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30 Nov 10 Reviewing Division 7A private company loan agreements

The ATO advises that over the coming weeks and continuing into the new year, tax agents may receive a letter from the ATO about private company clients who may have lent funds to their shareholders or associates of their shareholders. Raising awareness of potential non-compliance with Division 7A is part of the ATO's compliance program for the 2010–11 financial year.


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