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Division 7A - The Budget Amendments As Legislation

Published on 23 Mar 2010 | Took place at Education Development Centre, Hindmarsh, SA

On 4 January 2010, exposure draft Tax Laws Amendment (2010 Measures No.1) Bill: Division 7A was released for public comment. Broadly, the exposure draft legislation proposes changes that will prevent a shareholder of a private company (or an associate of the shareholder) accessing tax-free dividends through the use of company assets, under a lease, licence or other right to use, for less than their market value.

This event covered:

  • overview of proposed changes
  • what it may mean in practical terms
  • potential issues and concerns (including examples)
  • public consultation.
Note: This event, part of the Bi-Monthly series, also included a tax update session.

Individual sessions

Division 7A - The budget amendments as legislation

Author(s):  Francis LOH

This presentation covers:

  • Division 7A background
  • overview of Tax Laws Amendment (2010 Measures No.2) Bill 2010 ("Bill No.2") (introduced 17 March 2010)
  • summary of changes:
    • anti-avoidance measures
    • technical amendments.
Materials from this session:

March 2010 tax update

Author(s):  Rachael SULLIVAN

This presentation covers recent news:

  • Tax Laws Amendment (2010 GST Administration Measures No 1) Bill 2010
  • Tax Laws Amendment (2010 Measures) Bill 2010 (new tax consolidation)
  • Tagget v C of T (deed of arrangement and transfer of land)
  • Forrest v C of T (interest deductions and hybrid trusts)
  • Lean v C of T (misappropriation of funds)
  • ATO ID 2010/21 (frankable distributions and non-share dividends)
  • ATO ID 2010/30 (s 40-880 and capital lease payment)
  • ATO ID 2010/31 (tax preferred entity)
  • ATO ID 2010/40 (tax cost setting rules - acquisition of MEC group)
  • Decision Impact Statement - LeasePlan Australia Ltd.
Materials from this session: