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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.

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Author Photo - Andrew O'BRYAN
Andrew O'BRYAN
Andrew O’Bryan FTIA is the Head of Taxation, Superannuation, and Family Business and Wealth Management Practice Groups at Hall and Wilcox. Andrew provides advice on the application of a wide range of taxation matters including income tax, FBT, CGT, tax audits, structuring and restructuring of business and transactions, superannuation, state equivalent tax regimes, retirement planning, business succession, estate planning, liquidations and reconstructions, and corporatisation and privatisation.
Current at 11 March 2009
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