Key Documents
Explanatory Material - PDF 624.82 KB
Explanatory Material - RTF 1.88 MB
The exposure draft legislation contains taxation concepts and rules which address areas not covered by the current tax law. To assist in understanding the draft legislation, explanatory material is available for download below.
The explanatory material covers in detail the framework, the 'financial arrangements' definition, the treatment of gains and losses, and the calculation of gains and losses under the five tax-timing regimes.
This consultation forms part of the Taxation of Financial Arrangements (TOFA) initiative.
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