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 RECORDED WEBINAR: Accounting for Trust Distributions, Division 7A Loans and Unpaid Present Entitlements

RECORDED:  Wednesday, 14th November 2012

LENGTH:  2 hours 

Much has changed since we last covered this topic two years ago.  While the focus in recent times has been on the trust distribution resolutions, the accounting entries that support them are just as important.  This presentation reviews the changes to accounting entries as a result of the 2011 streaming rules and the new rules on present entitlements, and Division 7A loans generally.
 
  • Accounting for Trust distributions
    • Trust distributions under the proportionate view - Accounting for distributable income - Creating specific entitlements in the books of account - Streaming capital gains - Franked dividends and notional amounts - Pooled and unpooled franked dividends - Notional amounts
  • Accounting for Division 7A loans and payments
    • Keeping track of initial loans - Creating an amalgamated loan - Repayments and interest on amalgamated loans - Dividends as satisfaction of repayment - Division 7A payments - Division 7A payments converted to loans
  • Accounting for unpaid present entitlements of corporate beneficiaries
    • Accounting for pre-December 2009 loans - Section 2 Loans generally - Accounting for section 3 loans generally - Accounting for Section 2 and Section 3 loans turned into 7 year loans - Accounting for subtrusts and ten year arrangements 
PRESENTED BY: Stephen Holmes, WMS Chartered Accountants, Qld.
 
Stephen has over twenty years experience in the accounting profession including stints as a tax manager at Ernst & Young and Principal at an ASX listed accounting firm.
 
Since 1994, Stephen has concentrated on tax consulting and provided high end tax advice to his portfolio of clients.  Stephen not only provides tax advice to the firm’s clients but he is also a resource for other accounting firms on technical or complex tax matters.
 
Stephen is also a regular speaker for the Taxation Institute of Australia, Institute of Chartered Accountants and Television Education Network.  He has presented papers at the TIA National Tax Convention and the 2011 ICAA Winter Tax Schools.
 



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Product Code: WBANOV12
 Price:  $220.00 (Inclusive of GST)
© 2022 Television Education Network Pty Ltd. All rights reserved. The program for this webinar is copyright and may not be reproduced in any form without the prior written consent of the copyright owner.