Published on 08 Oct 09
by VICTORIAN DIVISION, THE TAX INSTITUTE
The recent changes to Division 7A giving the Commissioner discretionary powers is good news, yet present perplexing and difficult issues in practice. This paper considers the following:
- the present UPE/Loan controversy
- what the specific rules are relating to trusts
- why is debt forgiveness a ‘sleeping giant'?
- what is the Commissioner's discretion and how does it apply in practice
- other problem areas and traps.
Current at 18 January 2012
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