Director loan rules

If i want to take a directors loan (for personal use, mortgage offset etc) from my company, i have a few questions about how they work

  1. if it is repaid within the financial year (so as not to be deemed a div 7a dividend), does a formal written contract need to be made? or can money just be transferred back and forth between bank accounts? this would just be a one off, i do not plan to reborrow it in the next financial year so will not violate 109r.
  2. if the company tax returns are done by a tax agent and are usually lodged in may of the following financial year, can the loan be continued without a complying loan agreement up until that date? which is almost 11 additional months after the end of the relevant financial year.
  3. my understanding is if its repaid before the lodgment day, then it can be interest free. would this instead attract some kind of fringe benefits tax?

EDIT: if these questions are too specific (my bad), i guess as a more generic question, can fbt apply to an interest free directors loan repaid within the financial year?

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u/Hamburgerfatso — 1 day ago
▲ 1 r/ponds

How can i find a leak

I recently moved into a place with a pond and noticed it had a leak issue with the water level dropping too quickly. I narrowed it down to somewhere on the bottom surface of this waterfall basin (did a test with filling it up with a bit of water and seeing if it drained quicker than expected), but i emptied it and did a visual inspection and couldnt see anything. Any ideas on how to locate the crack exactly?

u/Hamburgerfatso — 18 days ago

Possum in roof

Ive had a possum in my roof and i was able to find the hole it used for entry. I constructed a barrier and tried to work out when it left to block it up. It took a couple times of installing it only to realise it was still inside when it walked around, but i think ive evicted it now and havent heard any sounds since. Im still afraid that ive locked it in though - if i have, would it go apeshit and let me know loudly, or just quietly die and start stinking (worst case scenario)?

Edit: im not asking about strategies to block it out. Im asking about once i think ive gotten it out, how can i verify, or how will it behave if its trapped. Also it was in an inaccessible cavity between floors.

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u/Hamburgerfatso — 1 month ago

P70 ultra mop washing too wet

I've had this only a few days and I think my base station has an issue when washing the mop pads that causes it to use wayyyy too much water. Every time it washes the mop pads, before starting a mop session and when washing the pads during mid session as well, water leaks out of the base onto the floor. It also causes the pads to be sopping wet, regardless of the mop wetness level i set and makes it leave tons of water all over the floor when mopping as well.

I've set the mop wetness to just level 3 out of 32, and the dock's mop washing water level setting to standard.

Anyone else experienced this or know how to fix? is it just faulty?

https://preview.redd.it/0p1s2qbb168h1.png?width=1542&format=png&auto=webp&s=5816a891eda0a65b22102add5313dfec7298d2e6

https://preview.redd.it/cyww89xb168h1.png?width=1542&format=png&auto=webp&s=8d8eb1fd7c5005de7bec5b28cfbe0ced2dc36ab9

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u/Hamburgerfatso — 2 months ago

What should i pick? mova v50 ultra vs ecovacs t90 pro omni

Based on a relative price of 1100 aud for the mova and 1600 aud for the ecovacs (dont bother converting to usd, australia is expensive lol), which would you pick?

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u/Hamburgerfatso — 2 months ago