Recent and Upcoming Changes to Div 7A

Recent and Upcoming Changes to Div 7A
After years and years of delays, the government has finally released its proposed changes to Division 7A

These include ditching the current seven and 25 year loans models with a single 10 year loan, different calculation methods for repayments (and the timing of those repayments), an annual benchmark interest rate matching the small business and overdraft indicator lending rate (currently 8.3%), no requirement for a formal written loan agreement (but “evidence” is required), the ability for recipients to self correct mistakes without informing the Commissioner, removing the distributable surplus calculations and many other changes… and all this starts on 1 July 2019.

Also, after eight years of arguing with the Commissioner about whether unpaid present entitlements (UPEs) fall within Div 7A, the argument is over. UPEs are to be treated just like a loan.

In this session we will consider all these changes to Division 7A as well as a few other announcements about Division 7A that have happened recently.

Presented by: Ken Mansell

           

            
Ken currently works in a part-time capacity for both the Australian and Solomon Island government on tax policy and provides tax and super education for a series of organisations. He has previously worked on the secretariat of the Henry Review and in the office of the Assistant Treasurer as a tax advisor. Ken has also worked in the tax division for both KPMG and Deloitte, as a tax trainer and tax specialist for the Institute of Chartered Accountants in Australia and as the head of taxation for the Seven Network Limited group and Raytheon Australia. Further, he has worked as a legal researcher in both commercial and academic role. 

CPD hours: 1.0
Non-Member Cost: $119
Member Cost: $99

Testimonial  

"Ken is a great presenter - he explains all topics brilliantly and has very useful examples"
Lisa Callender

 
When
20/11/2018 11:00 AM - 20/11/2018 12:00 PM
Where
Online, Australia

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