Service
Division 7A & Capital Gains Tax
Keep loans and payments between your company and its owners in order, and know the capital gains tax position before you sell or restructure.
Our work
What we handle
- Division 7A reviews We look for loans, payments and debts between your private company and its shareholders or their associates.
- Loans kept in order Where a loan needs paperwork or repayments, we set them up and track them with you.
- Capital gains tax worked out When the business sells or transfers an asset, we work out the capital gain and the tax on it.
- Concessions checked We check which small business concessions might apply and what you would need to show to use them.
- Planning before you sell Thinking about selling the business or a major asset? We work through the tax before you agree terms. See the Tax Planning for Businesses page
Why OziDesktop
Why work with us
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We look for these issues while there is still time to deal with them.
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We explain where you stand in everyday terms, and the decisions stay yours.
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The same team keeps the figures in your accounts and tax returns consistent.
How it works
Talk it through
We learn how the company and its owners deal with each other, or what you are planning to sell.
Review the records
We go through the loan accounts, agreements and asset records involved.
Report and next steps
We explain what we found, agree what needs doing and take care of it with you.
What we need from you
- Access to your accounting software, including the shareholder or director loan accounts
- Recent financial statements and tax returns for the company
- Any existing loan agreements between the company and its owners
- For an asset sale, the purchase records and the proposed sale details
FAQs
Common questions
What is Division 7A?
It is the part of tax law about money a private company lends or pays to its shareholders and their associates. We check whether it affects your company and what needs doing.
Our company has paid some of our personal expenses. Is that a problem?
It can be, so it is worth checking. We review the loan account and explain what needs doing to keep it in order.
Can you work out the capital gains tax if we sell the business?
Yes. We work out the gain, check which concessions might apply and explain the tax before you agree the sale.
Need something outside this scope?
Every business is different. If you need additional accounting, bookkeeping, advisory or specialist work, we'll explain what's required and agree the scope with you before proceeding.
Talk to an accountant about your business
- Fixed fees, agreed upfront
- We contact your old accountant
- Free discovery call