Thank you for your kind words:
Great thank you again for this!!!
Your assistance has made my business set up so much easier and put my mind at ease.
Thank you again!!!!
Janett Chow -
Financial Agreements
7A Company Loans: we provide a Division 7A company loan agreement for the purposes of complying with Section 109N of the Income Tax Assessment Act 1936 (Cth). Section 109N sets out strict provisions relating to company loans to a borrower who is a natural person and that person is a director, shareholder or associate of a director or shareholder of the company.
Please Note: Our LAWLIVE® document is drafted to comply with Section 109N and if you amend it in any way the loan may be deemed to be a dividend.
Other Loans: it is important to have formal evidence of any loan and the terms on which the money is lent. By having a written Agreement it is easier to enforce the terms on which the loan was made and it is evidence that it was a loan and not a gift. If the loan is to carry interest then the interest rate should be inserted. If the loan is to be repaid on a fixed date or on the occurrence of an event then that date or event should also be included.
Guarantees: where a loan has previously been made without a 3rd party guarantee, a subsequent request for a guarantee may be made. Our templates may be used in this situation and may also be used where the guarantee is being provided contemporaneously with the loan.
