| 109UB: Lodgment of Amendment Requests |
| Reminder that amendment requests may need to be lodged as a result of the enactment of the replacement provision for section 109UB. |
| Amendments to the taxation of discretionary trusts (section 109UB) |
| On 29 June 2004, the Tax Laws Amendment (2004 Measure No.1) Bill received Royal Assent. This Bill contains, amongst other things, amendments to Division 7A of Part III of the Income Tax Assessment Act 1936 (ITAA 1936) (including the repeal of s109UB). |
| Changes to Division 7A - For your information and possible action - Company owner sample letter |
| We are writing to you to tell you about recent amendments to Division 7A that have been introduced to assist you to comply with your obligations under the law. The brochure ' Separating your personal and company money' (NAT 71938) accompanied this letter. |
| Changes to Division 7A - For your information and possible action - Tax agent sample letter |
| We are writing to you to tell you about recent amendments to Division 7A that have been introduced to assist taxpayers to comply with their obligations under the law. The brochure ' Separating your personal and company money' (NAT 71938) accompanied this letter. |
| Division 7A - A guide to calculating payments forming part of the 'corrective action' in Law Administration Practice Statement PS LA 2007/20 |
| This fact sheet provides guidance on how to calculate payments to satisfy the specific corrective action described in the practice statement. |
| Division 7A - answers to frequently asked questions |
| Division 7A is an integrity measure to ensure that private companies can no longer make tax free distributions of profits to shareholders or shareholders' associates in the form of payments, loans and debts forgiven. |
| Division 7A - benchmark interest rates |
| For the purposes of Division 7A, the benchmark interest rate for an income year is the Indicator Lending Rates - Bank variable housing loans interest rate last published by the Reserve Bank of Australia before the start of the income year. |
| Division 7A - closely held corporate limited partnerships |
| This fact sheet provides information on the application of Division 7A to arrangements involving loans or payments made, or debts that are forgiven by, a closely-held corporate limited partnership to partners or associates of the partner. |
| Division 7A - Commissioner's discretion to disregard a deemed dividend in the 2001-02 to 2006-07 income years |
| This fact sheet is intended as a guide to accompany the Law Administration Practice Statement PS LA 2007/20. |
| Division 7A - Debt forgiveness by private companies |
| Forgiveness by private companies of debts of shareholders and shareholders' associates treated as dividends under Division 7A of Part III of the Income Tax Assessment Act 1936. |
| Division 7A - distributable surplus |
| How to calculate the distributable surplus of a private company and its effect on amounts treated as dividends under Division 7A of Part III of the Income Tax Assessment Act 1936. |
| Division 7A - Exercise of Commissioner's discretion under section 109RB to disregard the operation of Division 7A or allow a deemed dividend to be franked |
| Outlines the Commissioner's discretion under section 109RB to disregard the operation of Division 7A or allow a deemed dividend to be franked. |
| Division 7A - Extended period for repayments of amalgamated loans |
| This fact sheet provides more information on the Commissioner's discretion to extend the period for making repayments of amalgamated loans where you cannot make the minimum yearly repayment due to circumstances beyond your control. |
| Division 7A - Interposed entity transactions - Payments and loans |
| Practical guidance on the operation of interposed entity provisions. when the private company can be taken to have made a payment or loan to the shareholder (or their associate). |
| Division 7A - loans by private companies |
| Information about loans made by private companies to shareholders, and associates of shareholders, for the purposes of Division 7A. |
| Division 7A - overview |
| Payments, loans and debts forgiven by private companies to shareholders and shareholders' associates treated as dividends under Division 7A of Part III of the Income Tax Assessment Act 1936. |
| Division 7A - Payments & loans through interposed entities |
| Payments & loans by private companies to shareholders & shareholders' associates through interposed entities treated as dividends under Division 7A of Part III of the Income Tax Assessment Act 1936. |
| Division 7A - Payments and loans by interposed entities involving guarantees |
| Payments & loans by private companies to shareholders & shareholders' associates through interposed entities relying on guarantees treated as dividends under Division 7A of Part III of the Income Tax Assessment Act 1936. |
| Division 7A - payments by private companies |
| Payments by private companies to shareholders and shareholders' associates treated as dividends under Division 7A of Part III of the Income Tax Assessment Act 1936. |
| Division 7A - Residual Operation of Section 108 |
| Payments, loans & debts forgiven by private companies to shareholders & shareholders' associates treated as dividends under section 108 of the Income Tax Assessment Act 1936. |
| Division 7A - rulings, policies and law |
| Division 7A of Part III of the Income Tax Assessment Act 1936 may apply to private companies that make tax-free distributions to shareholders or shareholders' associates in the form of payments, loans or debts forgiven. |
| Division 7A - separating your personal and company money |
| If you're a private company owner, under tax law you must treat your privates expenses separately from your company expenses. (NAT 71938-02.2008) |
| Division 7A - Trust amounts treated as dividends - debt forgiveness |
| Division 7A rules as they apply to debt forgiveness. |
| Division 7A - Trust amounts treated as dividends - Loans |
| Division 7A rules as they apply to loans. |
| Division 7A - trust amounts treated as dividends - overview |
| Trust amounts treated as loans by private companies to shareholders and shareholders' associates under Division 7A of Part III of the Income Tax Assessment Act 1936. |
| Division 7A - trust amounts treated as dividends - payments |
| Division 7A rules as they apply to payments. |
| Division 7A - trust amounts treated as dividends - payments and loans through interposed entities |
| This fact sheet provides information on payments and loans made by the trustee to a shareholder or an associate of a shareholder of the company through one or more interposed entities rather than directly to the shareholder or their associate. |
| Division 7A - unpaid present entitlement |
| Important supplementary issues relating to Taxation Ruling TR 2010/3 and Law Administration Practice Statement PS LA 2010/4. |
| Division 7A and Fringe Benefits Tax (FBT) |
| What happens when Division 7A of Part III of the Income Tax Assessment Act and the Fringe Benefits Tax Assessment Act both apply to a payment, loan or debt forgiven by a private company to a shareholder or shareholder's associate. |
| Division 7A calculator and decision tool |
| Determine if a direct transaction by a private company to a shareholder or their associate will be deemed a dividend under Division 7A, and calculate the minimum yearly repayment required on a loan to avoid a deemed dividend arising under Division 7A. |
| Taxpayer Alert 2010/6 - The use of an unrelated trust to access funds of a private company |
| Taxpayer Alert 2010/6 outlines an arrangement where a private company invests funds in an unrelated trust. |