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Understanding Division 7A Loan Agreements: Key Deadlines and Requirements

By Theresa Allery|2024-08-26T19:35:19+10:00August 26th, 2024|Accountant Life, Business, Companies, corporate beneficiaries, division 7a, Private Company, Proper Taxation, Tax|

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 company's tax return lodgement date for the financial year in which the loan was made.

3 Things Business and Entity Owners Must Do Before 30 June

As an owner of a business or entity structure, there are certain actions that need to be taken prior to 30 June to avoid adverse tax consequences. 1. PRIVATE COMPANY (“DIV 7A”) LOANS Where a shareholder or associate of a private company takes money out of the company, this may be subject to the ‘Division