Division 7A - How well do you think you know the provisions?
Published Date: 6 Jun 2024
It has been more than 26 years since Division 7A was introduced into the Income Tax Assessment Act 1936. One would think that basic principles about loans, distributions and payments by companies would be well established by now. However, recently the ATO have been forced to reconsider some of these basic principles and how Division 7A applies. This includes the release of TD 2022/11 concerning the ATOs view of unpaid entitlements and the recent AAT decision in Bendel which challenges that interpretation.
We have also seen the ATO recently take different approaches on its application of Division 7A to partners in partnerships, and on how section 109R (the loan repayment provision) applies where there are interposed entities. This session explores some of these key developments and discuss Division 7A risk management issues in light of these many current uncertainties.
Individual Session
Details
- Published By: Alexis Kokkinos ATI
- Published On:6 Jun 2024
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