What is a payment?

A payment means a payment or crediting of an amount to you on your behalf, or for your benefit. A payment can also include a transfer of property to you.

The meaning of 'payment' has been extended. For Division 7A purposes, payment also includes the provision of an asset for use by you that does not involve a transfer of property, but only where the provision of an asset payment was made on or after 1 July 2009. See Can the use of assets (other than a transfer of property) be treated as a payment?

A loan is not a payment.

    Last modified: 27 Jul 2016QC 17340