Worried about Div 7A danger from COVID-relaxed loan repayments?
The ATO has clarified its position regarding loans and states that “allowing more time to replay a debt due to COVID-19 will not result in the debt being treated as forgiven.”
Tag: Taxation
Indexation of tax instalments suspended for 2020-21
Due to the COVID-19 health crisis, more support for taxpayers comes in the form of a suspension of the indexation of tax instalments for the 2020-21 income year.