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How is your practice dealing with debt between closely held entities? paper

Published on 15 Oct 05 by TASMANIAN DIVISION, THE TAX INSTITUTE

This paper pulls together a number of issues relating to loans - looking at them from a different direction/angle including:

  • no-doc loans between closely held entities
  • section 109XB
  • practical requirements for dealing with at-call loans (No 4 Measures Act)
  • other at call loan issues for SMEs
  • impact of recent cases on interest deductions
  • redraw facility for private purposes - interest deduction apportioned - AAT[2004] Domjan v FCT
  • the impact of Consolidation on loans between closely held entities.

Author profile

Christopher Wallis CTA
Chris commenced practice as a Barrister in 1991 and 27 years later has a strong no nonsense reputation throughout Australia in the fields of equity and revenue law. Chris’ focus is on keeping clients out of the AAT and Court using attention to detail and negotiation to secure certainty for clients at the earliest opportunity, a focus which has involved him in numerous in-house facilitation sessions. Chris is a regularly published author and a member of the Editorial Board of the Australian Tax Law Bulletin and also of the Australasian Tax Teachers Association (ATTA). Chris presents regularly throughout Australia for the professional bodies and ATTA and has completed studies in international tax at the Institute for Austrian and International Tax Law at Wirtschafts Universitat in Vienna and the IBFD in Amsterdam. Two of Chris' recently published articles have addressed issues arising under the ATO's in-house facilitation process. Subsequent changes to the process reflected observations in the articles. - Current at 08 October 2019
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This was presented at Tasmanian State Convention: Don't let this one get away! .

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