Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1936 - SECT 109M

Loans made in the ordinary course of business on arm's length terms not treated as dividends

                   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.



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