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Travis
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Hi Mark

This agreement documents your intentions well. I would keep the agreement more flexible, without fixed dates of repayment.

From a tax perspective, if a private company that you own owes you money, no formal agreement is required, but having a paper trail of all of your company’s actions is best practice.

The ugly side of tax is where you owe the company money, which is not the case here. When you owe the company, formal loan agreements are required, and professional preparation of the loan documents is necessary.

Regards

Travis Allen CPA
http://www.hillyerriches.com.au