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Division 7A paper

Member Price: $57.00
Non Member Price: $75.00

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Published on 23 Mar 22 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

This paper covers:

  • Brief recap on why Division 7A exists
  • Loan repayments by direct set-off against a dividend
  • What if the minutes or dividend statement are prepared late?
  • Compromise the minimum annual repayment?
  • Loan repayments by round-robin set-off against a dividend
  • Circular round of payments by journal entries
  • Not legally effective payments – Division 7A breach!
  • ATO’s position
  • Asset protection risk
  • Solutions and
  • Practical examples.

Author profile

Timothy Edgecombe CTA
Tim Edgecombe, CTA, has over 20 years’ experience in public practice with Chartered Accounting firms, including with Big 4 firms and continues to act as a consultant for several accounting firms, ranging from large second tier to sole practitioners. Tim has significant experience in the tax issues encountered by small to medium enterprises and brings these practical insights to training presentations. He regularly presents tax related topics at a range of professional forums on behalf of other industry bodies. - Current at 17 March 2023

 

This was presented at SA Tax Forum .

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