Statute
Section 109M — Income Tax Assessment Act 1936: Loans made in the ordinary course of business on arm’s length terms not treated as dividends
Text of the provision Official document
A private company is not taken under section 109D to pay a dividend because of a loan made: (a) in the ordinary course of the private company’s business; and (b) on the usual terms on which the private company makes similar loans to parties at arm’s length.
Official source: Federal Register of Legislation
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