Division 7A: Practitioner / ATO Perspective
Published on 06 Feb 2008
| Took place at Sebel Playford, Adelaide
The recent amendments to Division 7A that have introduced a new discretion for the Commissioner to disregard its operation are an exciting step in the right direction for taxpayers and their advisers.
This session covered a brief history of Division 7A and then gave an overview of the new rules and highlighted a number of practical considerations in working with the new rules both retrospectively and moving forward. The ATO was represented by an officer from their Division 7A specialist unit to provide feedback on their interpretation of the new rules with particular reference to Practice Statement PS LA 2007/20.