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Notes Online Home 2019 Tax Hot Spots Division 7A – A new era beckons
In this chapter of the seminar notes, we investigate Division 7A – a new era beckons. In more detail:
- NEW simplified ‘loan rules’ to apply from 1 July 2019
- Unpaid present entitlements between a trust and a company must now be complying loans
- Proposed changes aimed at closing valuable debt forgiveness loophole from 1 July 2019
- Proposed change introduces a safe harbour rule to value the use of company assets
- NTAA Division 7A Action Plan for new and existing loans and UPEs