Division 7A webinar: Making loan repayments by journal entry
Event date and time: Tuesday, 4 May 2021, 12:00 - 1:30pm AEST
This webinar is free for Tax Institute members only. 1.5 CPD Hours will be allocated for this webinar.
Dividends are commonly used to make Division 7A loan repayments, often by way of a journal entry. It is important to ensure the payment of the dividend, and purported loan repayment, complies with strict rules across the Corporations Act and the tax law, including evidentiary obligations.
This timely, practical session, incorporating a live Q&A, will delve into the widespread practice of making loan repayments by journal entry and discuss:
– The circumstances in which a journal can constitute a payment, and how a journal can be used to effectively make a Division 7A loan repayment
– Obligations under the Corporations Act 2001, the tax law and the Tax Agent Services Act 2009
– Consequences of getting it wrong
– Strategies to get it right
– Tripartite and other common arrangements, illustrated with case studies
– A practical roadmap to assist practitioners
Facilitator:
Robyn Jacobson, CTA is the Senior Advocate at The Tax Institute. She has nearly three decades in the profession, including a public practice background which preceded her various training roles over 23 years. Robyn continues to be a regular conference and webinar presenter, and is an avid advocate, social media commentator, columnist, blogger and podcaster. She is also regularly quoted in the media. Robyn is a Fellow of both CA ANZ and CPA Australia, and a Registered Tax Agent. She regularly consults with The Treasury, ATO and professional bodies including as a member of the ATO’s Tax Practitioner Stewardship Group.
Presenters:
Todd Want, CTA is a Director in the Tax Services division at William Buck in Sydney, where he specialises in small-to-medium enterprise tax matters. Todd advises his clients on a broad range of tax issues, while he also provides specialist consulting services to accountants, lawyers, financial planners and other professionals in public practice to assist them in advising their clients. Todd is also a regular presenter for The Tax Institute at various conferences and events.
Rachel Vijayaraj, CTA is a senior associate at Brown Wright Stein Lawyers with a broad practice advising individuals and SME owners on tax, commercial, trust, estate planning, estate disputes and family provision matters. Rachel values forming meaningful relationships with clients and providing advice in collaboration with their accountants on their personal, business and tax affairs. Rachel has guided clients in dealing with the ATO on audits, objections, voluntary disclosures and early engagement. Rachel also heads up the not-for-profits practice at Brown Wright Stein.
Join us for the live webinar, or register and listen to the on-demand recording at a time that suits you.