fbpx
Skip to main content
New Financial Assistance Hub

Submissions

Filter Content

Clear all
LIBOR Discussion Paper – AFMA/ABA/FSC Submission

1 September 2021

At a high-level, AFMA, ABA and the FSC would support the ATO outlining a practical approach to the taxation consequences on IBOR-transition which leverages existing processes being undertaken by affected taxpayers and categorises the various affected contracts from a risk perspective. This would ensure that compliance resources are appropriately allocated. The approach adopted in PCG 2017/8 regarding internal derivatives would be an appropriate precedent for such an approach.

Download PDF