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MyGreatIdea
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From thread http://www.flyingsolo.com.au/forums/money-matters/13397-director-loan-company.html?highlight=director+loan

JamesMillar, post: 75272 wrote:
I think I see the confusion. Your accountant is doing the right thing.

Yes you will get credits to your directors loan for expenses paid out of your own pocket. In this case the purchase of a car. The company will owe you that money and when it’s repaid you will not pay tax personally on the receipt. The confusion is that the only way the company is going to generate sufficient funds to repay you that loan is to generate profits (unless the company does in fact get a loan so that it can pay you out). If the company generates profits it will pay company tax. The payment back to you is not an expense or deduction from the business income so even if the company pays you will it will simultaneously still have a tax bill unaffected by the repayment to you. the company is paying tax irrespective of whether it pays you back or not – the two issues are unrelated.

This reply to a similar thread a couple of weeks ago might help you.

Wendy :)