Non-commercial loans

The new rules will allow a loan from a private company to a shareholder (or their associate), to be repaid or put on a commercial footing before the earlier of the due date for lodgement or lodgement of a private company’s income tax return for the year in which the loan is made, in order to avoid the loan being treated as a deemed dividend for the purposes of Division 7A. Published: June 8 2005

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