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Ways to Repay a Division 7A Loan
Repaying a Division 7A loan correctly is crucial to avoid the loan being treated as an unfranked dividend, which can result in unexpected tax liabilities. Here are the primary ways to repay a Division 7A loan: 1. Minimum Yearly Repayments
Understanding Division 7A Loan Agreements: Key Deadlines and Requirements
When dealing with Division 7A loan agreements, it's crucial to adhere to specific timelines to ensure compliance with tax regulations. One of the most important deadlines to remember is that the loan agreement must be in writing before the
Maximizing Trust Profits: The Strategic Use of Corporate Beneficiaries in Australia
Trusts are a popular vehicle for both investment and business purposes. One effective strategy that trustees often employ is the use of corporate beneficiaries to distribute trust profits. This approach can offer several tax planning advantages. Here’s a detailed look
Breaking down Division 7A: Ensuring Proper Taxation of Private Company Profits
What is Division 7A? If you have a company within your family structure, it is likely that you have come across a tax concept called ‘Division 7A’. Division 7A is a set of rules within the Australian tax system,
Key Superfund Numbers You Need to Know
Current rates for the year ended 30 June 2024: Please note the above numbers are for general audience only. Each number above is subject to change depending on an individual's circumstances (taking into account details such as a person's
Proposed New Tax for Super Balances Over $3 Million
There has been much ruckus in the media about a proposed new tax for superfund balances over $3 million. This article breaks down the basics of what you need to know: Current rules First thing to note, is these