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Draft Taxation Ruling TR 2009/D8 – Sense or nonsense?

Published on 11 Feb 10 by WESTERN AUSTRALIAN DIVISION, THE TAX INSTITUTE

This paper covers:

  • the Conventional Operation of Division 7A
  • dealing with later dividends
  • interposed entities
  • discretion to disregard operation of Division 7A
  • the life style asset amendments
  • the provenance of Subdivision EA
  • The operation of Subdivision EA
  • loan agreements and Subdivision EA
  • what the draft Ruling Says
  • timing - date of effect
  • accepting the Ruling - going forward
  • UPEs of earlier years
  • Section 109RB application
  • timing
  • financial accommodation
  • in-substance a loan
  • the examples as part of the Ruling
  • comment on Examples
  • paying the dividend out
  • Section 109ZG
  • net Income in Subdivision EA
  • Section 100A
  • what is left for Subdivision EA?

Author profile:

Ken SCHURGOTT
Ken is a tax and commercial law partner in the Sydney office of SBN Lawyers. He has extensive experience in all aspects of tax (including State taxes) as well as business structuring, asset protection, succession planning and trust and estate law. Ken is a National Councillor of the Tax Institute and a member of the NSW Divisional Council and Education Committee. He is also a member of the Advisory Panel to the Board of Taxation and has recently been involved as a member of the Working Group on Managed Investment Trusts.
Current at 13 January 2009 Current at 25 March 2009 Click here to expand/collapse more articles by Ken SCHURGOTT.
 
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