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Taxation of financial arrangements (TOFA)

Late last year, the Tax Laws Amendment (Taxation of Financial Arrangements) Bill 2008 was introduced into Parliament, and it contained an elective start date of 1 July 2009, and a compulsory start date of 1 July 2010.There are decisions you need to make, including whether you should opt in from 1 July 2009 to get the benefits of TOFA early – like the ability to tax hedge arrangements. TOFA elections are irrevocable, so you need to be sure you’re making the right decisions.


  • Do you know the rules to determine if TOFA is relevant to your business?
  • Do you know what to report to management from a risk governance perspective?
  • What are the traps and benefits of TOFA?
  • Is your business ready for TOFA implementation?
  • Do you know that if you opt into TOFA early, you’ll need to be ready to quantify and disclose the full effect of TOFA implementation in your 30 June 2009 tax return?

The Deloitte TOFA implementation package (D-TIP)

Deloitte has developed a unique TOFA implementation package (D-TIP), a software package that allows you to compare your TOFA options easily. D-TIP guides you through the implementation process step-by-step,identifies which of your arrangements would be subject to TOFA and calculates the required balancing adjustment under each elective method. D-TIP will give you a comprehensive, easy-to-understand report on how TOFA will affect your business, as well as a variety of ‘snap shot’ reports that you can provide to management.

Our easy to use software takes you through the decision making and implementation process step by step, and generates ‘snap shot’ reports for management.

Talk to your Deloitte adviser today for a demonstration of our software and sample reports.


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