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Division 7A–The Commissioner’s discretion paper

Published on 17 Oct 08 by VICTORIAN DIVISION, THE TAX INSTITUTE

Division 7A remains forever changed because the Commissioner has an unfettered discretion to ignore the operation of Division 7A since 2002. Although Practice Statement PSLA 2007/20 has since lapsed, the only way in which any previous Division 7A issues can now be dealt with is by seeking a favorable exercise of discretion by the Commissioner. This paper covers:

  • what needs to be disclosed to the Commissioner and more importantly what shouldn't be disclosed
  • tips and traps in dealing with the ATO on Division 7A.

Author profile

Arthur Athanasiou CTA-Life
Photo of author, Arthur ATHANASIOU Arthur Athanasiou CTA (Life) practises mainly in the area of taxation advisory, with an emphasis on dispute resolution, particularly in the SME sector, with both the ATO and the SRO. Arthur has many years experience in complex tax litigation and tax audit negotiations and settlements. He also has broad experience in the taxation of trusts and SME entities, with an emphasis on Div 7A and high wealth individuals and family groups. Arthur has qualified as a Chartered Accountant and also held senior taxation and management positions in the transport and motor vehicle industries. Arthur is a former President of The Tax Institute, has chaired the Law Institute’s Tax Law Advisory Committee for a decade and now serves on the Industry Advisory Board of the IPA-Deakin University SME Research Centre. Arthur is an Accredited Tax Law Specialist and a widely published writer on taxation issues. He regularly appears in the mainstream media and presents at tax seminars and discussion groups. - Current at 21 September 2018
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This was presented at 2008 Tasmanian State Convention .

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