Discussion Paper — Improving the operation of the TOFA tax hedging provisions — February 2012

The discussion paper outlines issues that were raised in the post enactment consultation on the TOFA Stages 3 & 4 provisions.  The purpose of the paper is to canvass possible implementation options for the following measures announced in the 2011‑12 Budget:

• hedge ineffectiveness; and
• hedging of a firm commitment

and facilitate discussion of four other issues relating to the TOFA tax hedging provisions.