payments

Unpacking statute-barred debts

  Various tax implications can arise when a debt becomes statute-barred. In simple terms, a debt is statute-barred when it has reached a statutory limitation period where it can no longer be legally recovered by creditors. Each state and territory in Australia contains its own “statute of limitation” provisions that provide a procedural basis for

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Need help with Division 7A? Watch the ATO’s instructional (CPD) videos

The following videos, which deal with Division 7A matters, have been developed by the ATO in response to feedback from tax professionals received during webinars that it hosted over 2016. Need help with Division 7A? Division 7A may apply when payments or loans are provided by a private company to a shareholder or their associate.

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