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Division 7A and private company distributions

Published on 23 Apr 1999 | Took place at Grace Hotel , NSW

The purpose of the seminar and workshop is to explain how Division 7A treats payments, transfers, loans and debts forgiven as dividends paid by private companies; indicate how these amounts are treated as dividends of shareholders or associates; and explain what journal entries are required and the interaction of Division 7A with FBT.

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Individual sessions

Private company loans. Division 7A

Author(s):  Les SZEKELY Prior to 4 June 1987 s108 only applied when a private company made a payment to or for the benefit of a shareholder. When considering whether very old loans should be cleaned up this limitation on ATO power should be born in mind. Despite introduction of Div 7A loans to shareholders (or their associates) which are employment related also remain subject to the FBT legislation. This produces an onerous and confusiimg situation in which such loans must comply with two differing sets of legislative standards. Despite the introduction of Div 7A s108 remains operative as an alternative weapon for the ATO.

Materials from this session:

Division 7A and private company distributions

Author(s):  Peter ACHTERSTRAAT This presentation outlines Division 7A of Part III : Why Division 7A - deficiences in s 108 - anti-avoidance; Structure of Division 7A; Overview; Loans made under a written loan agreement; Interposed Entities : back to back arrangements

Materials from this session: