Home › Forums › Money matters › Dividend payments .. help! › Reply To: Dividend payments .. help!
November 30, 2020 at 12:40 am
#1224520
jayen, post: 271515, member: 54988 wrote:
james’s reply led me to https://www.ato.gov.au/business/private-company-benefits—division-7a-dividends/in-detail/division-7a—loans/ which looks highly relevant
Yes Div7A is the section of the income tax legislation I was referring to that governs debit loans advanced by companies to related parties. It essentially prevents people endlessly drawing money out of their company without triggering personal tax.
Helping build better businesses and better lives with expert financial and taxation advice.
info@360partners.com.au
www.360partners.com.au
03 9005 4900
