Division 7A Explained (Part 1): How To Avoid Tax Traps
Update: 2025-03-12
Description
Do you advise business owners on Division 7A issues? Stay ahead of ATO compliance risks by understanding how unpaid present entitlements, company loans, and deemed dividends could impact your clients — and how to protect them from costly tax penalties.
In Part 1 of this two-part series, host Andrew sits down with Archana Manapakkam, Special Counsel in Tax Law, to break down:
- What Division 7A is and why it matters for private companies?
- Common mistakes business owners make when withdrawing company funds
- How the ATO classifies loans as deemed dividends (and what that means for tax bills)
- The risks of using company assets for personal use
Key compliance rules accountants and tax advisers need to know
Learn more about us at https://www.velocitylegal.com.au/
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