Loan accounts are a prevalent feature in the trust and company environment, involving beneficiaries, shareholders, and directors. Understanding the tax implications of such loan accounts, especially when no interest or repayment is charged, or when it is waived, is crucial. This knowledge empowers you to navigate potential tax implications such as donations tax, dividends tax, capital gains tax, or even the possibility of no tax at all.
Join us for an informative session where we aim to answer these questions.
This session will cover the tax implications of the following:
- Loans to and from companies with shareholders (including directors who are also shareholders)
- Loans to and from companies with directors (other than shareholders)
- Loans to and from trusts with beneficiaries, including the application of Section 7C
- Loans to and from trusts with founders or trustees
- These discussions will focus on the implications where low or no interest is charged, as well as when the loans are written off or reduced
All taxpayers, practitioners, and accounting professionals seeking guidance or more information on these matters are welcome. By attending, you'll gain a comprehensive understanding of the tax implications of loan accounts, empowering you to make informed decisions in your professional practice.
