Published on 15 Apr 03
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
This presentation provides a review of the key tests and traps that advisors need to consider when planning and accounting for transactions between companies, trusts, and individuals including:
- a quick refresher on the rules that relate to loans between companies, trusts and individuals
- how loans by trusts can be caught by the company debit loan account rules
- how loans by companies to individuals through interposed entities can be caught
- how section 109UB applies where a trust distributes profits to beneficiary companies and loans cash to individuals
- how dividend policies and loan agreements can be used to manage loan account problems
- actions for consideration before 30 June 2003 in relation to loan accounts.
Paul is a Partner at Deloitte Private and specialises in helping
clients understand and comply with accounting, taxation and other legislation requirements relevant to their businesses. Paul has a particular interest in the agribusiness sector. Having grown up on Eyre Peninsula and currently managing a property at Bordertown, Paul has a wealth of knowledge and experience unique to this particular industry.
- Current at
02 August 2011