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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

Kenneth Schurgott CTA-Life
Ken is a Solicitor - Director of Schurgott & Co Lawyers specialising in taxation matters (including State Taxes, stamp duty, payroll tax and land tax) and with extensive experience in business structuring, business sales and acquisitions, asset protection, succession planning and trust and estate law. Ken is very experienced in tax dispute matters, negotiations for settlements, mediations and conciliations and litigation. He regularly appears before the AAT and NCAT and instructs counsel in matters before the Courts. Ken chaired the Noosa Tax Intensive from 2005 to 2007 and was on the Organising Committee for a longer period. He was National President of the Institute in 2012. - Current at 04 January 2018
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