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There may be a “tax difference” at the next election

After announcing Labor: would not reduce the CGT discount to 25% as they proposed to do in the 2017 election, would not limit negative gearing to new housing as they proposed to do in the 2017 election, would not stop SMSFs claiming refundable imputation credits as they proposed to do in the 2017 election, and […]

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Journals alone cannot make a Division 7A minimum yearly repayment

Most Division 7A loans are repaid without a single bank transaction. They are typically made by way of set-off against a dividend declared by the company. But what are the requirements we need to follow to make these set offs legal?  Some people say that we do a journal that creates a dividend that equals […]