03 Dec 09 ATO seeks review of private loan arrangements
The ATO has advised that during December 2009, it is sending letters to selected tax practitioners who have business clients with an annual turnover of $2 million to $250 million. These letters include information about a debit loan with shareholders or shareholders' associates. The ATO says that the letters aim to help practitioners and their business clients and improve voluntary compliance.
For a copy of the ATO advice, go here