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Nov 2018 Tax Round Up - Significant changes to Div 7A

by Knowledge Shop Editor, on 01/11/18 19:15

A new consultation paper from Treasury flags significant changes to Division 7A that are intended to take effect from 1 July 2019.

Join the Knowledge Shop team for all this and more.

Members can download the full November 2018 Tax Round Up from the member-only website. To see what Knowledge Shop membership offers, call Julie on 1800 800 232 or take a tour online.

Join Michael Carruthers (Tax Director, Knowledge Shop), Ray Itaoui (Director, Hayes Knight), and Lisa Armstrong (MD, Knowledge Shop),for just the juicy bits of change for accountants and advisers:

  • The significant Division 7A reforms flagged – while only in consultation phase, practitioners will need to be across the significant reforms to Division 7A proposed to take effect from 1 July 2019.
  • Another change to the corporate tax rate - the implications of the latest round of changes to the corporate tax rate bringing forward tax cuts for companies under $50m. The implications and the problems for franking credits.
  • Compensation from financial institutions - the ATO's advice on how to treat a compensation payment from a financial institution.


Topics:Tax Round Up



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