Australia - Financial arrangements, fair valuation and taxation
- A. Joseph
- Derivatives & Financial Instruments, 2009 (Volume 11), No 2
- 1 April 2009
The current spiralling financial crisis and the increasing problems confronted by banks and financial institutions around the world have thrust the issue of fair valuation of financial assets and liabilities to the forefront. This article considers international, US and Australian views of the fair value accounting of financial arrangements, and the tax treatment thereof.