Item 16 - Taxation of Financial arrangements (TOFA) 2025
The key provisions of the TOFA rules are found in Division 230 of the ITAA 1997, which generally provides for:
-
Methods of taking gains and losses from financial arrangements, being accruals and realisation, fair value, foreign exchange retranslation, hedging and reliance on financial reports and balancing adjustment, into account.
-
The time when the gains and losses from financial arrangements will be brought to account.
Item 16 comprises:
Label H - Total TOFA gains
Show at this label the fund's total assessable TOFA gains from financial arrangements. The TOFA worksheet (tof) is provided at this label for dissection and record-keeping purposes. Refer to Taxation of financial arrangements worksheet (tof) 2023.
Refer to Total TOFA Gains on the ATO website.
Label I - Total TOFA Losses
Show at this label the fund's total deductible TOFA losses from financial arrangements. The TOFA worksheet (tof) is provided at this label for dissection and record-keeping purposes. Refer to Taxation of financial arrangements worksheet (tof) 2023.
Refer to Total TOFA Losses on the ATO website.
