Prior to 4 June 1987 s108 only applied when a private company made a payment to or for the benefit of a shareholder. When considering whether very old loans should be cleaned up this limitation on ATO power should be born in mind. Despite introduction of Div 7A loans to shareholders (or their associates) which are employment related also remain subject to the FBT legislation. This produces an onerous and confusiimg situation in which such loans must comply with two differing sets of legislative standards. Despite the introduction of Div 7A s108 remains operative as an alternative weapon for the ATO.
Miscellaneous
1999
Private Company Loans. Division 7A - practical ssues
Source: New South Wales
Published Date: 23 Apr 1999
Details
- Published By: Les Szekely
- Published On:23 Apr 1999
- Event Name:Division 7A and private company distributions
- Session Name:Private Company Loans. Division 7A - practical ssues
- Read Time:30+ minutes
- Took place at:Grace Hotel
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Tags
Miscellaneous
1999
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