This interpretation statement considers common tax implications relating to benefits provided by companies to shareholders using overdrawn shareholder loan accounts. There are several considerations that may be relevant, including: 

• The application of the dividend or the FBT rules where no or low interest is charged on the overdrawn balance. 
• Where interest is charged, the relevant parties need to consider how the interest should be accounted for in their respective income tax returns.
• Whether shareholders have any withholding or information reporting obligations relating to the interest they pay (if any). 
• Implications where a shareholder is relieved from repaying the overdrawn balance.

According to CA ANZ, the statement and fact sheet will be very useful resources once finalised. CA ANZ recommends some aspects of the item be reviewed and clarified with additional references.