Published on 07 Oct 05
by VICTORIAN DIVISION, THE TAX INSTITUTE
The recently expanded provisions of Division 7A must be considered carefully to ensure the tax law doesn't deem a shareholder or associate to have received a dividend.
In this paper, the recent trust enactments will be reviewed, as well as some other areas that are usually overlooked but can have serious repercussions, including:
- new Subdivision EA
- affirmation of operation of s109UB
- just what are 'loans' and 'payments'
- specific issues for SMEs
- statute barred loans.