From the desk of Christopher Emmanuel,

During December 2009, ATO is going to send letters to all tax practitioners who has corporate business clients with annual turnover of $2million to $250million about debit loan with shareholders or shareholders’ associates.

Private company operators in their role as shareholders or associates of shareholders can be affected by Division 7A if they don’t keep their private expenses separate to the company.

For more information relating to Division 7A affecting private company, please relate to the ATO website here.

Regards,

Christopher Emmanuel

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