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18 Oct 07 Div 7A: failure to repay trade credit by shareholder - TD 2007/D17

This draft Taxation Determination was released on 17 October 2007 for public comment by 16 November 2007. Its full title is "Income tax: if a private company provides trade credit to a shareholder (or their associate) on the usual terms it gives to parties at arm's length, will a failure by the shareholder (or their associate) to repay the amount within the agreed payment term prevent s 109M of ITAA 1936 from applying?" The answer given is No.

For a copy of TD 2007/D17, go here

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