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  M&A Corporate tax 2013

Division 7A - How to fix up a mess

Source: Victoria

Published Date: 10 Oct 2013

 

Practitioners continue to encounter Div 7A errors and omissions, many of which are “inherited” from another tax agent.This presentation considers:

  • practical ways to deal with Div 7A errors, including applying for the Commissioner’s discretion in s 109RB
  • what are the risks if practitioners “fix up” the error but fail to notify the ATO or seek discretion unders 109RB?
  • whether taxpayers can self-correct if they miss a repayment
  • how to prevent UPEs from becoming a problem, including the more obscure Subdivs EA and EB issues that can arise where a quarantined UPE remains in existence
  • the Board of Taxation’s report of its review of Div 7Awhich was provided to the government in June 2013.

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  • Published By: Michael Parker CTA
  • Published On:10 Oct 2013
  • Took place at:Park Hyatt, Melbourne

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