Guidance on Forgiveness of Div7A Loans Owed by Deceased Estates

Submitted by

mark.caldwell85

Topic

Tell it to the Tax Office: Administrative fixes

Date

07/05/2016

Issue

Suggest the ATO provide further guidance on its current position regarding forgiveness of Div 7A loans owed by deceased estates and the consequences of not meeting minimum repayments, especially where the deceased is a former shareholder and the estate does not have shares in the company

Board response

The Board understands that the ATO are currently developing a fact sheet (or equivalent) to provide the requested guidance via their website. Please stay tuned to Sounding Board for further developments.