tax return

Ways to Repay a Division 7A Loan

By |2024-09-19T15:14:02+10:00September 9th, 2024|Accountant Life, Business, Companies, corporate beneficiaries, division 7a, Private Company, Proper Taxation, Tax|

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 Interest and Principal: The borrower must make minimum yearly repayments, which include both interest and

Understanding Division 7A Loan Agreements: Key Deadlines and Requirements

By |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.

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