This comprehensive course illustrates the application of all the substantive provisions of Division 7A set out in Subdivisions A to F. The complex issues relating to Division 7A of the Income Tax Assessment Act (1936) (the ITAA) are explained via case studies, and include invaluable tips, tax traps and warnings throughout.
This course consists of one hard copy learning manual and one online assessment.
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Understand how Division 7A applies to payments, loans and debt
Identify when cash payments, credited amounts, transfers of property and the provision for the use of assets are deemed payments by private companies to entities
Determine what is deemed to be loans made by private companies to related entities
Review scenarios where a debt forgiveness can arise
Examine when unpaid present entitlements owed by trusts to private company beneficiaries are deemed loans
Highlight the extension of Division 7A to trusts where the trust enters into a payment, loan or debt forgiveness transaction
Illustrate the interaction of Division 7A and other key tax provisions
Finance professionals working in Public Practice and or SME entities with responsibilities requiring detailed knowledge of the provisions of Division 7A.