Join presenters Daniel Smedley and Neil Brydges in our September live webinar.
Since at least 2009 the ATO has been of the view that an unpaid present entitlement (UPE) falls within the extended definition of ‘loan’ for the purpose of Division 7A. The ATO also considers that a UPE is not a debt for the purpose of the commercial debt forgiveness and Division 7A debt forgiveness rules.
What is the basis for the ATO views and what does this mean for dealing with – waiving, forgiving, assigning, or discharging - UPEs in the leadup to (possible) changes to Division 7A?
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This webinar will cover:
what the courts say about what is a UPE?
are those views definitive or are there differences in view and, if there are, what caused the differences?
do the courts’ views correspond with those of the ATO?
can the trust deed, trustee resolution, or accounting treatment of a UPE result in a change of classification between the time of creation and the time of dealing with the UPE?
what does the above mean when dealing with UPEs, including pre-2009 UPEs, and the application of Division 7A? and
are those dealings likely to attract ATO attention?
Presenters
Daniel Smedley
Daniel enjoys solving complex taxation and trust law issues for private enterprises who share his entrepreneurial spirit. He is a trusted confidant in designing and implementing robust personal and business succession plans. Daniel’s commitment to protecting and enhancing the commercial and personal interests of his clients consistently delivers great outcomes.
He is a regular presenter at state and national industry conventions, conferences and workshops.
Neil Brydges
Neil is a Principal Lawyer in the business law area, with a particular focus on taxation advice and disputes. Neil’s aim is to provide technical expertise to clients, commercially applied and in a friendly and approachable manner.
Neil’s practice involves advice, audits, disputes, and transactions. The client mix includes both family groups and business enterprises. Neil also regularly assists professional advisors, including tax agents, accountants and financial advisors, to understand complex legal issues and help them to better assist their own clients.
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