The Australian Taxation Office (ATO) recently issued a notice on minimum yearly repayments on a Division 7A loan to avoid an unfranked dividend.
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Decoding Division 7A – minimum yearly repayments
Avoid unexpected tax consequences by knowing how much to repay on a Division 7A loan.
Published 19 May 2024
Borrowing money from a private company might appear straightforward but it's crucial to consider the Division 7A rules. Otherwise, your clients may end up paying more tax than expected…