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Be Aware - Not Afraid...Service Trusts & Shareholder Loans & Payments

Published on 21 Feb 2003 | Took place at Corus Hotel, Hobart, TAS

It is hard to imagine topics that are more central to the taxation and structuring of small business as these. The topics are clearly upon the ATO audit radar at the moment, so this was a 'must do' session. The program included nationally recognised experts from both the profession and the ATO.

Please note that the powerpoint by Ian Phillips on Service Trusts will not be released onto this website. The paper the presentation referred to was by David Marks and was presented in Adelaide on 23 October 2002. Please click on the following link and then click on the 'View Now' link to refer to this paper: click here

Individual sessions

Shareholder Loans & Payments

Author(s):  Brent MURPHY Division 7A was introduced with much fanfare and was set to revolutionise the taxation of shareholder loans and payments. In recent years it may have become a 'sleeper' - but with ever increasing scrutiny by the Commissioner, now is the time to 'wake up'. Whether the issue has been the deductability of interest or the correct taxation treatment of a loan, relevant tax law issues have needed constant attention by advisors.

This session provided a detailed review of the relevant legislation and strategies that advisors should be familiar with in constructing client advice and recommendations with respect to such transactions - balancing the views of the ATO and of the profession. Reference was also made to the Treasurer's 12 December statement foreshadowing proposed amendments to Division 7A impacting distributions from family trusts to companies.

Materials from this session: