Most Business Owners Have No Idea This Rule Exists

Need reliable cloud accounting software? Sign up for Xero with a MASSIVE discount: https://referrals.xero.com/division7a Looking for stress-free, fixed-fee accounting services? Book a consultation with us: https://www.boxas.com.au/book-a-consultation-yto/?video=H0t_sPvNBR8 — The ATO introduced Division 7A rules specifically to stop private companies from distributing tax-free profits to shareholders and directors as loans. And if you get caught by these rules, you'll end up paying tax twice on the same money. In this video, I cover: - Exactly what Division 7A is - When Division 7A applies to your business - And how to avoid getting double-taxed — Thank you for watching this video. I post videos on this channel to provide the latest and most frequently asked business questions. Please take a second to say hi in the comments below. Also, if you enjoy the video and find it valuable, subscribe to the channel, like and share it with anyone who you think might find my channel useful! — ► Subscribe to my channel here: https://www.youtube.com/c/DavieMach — Davie has over 15 years experience in advising businesses in management accounting and taxation issues. He heads up a passionate team at Box Advisory Group who are dedicated to offering proactive and outstanding service to our clients. Davie’s extensive experience in providing tax and consulting advice and astute business knowledge has paved the way for success for many businesses. He is a member of the Chartered Accountants Australian and New Zealand, a member of the Australian Tax Practitioners Board and holds a Bachelor of Commerce degree from the University of New South Wales. — Follow Me: LinkedIn: https://www.linkedin.com/in/davie-mach/ Instagram: https://www.instagram.com/boxas_syd/ Facebook: https://www.facebook.com/boxadvisory/ Website: https://boxas.com.au/ TikTok: https://www.tiktok.com/@boxadvisory — Disclaimer: This video is for informational purposes only and should not be considered financial or legal advice. This video does not take into consideration your personal circumstances. Consult with a qualified financial planner, tax advisor or legal consultant before making any decisions regarding investments.