Parsons Taxation Seminar Series: Professor Tim Edgar, University of Western Ontario

27 October 2009
Professor Tim Edgar
Professor Tim Edgar

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Is TOFA Finally Over? A View from Canada

Professor Tim Edgar

University of Western Ontario

About the presentation

The seminar considersthree salient features of the TOFA regime asan expression of a comprehensive accrual regime: (i) the relationship between financialand tax accounting; (ii) the debt-equity boundary; and (iii) the treatment of contingent-payment debt. These features are compared with the different approaches to each subject in the United States and Canada. In some respects, it is suggested that theCanadian experienceindicates thatdoing nothing is a preferable default option. In other respects, however, there are some lessons to be drawn from the US experiencewhich mayindicate a need forfurther fine-tuning of the TOFA regime. In short, despiteits protracted gestation period, the TOFA projectwill inevitablyremain a work in progress.

About the Speaker

Tim Edgar joined the Faculty of Law, The University of Western Ontario in 1989 and is the Director of the National Tax Centre there. Prior to this, he was a solicitor with Stikeman, Elliott, Barristers & Solicitors in Toronto.

He is a graduate of the University of Western Ontario, Osgood Hall Law School and Deakin University, and is the author of a book on the taxation of financial instruments, a co-editor of Materials on Canadian Income Tax (12th ed.), and is also a regular contributor to the Canadian Tax Journal and other tax publications.

Click herefor a copy of the seminar brochure.

This event is part of the Sydney Law School Distinguished Speakers Program 2009. Click here for more details.

Time: 5.30-7.00pm (Registration and refreshments: 5.30pm. Seminar: 6-7pm)

Location: Sydney Law School, Building F10, Eastern Avenue, University of Sydney

Cost: $66 incl gst

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