Date posted: 07/04/2020 1 min read

Submission to request exercise of ATO Division 7A discretion under section 109Q

The Joint bodies request the Commissioner exercise his Division 7A discretion under section 109Q and defer non essential information requests

Chartered Accountants Australia and New Zealand, Corporate Tax Association, CPA Australia, Institute of Public Accountants, Law Council of Australia and The Tax Institute (the Joint Bodies) wrote to the Commissioner to request:

  • All non-critical (not related to fraud or evasion) ATO requests for information be deferred for 90 days
  • the Commissioner exercise his discretion under section 109Q to ensure that where the minimum yearly repayment is not met (ie subsection 109Q(1)(a) will be met if no amount is paid), an amalgamated loan will not be treated as a dividend (ie subsection 109Q(1)(b) applied).