TOFA (Taxation of Financial Arrangements): Although Division 230 is only mandatory for business taxpayers with aggregated turnover of at least $100m, there are certain tax benefits of the TOFA rules which could be utilised for small businesses, including companies and superannuation funds.
This event examined how the TOFA rules could be of applied for the benefit of small business clients.
Debt/equity: The debt/equity rules can impact companies with either pre December 1997 Div 7A loans and/or cumulative preference shares.
This event gave a high overview on how the debt equity rules operate and the potential application of the rules for the general tax practitioner, and will included a case study considering what is classified as debt and what is equity for the purpose of the regime.