, what does, and where there are potential opportunities.

This event covered the following:

  • does TOFA apply to you/ your clients?
  • if not why not?
  • 10 simple transactions and how the TOFA rules apply to them (ie. foreign currency bank accounts, selling products in a foreign currency and borrowing in foreign currency)
  • what elections can be made under the TOFA rules and by when do such elections need to be made?

Taxation of financial arrangements (TOFA) for small to medium business

Author(s): Claire Allen
Materials from this session:

Details

  • Published On:23 Nov 2010
  • Took place at:Kooyong Lawn Tennis Club, Melbourne

The material is copyright. Apart any fair dealing for the purpose of private study,

research critisism or review, as permitted under the copyright Act, no part may be rerpoduced by any process without written permission from The Tax Institute.

Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

This material is copyright. Apart from any fair dealing for the purpose of private study., research, critisism or review, as permitted under teh copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opininons are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

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