Div 7A loan Agreement template required for Private company.

 Author: Bruce4Tax(Taxicorn)Taxicorn

19 Feb 2021

Hi, I need help on DIV 7A loan agreement document structure for a private company having debit loan balance.

Please advise or share any template of the same.

1. Div 7A loan agreement is a legal document

2. If you draft from a template, and you are not a lawyer, you will be in breach of your state's legal practices act

3. If the template was created by a law firm, and they find out that you used it, then they will sue you under copyright.

4. If you are a tax agent, and get sued over copyright or doing legal work, then TPB may decide that you are not fit and proper and not renew your regn.

Is it really worth the risk, just to save $ 55?

If company constitution already includes a default loan agreement that complies with Div 7A, then loan may already be documented.