Legislation

ITAA 1936 s 140 of the Corporations Act , where a loan is made to a member and it is agreed that the terms of the loan are as specified in the relevant loan clause in the constitution, this will be sufficient to satisfy the requirement of a written agreement for the purpose of paragraph 109N(1)(a) of Division 7A

ATO documents that consider ITAA 1936 s 140 of the Corporations Act , where a loan is made to a member and it is agreed that the terms of the loan are as specified in the relevant loan clause in the constitution, this will be sufficient to satisfy the requirement of a written agreement for the purpose of paragraph 109N(1)(a) of Division 7A

1 document

TD 2004/D65 (Finalised)replacedTD · 2004

Income tax: If a shareholder borrows from a private company under a clause in the company's constitution setting out the terms on which such loans are to be made, is there a 'written agreement' for the purposes of paragraph 109N(1)(a) of Division 7A of the Income Tax Assessment Act 1936 ?