CCH Learning

E-LearningAccounting

Division 7A Update

Duration
60 min
CPD
1.0 hour
Format
E-Learning
Division 7A Update

Overview

Join our session to demystify Division 7A rules, learn how to avoid pitfalls with compliant loan agreements, and understand the latest ATO and court perspectives on unpaid present entitlements

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. 

This session will provide an overview of the current law in this complex area, together with the details of how to avoid Division 7A by putting in place a complying loan agreement. In addition, the session will highlight the ATO’s changing stance on unpaid present entitlements, and the attitude of the courts which puts that view in jeopardy.    

During the session, you will be guided through the maze, including:  

  • Overview of the existing Division 7A rules
  • What needs to be done to put in place a complying loan agreement to avoid Division 7A, including documentation and timing requirements?
  • ATO’s treatment of unpaid present entitlements arising before 30 June 2022
  • When will post 30 June 2022 unpaid present entitlements (UPE’s) become subject to Division 7A? Overview of the ATO’s latest position, highlighting key differences to previous guidance. What does this mean for bucket companies? 
  • The newly expressed AAT hostility to the ATO’s approach to UPEs – we analyse a recent Tribunal decision and seek to understand the impact on the ATO and taxpayers; is this the end of the road for Div 7A in the context of UPE’s and what should taxpayers do?

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.  

This On Demand Includes: 

  • Recording of the Live Webinar, which can be viewed multiple times
  • PowerPoint Presentation
  • Verbatim Transcript, with Searchability
  • Supporting Documentation
  • CPD Quiz
  • CPD Certificate 

Course syllabus

3 lessons

  1. Video – Division 7A UpdateVideo
  2. Feedback Survey 2024Survey
  3. Knowledge QuizTest

Your presenter

Presenter:H&R Block

Mark Chapman, Tax Communications Director, H&R Block.

Since 2015, Mark 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 the author of Life and Taxes: A Look at Life Through Tax and has edited and updated the second through to the seventh editions of Australian Practical Tax Examples, published between 2019 and 2024, by Wolters Kluwer CCH Australia.

Related

Continue learning.

View catalogue