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Corporate distributions
Unit details
Level: Advanced
Estimated learning duration: 10 hours
CPD: 10 hours
Assessment: 20 multiple choice questions within 60 minutes. 75% pass mark.
2 attempts permitted.
Assumed knowledge: This unit assumes that learners are broadly familiar with distributions under company law and distributions under the income tax legislation. You may wish to revise the Corporate tax fundamentals unit.
Learning outcomes:
- Identify and explain the circumstances in which a company is treated as paying a distribution;
- Advise on and apply the rules in relation to the imputation system, including the impact of imputation on a franking account;
- Advise on the taxation treatment, for the company and shareholders, on capital management transactions as they relate to changes in the share structure of a company;
- Explain the income tax treatment for the company and for the shareholder of a distribution made by a liquidator of a company and the subsequent deregistration of that company; and
- Advise on and apply some of the specific anti-avoidance provisions that operate in relation to dividends, franking credits and capital payments.