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Category: Division 7A

13 September 2021 - GAP Accountants

The ATO has recently issued approximately 30,000 Division 293 assessments for the 2018/19 and 2019/20 financial years.
Due to …

07 August 2021 - GAP Accountants

The Division 7A benchmark interest rate for the 2022 income year remains unchanged from the 2021 rate of …

28 July 2021 - GAP Accountants

Under a complying Division 7A loan from a private company, the borrower must make minimum yearly repayments (‘MYR’) …

14 July 2020 - GAP Accountants

The ATO has announced some limited relief for private companies that have loans to their shareholders or related …

15 August 2019 - Evelyn Bakas

The ATO has updated a number of rates and thresholds on their website, including the following.
Division 7A – …

05 December 2018 - GAP Accountants

The Government has released a consultation paper outlining proposed reforms to ‘simplify’ the loan agreements that are generally …

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