Section 109R

  • Question of the month: Company loan to pay down the mortgage

    A friend’s accountant suggested that they could reduce interest on non-deductible debt by using company cash to offset their personal mortgage, then transferring the cash back by 30 June. Is this an acceptable strategy? This might initially sound like a brilliant strategy but what is really happening is that you are using company funds to derive a personal benefit. Doing…

    Business Advisory