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Item 31 - Taxation of Financial Arrangements (TOFA)

See Taxation of financial arrangements on the ATO website and, for more information, see TOFA.

The TOFA rules apply to the following partnerships:

  • authorised deposit-taking institutions, securitisation vehicles and financial sector entities with an aggregated annual turnover of $20 million or more
  • managed investment schemes, or entities with a similar status under foreign law relating to corporate regulation with assets of $100 million or more
  • any other partnership which satisfies one or more of the following
    • an aggregated turnover of $100 million or more
    • assets of $300 million or more
    • financial assets of $100 million or more.

If the TOFA rules apply to calculate an assessable gain or deductible loss on the partnership’s financial arrangements, you must complete this item.

Labels M and N—Total TOFA gains and Total TOFA losses

We've provided a TOFA worksheet for calculation and record keeping purposes.

Click either label M or N to open the Taxation of financial arrangements worksheet (tof).

  • Show at label M the partnership's total TOFA gains from financial arrangements.
  • Show at label N the partnership's total TOFA losses from financial arrangements

CCH References

17-090 Adjustments to cost

17-640 Termination value of depreciating assets

23-000 Taxation of financial arrangements - TOFA

23-020 Recognition of gains and losses

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