03 Jun 2021 Member Engagement
Conversations happening in Community this week:
- Division 7A: making loan repayments by journal entry: Conversation continues about Div 7A issues. Add your questions or solutions on this important topic!
- Timeline for subsisting UPEs & Div7a (Current rules): A member has raised a question around distribution of profits from a family trust to a corporate beneficiary. When is an MYR due and when does interest start accruing?
- ATO Consultation – client verification: We’re looking for your views on the ATO Consultation Paper seeking feedback on proposed guidelines for client verification within tax and superannuation practices.
- Upcoming hearing in Frucor in NZSC – GAAR provision (section BG1): Reminder for large business practitioners about this upcoming hearing.
- Rental deductions pre sale: Weigh in to help settle a debate between a member and their colleague about the deductibility of interest and other running costs prior to the sale of a rental property.
- Cryptocurrency Wallet Scanner: With recent developments in the cryptocurrency market, members are still discussing reporting requirements and tech options for helping track cryptocurrency transactions.
- CGT Issue – Legal not Beneficial Owner: Ideas are flowing on this tricky client question. Share your thoughts on the best approach.
Want to weigh in on the conversations above, or start your own? Sign up for a free Community account to start talking with other members of The Tax Institute today.