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Individual Podcasts

Division 7A: Are There Any Ticking Time Bombs in Your Client Base?

The ATO has been active in recent times in getting the message out there that Division 7A is proving to be a major cause of concern for them, with compliance levels not at a standard they would like to see. This session takes a look at the main issues attracting the ATO's attentio
PRESENTED BY Linda Tapiolas Partner, Chartered Tax Adviser - Cooper Grace Ward , Brisbane

Date/Time

About the Podcast

The ATO has been active in recent times in getting the message out there that Division 7A is proving to be a major cause of concern for them, with compliance levels not at a standard they would like to see. This session takes a look at the main issues attracting the ATO's attention, along with strategies to assist with defusing any potential adverse outcomes, including:

  • Arrangements not included in the financial statements that are attracting the ATO's attention
  • How the higher interest rate environment is impacting on Division 7A compliance, including:
    • determining interest deductibility
    • strategies to counter.
  • Has the Bendel case (Bendel v FCT [2023] AATA 3074) changed the treatment for a Division 7A unpaid present entitlement?
  • How the ATO is applying Section 109R ITAA 1936 to deny loan repayments reducing a Division 7A loan
  • Can amendment time limits assist with overlooked Division 7A issues?
  • Can restructuring solve a Division 7A problem? (Ierna v C of T [2024] FCA 592)
  • How generous is the Commissioner being with applying his discretion to disregard a Division 7A dividend or allow the deemed dividend to be franked?  (Sec. 109RB ITAA 1936; TR 2010/8; PS LA 2011/29)
  • How will uncovering non-addressed Division 7A issues fare in relation to the Tax Agent Services Act 2009 breach reporting obligations for:
    • breach self-reporting
    • breach reporting of another tax practitioner when taking on a new client with unattended Division 7A issues

Presented By

Linda Tapiolas
Partner, Chartered Tax Adviser, Cooper Grace Ward Brisbane, Qld

As a partner in Cooper Grace Ward’s commercial team, Linda specialises in providing tailored advice and support services to accountants, financial planners and other professional advisers.

Linda provides technical advice on complex tax, capital gains tax (CGT), Division 7A issues, and acting on business sales and acquisitions to ensure clients achieve commercial and tax effective outcomes.

Prior to joining Cooper Grace Ward, Linda worked as an accountant for 18 years, advising clients on capital gains, business acquisitions, and restructuring, providing her with a unique insight into her current clients’ business environment. She also regularly conducts seminars and training on topics including business structuring, CGT small business concessions and Division 7A issues.

CPD Information

40 minutes 

0.65 CPD hours/units/points

WA Lawyers – TEN is unable to verify that you have earned CPD for this product as we cannot verify that you have listened to the podcast which is a requirement of the LPBWA.  TEN is an accredited provider.

Enquiries/Assistance

If you need assistance or have an enquiry, please do not hesitate to contact us, on (03) 8601 7700 or email: [email protected]

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