News

AAAI National Angel Conference - best yet ..... more news soon. Members will be able to download presentations and access conference photos from the members only section.

Commercialisation Australia Board Members Announced ....

ATO Draft Ruling Interests Angels ...

December 16^th 2009, ATO released Draft Ruling TD 2009/D8 relating to the Division 7A implications of unpaid present entitlements (“UPE”) owing to incorporated beneficiaries. An UPE may exist where a trust has made a distribution of income or capital to a beneficiary which remains unpaid. This circumstance is very common in private business structures, where the use of company beneficiaries is commonplace and may have direct impact on unit trust investment structures used by Angels.

The concern for private company groups is that the ATO has indicated that unpaid trust distributions will, in most circumstances, be regarded as a loan. These loans would be required to incur interest at the statutory rate and be progressively paid out in accordance with the terms of Division 7A loans. This very significant change in the way that such structures operate is contrary to previous practice and, depending on the terms of the trust deed, this change may be applied retrospectively.

The AAAI will work with its associates in the accounting fraternity to contribute to a response to this Draft Ruling. Member contributions on this issue are welcome and, for inclusion in our response, should be sent to editor@aaai.net.au by 4pm February 5^th 2010.

AAAI Members recognised internationally ...

John Mactaggart (Brisbane Angels & AAAI Chairman) and Jordan Green (Melbourne Angels & AAAI Deputy Chairman) have been invited to be speakers at the inaugural Asian Business Angel Forum (ABAF) in Singapore this March. John will deliver a keynote address and Jordan will feature on a panel alongside our good friend Andy Hamilton from the AANZ. The panel will explore Angel investment opportunities around the Pacific Rim - from Silicon Valley to Singapore and on to Australia & New Zealand.

Australian Angels are encouraged to consider supporting their colleagues and attending this event organised by the Business Angel Network of South East Asia (BANSEA). BANSEA together with NUS Enterprise have organised an Innovation Festival in the days prior to the ABAF.

UPDATE: Due to a broken leg Jordan will not attend ABAF. Melbourne Angels & AAAI member Steve Sacks has been selected by the ABAF Committee to substitute for Jordan.

More information available from the event listing below.

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