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Division 7A: Use of Private Company Assets

Published on 29 Jul 2010 | Took place at Swissotel, Sydney, NSW

From 1 July 2009 the private use of assets by shareholders (and associates of shareholders) held by private companies can result in deemed unfranked dividends. Taxation Laws Amendment (2010 Measures No.2) Bill 2010 extended the provisions of Division 7A to include the private use of company assets by shareholders and associates.

This event focused on the practical application of the rules so that you can immediately begin to apply them daily in your practice.

Individual sessions

Section 109CA - Division 7A and the use of private company assets

Author(s):  Darren SHONE This paper covers:

  • the provisions
  • dual capacity shareholders - Division 7A or fringe benefits tax?
  • distributable surplus
  • when does a benefit arise?
  • carve outs
  • valuation of benefits
  • allocation of benefits
  • GST and income tax considerations
  • what to do going forward?
Materials from this session: