Take money out of the company for private purposes
Director loan and Division 7A If a Director or Shareholder take money out of the company or use its assets for private purposes, an unfranked, deemed ‘Division 7A’ dividend can…
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 – 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…