Division 7A Latest Developments.

Description

An overview of the current state of play with Division 7A including COVID-19 concessions, proposed fundamental changes and significant cases.

The Division 7A rules are one of the most complex and easily misunderstood areas of tax law and the tax implications for clients that fall foul of the rules can be profound.

Big changes are coming that clients need to understand, case law constantly shifts the goalposts and COVID-19 is causing financial hardship for those affected by the law. This webinar takes a look at all of these to provide a full stock-take on where we are with Division 7A.

During the webinar, you will be guided through the following topics:

  • Overview of the existing Division 7A rules
  • Summary of the proposed changes to Division 7A including a review of new simplified loan rules and status of UPEs, plus latest news on commencement date
  • COVID-19 Div 7A loan repayment concessions
  • What recent cases tell us about the application of Div 7A:
  • The implications of failing to keep proper records
  • How “directors fees” came to be treated as Div 7A loans
  • How a super contribution gave rise to a Div 7A liability
  • When can a shareholder argue that a failure to make a minimum yearly repayment is beyond their control?

Webinar Learning Outcomes:
Participants will gain an up to date understanding of proposed and actual changes to the Division 7A rules, how they will impact clients, what advice needs to be given and what action needs to be taken. Material reflects and clarifies ATO guidance and case law.

Suited to:
Tax Agents, accountants, lawyers and other professionals who act for private companies and associated entities (including individuals and trusts) with actual or potential Division 7A issues.

Presenter Bio:
Since 2015, Mark Chapman has been Director of Tax Communications with H&R Block Australia. He writes regularly on tax issues for numerous media outlets and presents on topical tax topics at seminars and other events. He broadcasts frequently on radio and television and writes a regular column for Money Magazine and Yahoo7 Finance.  As a tax practitioner in the UK, he occupied a number of senior positions before moving to Australia in 2007 to join the Australian Taxation Office (ATO) as a senior director. Mark is also the author of Life and Taxes: A Look At Life Through Tax published by Wolters Kluwer, CCH Australia.

Mark has over 25 year’s experience as a tax professional in both the UK and Australia, specialising in tax for small business and individuals. He is a fellow of the Institute of Chartered Accountants in England and Wales, a fellow of CPA Australia and a member of the Chartered Institute of Taxation. He holds a Masters of Taxation Law with the University of New South Wales.

You will be provided with:

  • PowerPoint presentation slide deck
  • Webinar Recording to view multiple times for up to 6 months
  • An opportunity to ask questions

  • Webinar Recording
    • PD hours: 1
    Stream this recording multiple times at your convenience.
    • $185.00 incl. GST

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One-Connection-One-Fee

Our webinars operate on a 'one-connection-one-fee' basis so you can have your whole team participate for one cost effective price and claim CPD points.

Recordings

Like the topic but can’t make the time? Register for the Live Session and you’ll receive the Recording regardless! You can watch it as many times as you like for up to 6 months. You will also receive Supporting Documentation.