Tribunal Decisions uphold ATO stance on GST and UPEs

The AAT rejected a taxpayer’s late input tax credit claim, while the Full Federal Court upheld a decision that unpaid present entitlements (UPEs) are not considered loans for Division 7A purposes.
The AAT rejected a taxpayer’s late input tax credit claim, while the Full Federal Court upheld a decision that unpaid present entitlements (UPEs) are not considered loans for Division 7A purposes.