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Division 7A of the Income Tax Assessment Act 1936 (Cth) (ITAA 1936) contains anti-avoidance provisions that are aimed at preventing private company shareholders from avoiding dividend taxation by accessing company profits in another form - eg, by way of a loan.
A loan from a private company to a shareholder or an associate of a shareholder may be deemed to be a dividend unless certain requirements are met.
A loan that complies with the criteria set out in section 109N of the ITAA 1936 (also known as a Division 7A Loan Agreement) will be exempted from being deemed to be a dividend.
Such a loan must be in writing and, amongst other criteria, must meet certain minimum interest rate and maximum term requirements.
This document uses Embedded Lawyer-Logic™ to create a compliant Division 7A Loan Agreement for a loan and/or loan facility.
✅ Any amount advanced after a particular date will be captured under the terms of this Division 7A Loan Agreement;
✅ The facility can start at the beginning of the relevant income tax year or on the day the Division 7A Loan Agreement is signed;
✅ Specific details of advances made before the date of the Division 7A Loan Agreement can be included; and/or
✅ Obligations to repay advances to be made in the future can be created.
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