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The New Look to Div 7A

Published on 30 Aug 2010 | Took place at Perth Concert Hall, Perth , WA

Recent announcements from both Treasury and the Australian Taxation Office evidences a “get serious” approach to both the reach and interpretation by the authorities of the deemed dividend rules contained in Div 7A ITAA 1936. The May 2009 Budget broadened the Division in the interests of “fairness and equity”. This, coupled with the recent draft ruling on Unpaid Present Entitlements, has indicated a new look at the provisions is required.

This event dealt with these developments from an accounting and legal perspective.

Darren Shone's paper was presented at Division 7A: Use of private company assets held on Thursday 29 July 2010 and can be downloaded there.

Individual sessions

Trust implications of the new look to Division 7A

Author(s):  Joseph SANTHOSH This paper covers:

  • trust implications of amendments to Division 7A effective 1 July 2009
  • summary of implications on non-trust entities of amendments to Division 7A effective 1 July 2009
  • taxation ruling TR2010/3 on classifying corporate beneficiary's UPEs
  • draft PSLA 3362 in dealing with corporate beneficiary UPEs.
Materials from this session: