As a practitioner, it is essential to maintain an up-to-date working knowledge of Division 7A in order to ensure that your clients’ affairs continue to be administered in accordance with the requirements of the law.
A substantial number of changes have been introduced to the Division 7A legislation with effect from 1 July 2009. While some of the changes were highly technical in nature and designed to fix minor problems in the existing law, there also were some substantial changes that may impact on the way in which business and investment structures are administered.
This session analyses the changes that are most likely to impact on clients and also considers a number of recent Court decisions and the way in which they impact how Division 7A is administered on a day-to-day basis.
Session Outline
This session will cover:
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The calculation of a company’s distributable surplus;
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The private use of assets owned by a company;
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Other important legislative changes introduced with effect from 1 July 2009;
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Trust distributions and Division 7A;
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Exemptions from Division 7A;
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The specific anti-avoidance provisions within Division 7A; and
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The Commissioner’s discretion to disregard a deemed dividend or allow it to be franked.
Session Includes:
All delegates will receive a copy of the presentation and any handouts.
CPE Hours:
Earn 1.5 CPE Hours
Presenter
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Sam Ayoubi CA
Senior Tax Trainer
The Institute of Chartered Accountants in Australia
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