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Published on 06 May 05
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
Getting the terms of both debit and credit loan accounts wrong can have serious tax implications for your clients. This paper focusses on what you need to review before 30 June 2005, particularly:
what are the critical dates - which loans should be 'locked'?
private companies and trusts
statute barred loans
at call credit loans at 30 June 2005
non-share capital accounts.
Terry Lewis FTIA is a partner at Lewis Richmond. Terry’s knowledge and experience spans a broad range of tax issues relating to SME’s, including capital gains tax, tax losses and Division 7A. Current at 16 July 2008
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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