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Trustee loans

Last updated 26 July 2004

Where a trustee makes a loan to a shareholder or associate of a private company and the private company is a beneficiary of the trust, a deemed loan may arise if:

  • the private company is or has been presently entitled to an amount from the net income of the trust estate
  • the trustee has not paid the amount to the private company
  • the trustee has made a loan to a shareholder of the private company or an associate of the shareholder after the time that the private company first became presently entitled to that amount.

QC99375