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Loans - an accounting aspect paper

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DisclaimerThis material is copyright. Apart from any fair dealing for the purposes of private study, research, criticism or review, as permitted under the Copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.
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Published on 20 Sep 07 by VICTORIAN DIVISION, THE TAX INSTITUTE

This paper covers:

  • loans - when does a loan arise?
  • is a loan different to an amount held on trust?
  • recognising loans and distinguishing them from contributed capital
  • ensuring there are no future disputes because all transactions are properly documented
  • role of an accountant in ‘creating’ loans - where does that debit entry go?
  • latest ATO Taxation Rulings and Determinations.

Author profile

Craig McCormick
Craig is an experienced accountant and tax consulting professional specialising in working with large international businesses, listed groups and large privately held businesses. He leads Grant Thornton's national research and development tax specialist team. In this role he works with clients involved in innovation and assists in securing R&D tax concessions, other innovation related government incentives and management of IP. - Current at 14 September 2010
Click here to expand/collapse more articles by Craig MCCORMICK.

 

This was presented at When is a Loan a Loan? .

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Individual sessions

Some legal aspects of loans

Author(s):  Michael Bearman

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Loans - tax aspects

Author(s):  Chris WOOKEY

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Loans - an accounting aspect

Author(s):  Craig MCCORMICK

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