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The new section 109XB - what you need to know

Published on 11 Nov 2004 | Took place at All Seasons Premier Menzies, Sydney, and Crowne Plaza, Parramatta, NSW

This seminar series was held in:
- Sydney on 2 November 2004
- Parramatta on 11 November 2004.

These days a family trust with a corporate beneficiary is a fairly common structure. The former Section 109UB extended the operation of Division 7A to certain loans by a family trust where a corporate beneficiary had an unpaid present entitlement. At the suggestion of the Board of Taxation Section 109UB was amended to overcome deficiencies. The new Section 109XB extends the operation of Division 7A even further than the former Section 109UB. It is important to note that the changes apply retrospectively. A good understanding of the new Section 109XB is vital for such practitioners whose clients use this family trust structure.

Individual sessions

Section 109U(X)B - Squib or Double Bunger?

Author(s):  Ken SCHURGOTT This paper presents an analysis of proposed new Subdivision EA of Division 7A.

This paper was also presented by Greg Ganz at the A Tax Focus for Small Business and the Rural Industry seminar held in Ballina on 21 May 2004.

Materials from this session: