Div7a Ato

Private company benefits – Division 7A
dividends
https://www.ato.gov.au/Business/Private-company-benefits---Division-7A-
dividends/
Last modified: 12 Aug 2020
QC 17861
A payment or other benefit provided by a private company to a shareholder or their
associate can be treated as a dividend for income tax purposes under Division 7A
even if the participants treat it as some other form of transaction such as a loan,
advance, gift or writing off a debt.
Division 7A can also apply when a private company provides a payment or benefit
to a shareholder or associate through another entity, or if a trust has allocated
income to a private company but has not actually paid it, and the trust has provided
a payment or benefit to the company's shareholder or their associate.
Division 7A is part of the Income Tax Assessment Act 1936 and is intended to
prevent profits or assets being provided to shareholders or their associates tax free.
A Division 7A deemed dividend is generally unfranked. Given this, the most effective
way to provide a payment or other benefit to a shareholder or their associate is to
pay it as a normal dividend (with a franking credit if available) and for the
shareholder to include it in their assessable income.
Division 7A doesn't apply to amounts that are assessable to the shareholder or their
associate under other parts of the income tax law, such as normal dividends or
director's fees.
A payment or benefit that is potentially subject to Division 7A isn't treated as a

dividend if it's repaid or converted into a Division 7A complying loan by the
company's lodgment day for the income year in which the payment or benefit
occurs.
Find out about
Entities and taxpayers affected

Payments and other benefits affected
Tax treatment of Division 7A dividends
Managing Division 7A risks, and corrective action
1 of 18
Related tax issues
Division 7A calculator and decision tool
Entities and taxpayers affected

dividends/Entities-and-taxpayers-affected/
Last modified: 31 Jan 2019
QC 45067
Entities potentially affected by Division 7A include:
Private companies
Shareholders and their associates
Trusts
Interposed entities
Private companies
Division 7A applies to payments and other benefits by private companies including:
non-resident private companies – the payment or other benefit doesn't have to

be provided by a private company that is a resident or has any connection with
Australia (other than by reason of providing the payment or other benefit to an
Australian resident)
closely held corporate limited partnerships (that is, with fewer than 50
members or where another entity has, directly or indirectly and for its own
benefit, an entitlement to a 75% or more of the partnership's income or capital)
– payments or benefits provided to partners or their associates (see Division
7A - closely held corporate limited partnerships).
Shareholders and their associates

Division 7A applies to payments or other benefits provided by a private company to
shareholders or associates of the shareholders.
Payments or loans to shareholders or their associates that are companies are not
treated as Division 7A dividends except where the company shareholder or
associate is trustee of a trust.
Even after an entity ceases to be a shareholder or their associate, payments or

other benefits subsequently provided to them may still be treated as a dividend if
the benefit was provided because the entity had been a shareholder or their
associate.
For the purpose of Division 7A, equity holders and non-share equity interests are
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treated in the same way as shareholders and shares.
Associate
The definition of an associate is very broad and depends on what type of entity the
shareholder is.
For an individual shareholder, an associate includes:
a relative of the individual

a partner of the individual or a partnership in which the individual is a partner
the spouse or child of an individual partner
a trustee of a trust under which the individual or an associate benefits
a company under the control of the individual or associate.
For a company shareholder, an associate includes:
a partner of the company or a partnership in which the company is a partner

a trustee of a trust under which the company or associate benefits
another individual or associate who controls the company
another company that is under the control of the company or the company's
associate.
For a trustee shareholder, an associate includes an entity or associate of the entity
that benefits or is capable of benefiting under the trust.
For a partnership shareholder, an associate includes each partner of the

partnership or their associates.
Trusts
Division 7A applies to certain payments or other benefits provided by a trust to
shareholders or their associates where the private company has an unpaid present
entitlement (UPE) to the profits of the trust.
See also:
Trust payments and other benefits
Interposed entities
An amount may be treated as a Division 7A dividend even if it's paid or lent by the
private company to the shareholder or their associate through one or more other
entities.
Payments or loans may be treated as Division 7A dividends where they are made
on the understanding that the interposed entity, or a further interposed entity, will
pay or lend an amount to the shareholder or their associate.
Next:
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dividends/Payments-and-other-benefits-affected/
QC 45068
Division 7A may apply to any payments or other benefits provided by private
companies directly or indirectly to their shareholders or their associates, including
the following transactions and events:
private use of company assets

transfer of company assets
gifts
loans and other forms of credit
writing off (forgiving) a debt
guarantees
payments or the loans by a trust where a company has unpaid present
entitlements
payments and loans through interposed entities.
Payments or other benefits deemed as dividends under Division 7A can be treated
as assessable income of the shareholder or their associate in the form of unfranked
dividends.
If the payment or other benefit is provided to a shareholder or their associate in their

capacity as an employee or an associate or an employee of the private company,
Fringe Benefits Tax (FBT) can apply to the payment or other benefit (see Related
tax issues).
A payment or loan that's potentially subject to Division 7A isn't treated as a dividend

where:
it's fully repaid or converted to a Division 7A complying loan by the company's

lodgment day for the income year in which the payment or loan occurs
it's already treated as assessable income (or excluded from being assessable
income) under another part of the income tax law.
You may be able to use the Division 7A calculator and decision tool to:
determine whether a payment or other benefit provided by a private company

to a shareholder or their associate will give rise to a dividend
calculate the minimum yearly repayment required if there is a complying loan.
Find out about:
Loans and other forms of credit

Private use of assets
Transactions through interposed entities
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Writing off (forgiving) a debt
Payments and other benefits not affected
Legislative framework
The treatment of a payment or other benefit under Division 7A depends on whether
it's categorised by the legislation as either a:
payment (see section 109C) – note that the legislation treats as a payment the
transfer of a company asset to, or the private use of a company asset by, a
shareholder or their associate (whether or not this involves a formal
arrangement such as a lease or licence, or merely an informal right to use)
loan ( see section 109D), or
debt forgiveness (see section 109F).
See also:
Division 7A - Payments by private companies

Division 7A - loans by private companies
Division 7A - debt forgiveness by private companies
Loans and other forms of credit

dividends/Payments-and-other-benefits-affected/Loans-and-other-forms-of-
credit/
QC 45069
A loan from a private company to a shareholder or their associate may be treated as
a Division 7A dividend unless, by the lodgment day, the loan is:
a complying loan for Division 7A purposes, or

repaid.
A 'loan' for the purposes of Division 7A includes the provision of credit or any other
form of financial accommodation and any transaction that is in substance a loan of
money.
On this page:
Complying loan under Division 7A

Employee loans
Complying loan under Division 7A
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All of the following conditions must be satisfied for a loan to be a complying loan
and therefore excluded from being a Division 7A dividend:
A written loan agreement must be in place before the company's lodgment day
for the income year in which the loan amount was paid to the shareholder or
associate.
The loan interest rate for each year of the loan must at least equal the Division
7A – benchmark interest rate.
The term of the loan must not exceed
25 years if 100% of the loan is secured by a registered mortgage over
real property and, when the loan is made, the market value of the
property, less the amounts of any other liabilities secured over the
property in priority to the loan, is at least 110% of the amount of the loan
7 years for any other loan.
There is no prescribed format for a written loan agreement. However, as a

minimum, the agreement should:
identify the lender and borrower

set out the essential conditions of the loan (the amount of the loan, the date on
which it's drawn down, the requirement to make minimum yearly repayments,
the interest rate payable, and the term of the loan), and
be signed and dated by the lender.
Minimum yearly repayment
Where a loan agreement is made for the purposes of Division 7A, minimum yearly
repayments must be made in the subsequent income years. If not fully made in any
subsequent income year, the shortfall amount is treated as a Division 7A dividend in
that income year.
To be effective, minimum yearly repayments of loans must be made by 30 June of

the income year in which the repayment is due.
The minimum yearly repayment amount is calculated on the total loans made to a
shareholder or associate in the income year for the same term or period, called an
'amalgamated loan'.
The interest on the loan must be included in the lender's assessable income for the
year.
You may be able to use the Division 7A calculator and decision tool to calculate the
minimum yearly repayment required.
Repayments not taken into account

Some payments you make to a private company in relation to a loan are not taken
into account for the purpose of working out the minimum yearly repayment or how
much of the loan has been repaid.
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See also:
Loan repayments
Employee loans
A loan to a shareholder or their associate in their capacity as an employee or an
associate of an employee of the private company doesn't give rise to fringe benefits
tax irrespective of whether the loan is a complying loan or is treated as a Division
7A dividend.
See also:
Division 7A and fringe benefits tax

Next:

dividends/Payments-and-other-benefits-affected/Private-use-of-assets/
QC 45070
The use of a company asset by a shareholder or their associate, or the transfer of a
company asset to a shareholder or their associate, may be treated as a Division 7A
dividend.
Such arrangements are treated as payments for the purposes of Division 7A.
The first time the asset is provided by the company is considered the time the
payment is made. However, if the right to use continues into another income year,
the provision of the asset for use in the subsequent year is treated as being a
separate payment made at the start of that year.
See also:
Can the use of assets (other than a transfer of property) be treated as a

payment?
Next:
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dividends/Payments-and-other-benefits-affected/Writing-off-(forgiving)-a-debt/
QC 45057
Where a private company writes off (forgives) a debt owed by a shareholder or their
associate (the debtor) the debt amount may be treated as a Division 7A dividend.
For the purposes of Division 7A, a debt is forgiven when:
the debtor's obligation to pay is released, waived or otherwise extinguished,

except when the debt is discharged by payment in cash or a transfer of
property
recovery of the debt becomes statute-barred as a result of its age
the debtor is effectively released from their obligation to pay, notwithstanding
the existence of an agreement or arrangement that implies the debt remains in
force. For example, where the debtor's obligation to pay the debt doesn't cease
immediately but at some time in the future, the debt is treated as forgiven
immediately if the debtor and creditor are not acting at arm's length and they
agree either that the debtor will not have to pay any consideration for the
concessions granted by the creditor or will be required to pay merely a token
amount. The agreement or arrangement need not be legally enforceable
there is 'debt parking' – where the private company assigns its rights to receive
payment of a debt to a new creditor, who is either an associate of the debtor or
a party to an arrangement with the debtor in relation to the assignment, and a
reasonable person would conclude that the new creditor will not exercise the
assigned right
a reasonable person would conclude that the private company will not insist or
rely on the debt being paid.
Debt forgiveness is not treated as a dividend where:
it's made in favour of another company, unless the other company owed the
debt in its capacity as trustee
the debt is forgiven because the debtor becomes bankrupt or because of Part
X of the Bankruptcy Act 1966
the debt or part of a debt results from a loan that has been treated as a
Division 7A dividend in the current or previous income years
the Commissioner exercises discretion not to treat the debt forgiveness as a
dividend.
Debt forgiveness – employees

While payments to shareholders and their associates in their capacity as employees
or associates of employees of the private company are generally not treated as
Division 7A dividends, debts forgiven to such parties may be treated as Division 7A
dividends.
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FBT doesn't arise where debt forgiveness is treated as a Division 7A dividend.
See also:
Division 7A - Debt forgiveness by private companies

Next:

dividends/Payments-and-other-benefits-affected/Tax-treatment-of-Division-7A-
dividends/
QC 45060
Payments or benefits treated as dividends under Division 7A can be assessable
income of the shareholder or their associate in the form of unfranked dividends.
Division 7A dividends are generally not frankable even though they are taken to
have been paid out of the company's profits. This means that the company can't
attach a franking credit to the dividend, and the payment has no impact on the
company's franking account.
However:
a dividend that is taken to have been paid because of a family law obligation is
frankable
if the Division 7A dividend arises because of an honest mistake or inadvertent
omission, you can apply to allow it to be franked (see ATO relief).
If the dividend is franked, a dividend statement indicating the value of the dividend
and the amount of franking credit must be provided by the private company. A
payment or benefit treated as a Division 7A dividend is taken to have been paid as
a dividend at the end of the income year in which it was provided.
On this page:
Calculating the value of a transfer or use of an asset

Division 7A dividends limited to company's distributable surplus
Later dividends
Calculating the value of a transfer or use of an asset

The amount of such a payment is the amount that would have been paid for the
9 of 18
transfer or provision of the asset by parties dealing at arm's length, less any amount
actually paid. For information on how to calculate an arm's length value see Market
valuation for tax purposes.
Division 7A dividends limited to company's distributable

surplus
The total of all dividends a private company is taken to pay under Division 7A during
an income year is limited to its distributable surplus for that year.
Note that a company's profit or retained earnings and its distributable surplus will
not necessarily be the same.
For information on how to work out the distributable surplus see Division 7A -
distributable surplus.
Later dividends
A later dividend arises where a private company distributes a dividend to the
shareholder that it doesn't actually pay but is applied to repay some or all of a loan
that has been treated as a Division 7A dividend in a previous income year.
If unfranked, the amount of the later dividend set-off is not included in the
shareholder's assessable income.
If franked or partly franked, the later dividend is included in the shareholder's
assessable income to the extent that it is franked.
For example, a private company makes a loan of $100 to a shareholder in the
2006–07 income year that is taken under Division 7A to be a dividend paid on 30
June 2007. In the 2007–08 income year, the company distributes to the shareholder
an unfranked dividend of $100 (the later dividend) that it sets off against the
shareholder's $100 loan. The effect of the set off is that no amount of the later
dividend is taken to be a dividend. Accordingly, the later dividend is not included in
the shareholder's assessable income in the 2007–08 income year.

dividends/Payments-and-other-benefits-affected/Payments-and-other-benefits-
not-affected/
Last modified: 14 May 2015
QC 45059
The following payments and other benefits are not treated as Division 7A dividends:
loans and other payments repaid before company's lodgment day for the year
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in which the payment or loan occurred
amounts that are treated as assessable income or excluded from being
assessable income under another provision of the income tax law
payments that discharge an obligation of the private company to pay money
that are consistent with the two parties dealing at arm’s length
complying loans for the purpose of Division 7A
payments that are converted to complying loans for the purpose of Division 7A
before the private company's lodgment day
loans made by the private company in the ordinary course of its business on
the usual terms it makes similar loans to parties at arm's length
payments (but not loans or debts forgiven) to shareholders or their associates
in their capacity as an employee – Fringe benefits tax (FBT) may apply instead
of Division 7A (see Division 7A and fringe benefits tax)
loans solely for the purpose of enabling the shareholder or their associate to
acquire certain shares or rights in the company under an employee share
scheme
payments or loans to shareholders or their associates that are companies
except where the company shareholder or associate is trustee of a trust
certain retirement exemption payments
a distribution by a liquidator in the course of winding-up a company
minor use of a company asset – where the value of the use is under $300
otherwise deductible usage – that is, had the shareholder or their associate
paid for the use of the asset they could have claimed the cost as an income tax
deduction
the use of certain residences.
Next:

dividends/Payments-and-other-benefits-affected/Transactions-through-
interposed-entities/
Last modified: 14 May 2015
QC 45056
Division 7A may also apply where:
a private company pays or loans an amount to an interposed entity on the

understanding that the interposed entity or another interposed entity will pay or
loan an amount to a shareholder or their associate
a trust makes certain payments or loans to an interposed entity on the
understanding that the interposed entity or another interposed entity will pay or
11 of 18
loan an amount to a shareholder or their associate of a private company with
an unpaid present entitlement (UPE) to the profit of the trust. Where another
trust is interposed between the private company and the trust from which the
payment or loan is made, the company can be taken have a UPE from the net
income of the trust making the payment or loan if certain conditions are
satisfied.
See also:
Division 7A - payments and loans through interposed entities

Division 7A - payments and loans through interposed entities involving
guarantees
Division 7A - trust amounts treated as dividends - payments and loans through
interposed entities
Next:

dividends/Payments-and-other-benefits-affected/Trust-payments-and-other-
benefits/
QC 45071
Division 7A applies to certain benefits provided to shareholders or their associates
from trusts where a private company has an unpaid present entitlement (UPE) to
the profits of the trust.
For example, private business structures can involve a business being operated by
a trust associated with a private company and its shareholders. As a trust
beneficiary, the company is presently entitled to the profits made by the trust.
12 of 18
However, the profit is not actually paid to the company (thereby constituting a UPE),
but used for the benefit of a shareholder or associate. In this situation, the benefit
may be treated as a Division 7A dividend paid to the shareholder or associate.
For this purpose, the trust is treated as a notional company and the benefit as a
Division 7A dividend paid to the shareholder or their associate.
See also:
Division 7A - unpaid present entitlement

Next:
Related tax issues

dividends/Related-tax-issues/
QC 45062
If your transactions are subject to Division 7A, you may also need to consider:
Fringe benefits tax (FBT)

Dividend imputation and franking credits
Withholding tax
Family law settlements
Fringe benefits tax (FBT)

Division 7A does not apply to payments made to shareholders or their associates in
their capacity as an employee or as an associate of an employee of a private
company. However, such payments may be subject to FBT.
Division 7A does apply to loans and debt forgiveness provided to shareholders or
13 of 18
their associates even where such benefits are provided in their capacity as an
employee or as an associate of an employee. To avoid double taxation, such
benefits are not subject to FBT.
See also:
Fringe benefits tax

Division 7A and fringe benefits tax
Dividend imputation and franking credits

Payments and other benefits taken to be Division 7A dividends are generally
unfrankable distributions unless they are provided under a family law obligation.
The Commissioner has a general discretion to allow a Division 7A dividend to be

frankable if it arises because of an honest mistake or inadvertent omission (see
ATO relief).
See also:
Division 7A - franking implications
Withholding tax
Payments and other benefits treated as Division 7A dividends are generally not
subject to dividend withholding tax or PAYG withholding.
Family law settlements

Payments and other benefits provided by a private company to shareholders or their
associates as a result of divorce or other relationship breakdowns may be treated
as Division 7A dividends and are assessable income of the recipient. However,
such payments or other benefits are treated as frankable dividends if provided
under a family law obligation, such as a court order under the Family Law Act 1975,
a maintenance agreement approved by a court under that Act or court orders
relating to a de facto marriage breakdown.
See also:
Division 7A - marriage or relationship breakdown - dividends and deemed

dividends
Taxation Ruling 2014/5 - Income tax: matrimonial property proceedings and
payments of money or transfers of property by a private company to a
shareholder (or their associate)
Need help with Division 7A? Watch our videos

14 of 18
dividends/Videos/
Last modified: 14 Feb 2017
QC 49667
Our video series will help you better understand your clients’ Division 7A obligations
and get things right when working with Division 7A.
Video – Managing common mistakes
Media: video title

http://tv.ato.gov.au/ato-tv/media?v=bd1bdiubximf5f (Duration: 04:31)
Video – What is a payment?
Media: video title

http://tv.ato.gov.au/ato-tv/media?v=bd1bdiubximf5g (Duration: 05:14)
Video – Ensure loans comply with Division 7A
Media: video title

http://tv.ato.gov.au/ato-tv/media?v=bd1bdiubxseuzw (Duration: 05:49)
Video – The commissioner's discretion
Media: video title

http://tv.ato.gov.au/ato-tv/media?v=bd1bdiuboy75es (Duration: 07:31)
Managing Division 7A risks, and corrective

action
dividends/Managing-Division-7A-risks,-and-corrective-action/
QC 45061
15 of 18
The operation of Division 7A as an integrity measure means that the most effective
way to distribute retained profits to shareholders may be to pay the amount in the
form of a dividend (with a franking credit if available) and for the shareholder to
report it as such (as assessable income with or without a franking credit).
Apart from anything else, a Division 7A dividend generally isn't frankable even
though it's taken to be paid out of the company's profits. This means that the whole
amount of the dividend is taxed in the hands of the shareholder, without any
accompanying tax credit (as would apply with a franked dividend).
On this page:
Avoiding issues in the first place

Repay or convert dividend amount by lodgment day
ATO relief
Avoiding issues in the first place

Division 7A dividends may inadvertently arise as a consequence of a failure to keep
private expenses separate from company expenses.
To avoid this:
don't pay private expenses from a company account

keep proper records for your company that record and explain all transactions,
including payments to and receipts from associated trusts and shareholders
and their associates
if you lend money to shareholders or their associates make sure it's on the
basis of a written agreement with terms that ensure it's treated as a complying
loan – so the loan amount isn't treated as a Division 7A dividend.
Repay or convert dividend amount by lodgment day

A payment or other benefit that's potentially subject to Division 7A isn't treated as a
Division 7A dividend if it's repaid or converted to a complying loan by the company's
lodgment day for the income year in which the payment occurs. A company's
lodgment day is the actual day on which the company lodges its income tax return
or the due date for lodgment, whichever is earlier.
This means that you can take corrective action after the income year is ended but
before you need to finalise your tax affairs and lodge your return. Note, however,
that the underlying transaction must occur by the lodgment day.
ATO relief
The law allows the Commissioner to disregard a deemed dividend outcome or allow
the dividend to be franked in certain circumstances.
This means that if you've made a mistake or circumstances have changed beyond
your control, you can apply to us for relief from the consequences of having Division
16 of 18
7A apply to a payment or loan.
See also:
Division 7A - exercise of Commissioner's discretion under section 109RB
Contact us about Division 7A

dividends/Contact-us-about-Division-7A/
Last modified: 21 Oct 2020
QC 51187
If you need help with Division 7A and how it affects you:
speak to your tax adviser

phone 13 28 66
phone 13 72 86 (tax practitioners only)
write to us at
PO Box 3000
Penrith NSW 2740.
If you do not speak English well and want to talk to a tax officer, phone the
Translating and Interpreting Service on 13 14 50 for help with your call.
If you have a hearing or speech impairment and have access to appropriate TTY or
modem equipment, phone 13 36 77. If you do not have access to TTY or modem
equipment, phone the Speech to Speech Relay Service on 1300 555 727.
Our commitment to you

We are committed to providing you with accurate, consistent and clear information to help you understand
your rights and entitlements and meet your obligations.
If you follow our information and it turns out to be incorrect, or it is misleading and you make a mistake as
a result, we will take that into account when determining what action, if any, we should take.
Some of the information on this website applies to a specific financial year. This is clearly marked. Make
sure you have the information for the right year before making decisions based on that information.
If you feel that our information does not fully cover your circumstances, or you are unsure how it applies to
you, contact us or seek professional advice.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way
that suggests the ATO or the Commonwealth endorses you or any of your services or products).
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Private company benefits – Division 7A

A payment or benefit that is potentially subject to Division 7A isn't treated as a

Find out about

Entities and taxpayers affected

Entities and taxpayers affected

non-resident private companies – the payment or other benefit doesn't have to

Shareholders and their associates

Even after an entity ceases to be a shareholder or their associate, payments or

For an individual shareholder, an associate includes:

a relative of the individual

a partner of the company or a partnership in which the company is a partner

For a partnership shareholder, an associate includes each partner of the

Trust payments and other benefits

Payments and other benefits affected

private use of company assets

If the payment or other benefit is provided to a shareholder or their associate in their

A payment or loan that's potentially subject to Division 7A isn't treated as a dividend

it's fully repaid or converted to a Division 7A complying loan by the company's

determine whether a payment or other benefit provided by a private company

Loans and other forms of credit

Division 7A - Payments by private companies

Loans and other forms of credit

a complying loan for Division 7A purposes, or

Complying loan under Division 7A

Complying loan under Division 7A

There is no prescribed format for a written loan agreement. However, as a

identify the lender and borrower

To be effective, minimum yearly repayments of loans must be made by 30 June of

Repayments not taken into account

Division 7A and fringe benefits tax

Private use of assets

Private use of assets

Can the use of assets (other than a transfer of property) be treated as a

Trust payments and other benefits

For the purposes of Division 7A, a debt is forgiven when:

the debtor's obligation to pay is released, waived or otherwise extinguished,

Debt forgiveness – employees

Division 7A - Debt forgiveness by private companies

Payments and other benefits not affected

Tax treatment of Division 7A dividends

Calculating the value of a transfer or use of an asset

Calculating the value of a transfer or use of an asset

Division 7A dividends limited to company's distributable

Payments and other benefits not affected

Tax treatment of Division 7A dividends

Transactions through interposed entities

a private company pays or loans an amount to an interposed entity on the

Division 7A - payments and loans through interposed entities

Writing off (forgiving) a debt

Trust payments and other benefits

Division 7A - unpaid present entitlement

Transactions through interposed entities

Related tax issues

Fringe benefits tax (FBT)

Fringe benefits tax (FBT)

Division 7A does apply to loans and debt forgiveness provided to shareholders or

Fringe benefits tax

Dividend imputation and franking credits

The Commissioner has a general discretion to allow a Division 7A dividend to be

Division 7A - franking implications

Family law settlements

Division 7A - marriage or relationship breakdown - dividends and deemed