This presentation covers what action and documentation is necessary, and when this documentation and action are required to ensure that you have managed to keep Division 7A at bay.
This presentation addresses the key issues of:
- These wretched old UPEs - are they debt? Do Unpaid Present Entitlements (UPEs) "morph" into debt? Can UPEs be tidied up? What if the trust has run out of assets?
- Timing of recording of dividends
- Dealing with journal entries
- What about old loans, that old chestnut?