The dark corners of Div 7A
Source: Taxation In Australia Journal Article
Published Date: 1 Jul 2021
Division 7A of the Income Tax Assessment Act 1936 is scheduled to undergo major reforms. The last announcement by government scheduled those reforms to begin from 1 July following royal assent to the necessary amending legislation. At the time of submitting this article, it appeared that the reforms are unlikely to begin, for most taxpayers, until financial years beginning on or
after 1 July 2022. This article highlights issues with the current Div 7A rules, and discusses the proposed reforms and their impact.
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Details
- Published By: Andrew Noolan CTA
- Published On:1 Jul 2021
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