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  2010

The latest terrain for Div 7A and Unpaid Present Entitlements

Source: South Australia

Published Date: 3 Nov 2010

 
Accompanying the release of Taxation Ruling TR 2010/3, the ATO has released a finalised Practice Statement offering practical guidance on the administrative aspects of the Ruling and its application to UPEs.

This event covered the practical application of the Ruling as outlined in the Practice Statement such as:

  • providing guidance for distinguishing between "Section two loans"? from "Section three loans"?
  • is it necessary to have a sub-trust in place for each UPE (and any requirements for a sub-trust)?
  • consequences where a "Section two loan"? or "Section three loan"? arises
  • if a UPE is deemed to be a Division 7A loan, when will it be deemed a loan?
  • self corrective options applicable until 31 December 2011.

Division 7A and UPEs: The final practice statement at work

Author(s): Joanne Casburn FTI
Materials from this session:

Details

  • Published On:3 Nov 2010
  • Took place at:Intercontinental Adelaide, North Terrace Adelaide

The material is copyright. Apart any fair dealing for the purpose of private study,

research critisism or review, as permitted under the copyright Act, no part may be rerpoduced by any process without written permission from The Tax Institute.

Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

This material is copyright. Apart from any fair dealing for the purpose of private study., research, critisism or review, as permitted under teh copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opininons are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

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