OrbitaxProposed changes to taxation of financial arrangements
|Proposed Changes|Australia
On 11 January 2013, the Treasury released for comment Exposure Draft legislation and Explanatory Memorandum dealing with technical changes to the Taxation of Financial Arrangements (TOFA) rules. The rules became effective from 1 July 2009 and seek to align, to the maximum extent possible, the tax treatment of financial arrangements to their accounting treatment.
The proposed…
Continue Reading
