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Q & A: At Call Loans to Private Companies - profits first by stealth

Published on 01 Jun 04 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

Informal at call loans from shareholders to companies pose a threat, particularly when it comes time for the company to repay the loan. In many cases, it seems, the repayment of a loan could be treated as a dividend. The 'profits first' rule may yet find its way into the tax system.

Author profile

Andrew O'Bryan CTA
Andrew is a Partner at Hall & Wilcox Lawyers and provides advice on the application of a wide range of taxation. He has substantial knowledge of taxation and commercial practice and advises his clients on income tax, capital gains tax, tax audits and reviews, fringe benefits tax, business structuring and transactions, liquidations and reconstructions, superannuation, retirement planning, business succession, estate planning, and philanthropy. Andrew advises accounting and legal firms on their clients’ affairs. He also draws clients from industry, commerce and high-net-worth private family groups. One of his main interests is advising private business owners on the transition of management and control of family businesses to the next generation. Andrew has been recognised in the The Best Lawyers in Australia in Tax Law every year since 2014 and is a leading tax lawyer in Victoria in Doyle's Guide to the Australian Legal Profession. - Current at 12 November 2019
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