Tax traps – beware the Division 7A snake pit
Division 7A of the Income Tax Assessment Act 1936 is a poisonous well of hissing snakes for general practitioners, writes JIM MAIN.
Income Tax Assessment Act 1936
The pain of company guarantees: beware hidden tax stings
A third-party loan guaranteed by a private company can be deemed an unfranked dividend to the borrower under division 7A of the Income Tax Assessment Act…