Report Director use of the company’s money – Method 5
Director Loans from the company A company can make a loan to a shareholder or director. However, to avoid tax consequences, before the company tax return is due or lodged…
Report Director use of the company’s money or assets – Method 4
Dividends If the director also a shareholder of the company. A company can pay a distribution of its profits to its shareholders, which is known as a dividend. The…
Report Director use of the company’s money – Method 3
Director Loan Repayments of a loan to the company If a shareholder or director has previously loaned money to the company, the company can make repayments to the shareholder or…
Report Director use of the company’s money – Method 2
Director Fringe benefits Fringe benefits tax (FBT) applies when employees or their family or other associates, including directors of a company, receive certain benefits from their employer. This could…