Company Loans Archives - MartinCo https://www.martinco.com.au Chartered Accountants & Financial Advisers Tue, 16 May 2017 02:07:52 +0000 en-AU hourly 1 https://wordpress.org/?v=6.0 Tax Planning: Private Company Loans https://www.martinco.com.au/tax-planning-private-company-loans/ https://www.martinco.com.au/tax-planning-private-company-loans/#respond Mon, 19 Jun 2017 01:34:55 +0000 https://www.martinco.com.au/?p=2251 The end of the 2016/17 financial year is almost here, so now's the time to look at Private Company Loans to minimise your tax.

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]]> The end of the 2016/17 financial year is almost here, so now’s the time to look at Private Company Loans to minimise your tax.

As the owner of a private company, it’s normal – and completely legal – to borrow money from your business. However, thanks to Division 7A of the Tax Act, failing to properly record that loan could land you in some serious strife come tax time.

Business owners who have borrowed funds from their company must ensure that the appropriate principal and interest repayments are made by 30 June 2017.

Contact us TODAY before the June 30 deadline for assistance to reduce your tax!

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