Since its introduction, Division 7A of the ITAA36 has undergone several amendments. On each occasion the scope of the provisions has potentially been expanded. Changes announced in the last Federal Budget have now brought many more dealings with private companies within the operation of the provisions.
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Michael Hine CTA
Michael was admitted to the partnership of KPMG in July 1999 after 11 years in chartered accountancy. He has extensive knowledge of most major taxes including payroll tax, income tax and fringe benefits tax and consults regularly on the practical implications of the GST. Michael was the adviser to the Tasmanian Government’s GST Implementation Program. He was the State Chairman of The Tax Institute in 2001, was a member of the National Executive of the Institute and the Chairman of the Institute’s National Technical Committee. Michael has been a member of the Commissioner’s Division 7A reference group since its inception and was instrumental in lobbying for the changes that saw the introduction of s 109RB discretions. Current at 18 September 2013
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