Division 7A has been with us for more than a quarter of a century yet, following further refinements to the ATO’s treatment of unpaid present entitlements, the operation of Division 7A appears far from set in stone. This session looks at what has changed and what remains the same. Using practical examples, the session covers:
- Recap on the policy intent of Division 7A
- What practically changes following the finalisation of TD 2022/11?
- How effective are your clients’ minimum yearly repayments
- Direct set-off against a dividend
- Round-robin set-off against a dividend
- Circular round of payments by journal entries
- Consequences of failing to make minimum yearly repayments; and
- What are your options when you take on a new client and discover debit loans that have not been treated correctly.