Division 7A Deemed Dividends – Not just a tax issue
Overview
Division 7A ‘deemed dividends’ affect family law, estate planning, insolvency practice, asset protection planning and sales of businesses – not just tax.
In a tax context, Division 7A can ‘deem’ certain transactions between a company and its shareholders and/or their associates to be ‘dividends’, in the absence of complying Div 7A loan requirements being met.
Without awareness and careful management, this can result in many unanticipated ‘unpleasant surprises’ for clients and advisors, including on:
- company establishment and management over time
- family law property settlements,
- shareholder or associate wills and estates
- insolvency practice – both in company liquidations and personal bankruptcies for shareholders or associates
- asset protection planning – due to those Div 7A loans being enforceable by insolvency trustees or liquidators
- sales of businesses – as those Div 7A loans need to be dealt with when shareholders exit their shareholding
Learning Outcomes:
Professional practitioner understanding of the:
- nature and extent of potential Division 7A impacts on such transactions
- advice on how to recognise and best deal with such problems
- legal risks for clients and their advisors from such impacts
Suited to:
Accountants, tax practitioners, BAS agents, R&D advisors and lawyers serving small businesses, private groups, wealthy individuals, large businesses and multinationals
This On Demand includes:
- a recording of the webinar Event which can be viewed multiple times
- a PDF of the presenter’s PowerPoint
- a verbatim Transcript
- any supporting documentation
- a CPD Certificate after successful completion of the Knowledge Quiz
Course syllabus
3 lessons
- Video – Division 7A Deemed Dividends – Not just a tax issueVideo
- FeedbackSurvey
- Knowledge QuizTest
Your presenter
Bruce CollinsTax Controversy Partners
is the founder and principal solicitor at Tax Controversy Partners Pty Limited, currently helping clients to resolve all types of tax issues issues with the ATO and SROs. Before moving into private practice in 2017, Bruce worked for over 35 years in the Tax Office, a third of this time as a Senior Executive in what is now Client Engagement Group, covering most ATO functions. Bruce was the leader of the Technical & Case Leadership area in Private Wealth for several years prior to leaving the ATO, as well as having previously been one of the Chairs of the ATO’s Division 7A Panel.
Bruce has an Accounting Certificate (1989), a First-Class Honours Degree in Law (1995), a Graduate Diploma in Legal Practice (1996), a Masters of Taxation (2003) and a Masters of International Taxation (2006). Bruce is a Chartered Tax Advisor with the Tax Institute, a member of the Law Society of NSW and is both a member of the Law Council of Australia and current Chair of their SME Committee