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Showing 1 - 10 of 10 results for "TOFA"

VanEck reduces management fees on ETFs

CASSANDRA BALDINI  |  MONDAY, 19 JUN 2023
... "Unlike most global listed infrastructure and global listed property funds, VanEck adopts Taxation of Financial Arrangements (ToFA) currency hedging rules," VanEck said. "The rules enable smooth income to be maintained over time. VanEck's tax strategy ...

Government scraps legacy tax, super measures

JAMIE WILLIAMSON  |  WEDNESDAY, 26 OCT 2022
... amend the debt/equity tax rules; the 2016-17 Budget measure that proposed changing the taxation of financial arrangements (TOFA) rules; and proposed changes to the taxation of asset-backed financing arrangements. It has also scrapped the idea of a new ...

Custodians turn attention to CIVs and MITs

DARREN SNYDER  |  THURSDAY, 9 FEB 2017
... will be increased focus on withholding tax (WHT) for newly proposed investment structures and tax on financial arrangements (TOFA). Under operations, the proposed CHESS replacement, improvements in the standardisation of processing of discount securities ...

Ratings upgrade for VanEck, PM Capital

KERRIE SYDEE  |  TUESDAY, 21 JUN 2016
... also noted that the likelihood of currency hedging losses is more limited given the fund's Taxation of Financial Agreement (TOFA) election. Arian Neiron, managing director, VanEck Australia, said, "We are pleased to receive a 'Recommended Index' rating ...

Challenger retail annuity sales up 8%, profit down

LAURA MILLAN  |  TUESDAY, 17 FEB 2015
... corresponding period "benefitted from a $15 million reduction in tax expenses in relation to the [Taxation of Financial Arrangements] TOFA. "Excluding the TOFA benefit, normalized net profit after tax would have increased by 4.3%, Challenger said. Total ...

Sunsuper appoints State Street as custodian

ELISE BURGESS  |  TUESDAY, 22 NOV 2011
... leveraging the global solutions to tailor to the local market to meet local requirements, for example the solutions we have around TOFA [Taxation of Financial Arrangements]. "Everybody knows funds are under constant pressures and looking to see how they ...

Super funds need modern platforms to disclose holdings

ALISON BEVEGE  |  FRIDAY, 19 AUG 2011
... seven major institutional clients including Macquarie Bank and Vanguard, he said. When Taxation of Financial Arrangements (TOFA) became law in July 2010, it caused a major headache for those on old platforms, he said, as legacy system vendors had to ...

HiPortfolio helps Suncorp adopt TOFA changes

MEDIA RELEASE  |  THURSDAY, 2 DEC 2010
Suncorp Life now supports the new Taxation of Financial Arrangements (TOFA) through its administration platform, HiPortfolio. HiPortfolio is TOFA-ready, following its recent multi-million dollar project completed in conjunction with the DST GS Advanced ...

J.P. Morgan hires 50 for custody business

MICHAEL HOBBS  |  TUESDAY, 2 MAR 2010
... Morgan operation. ANZ sold its custody business to J.P. Morgan in November last year. The Taxation of Financial Arrangements (TOFA), which comes into effect from July this year, is also expected to create more demand for custody services in Australia ...

Fund managers on tax alert

MICHAEL HOBBS  |  FRIDAY, 12 FEB 2010
... July this year, according to one technology firm. According to Corrs Chambers Westgarth, Taxation of Financial Arrangements (TOFA) refers to a new set of rules for determining the timing of gains and losses that arise in financial arrangements. "The ...
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