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Frequently asked questions, answered.
- Who can the borrower be?
The borrower can be a shareholder or former shareholder of the lending company, or an associate of the shareholder or former shareholder of the lending company.
- How is associate of shareholder defined?
The ATO says that for an individual shareholder, an associate includes:
- a relative of the individual
- a partner of the individual or a partnership in which the individual is a partner
- if a partner of the individual is an individual, the spouse or child of that partner
- a trustee of a trust estate under which the individual or an associate benefits, or
- a company under the control of the individual or associate.
- If the shareholder is a company, how is associate of shareholder defined?
The ATO says that for a company shareholder, an associate includes:
- a partner of the company or a partnership in which the company is a partner
- a trustee of a trust estate under which the company or associate benefits
- an individual or associate who controls the company, or
- another company which is under the control of the company or the company's associate.
- Does this agreement cover more than one loan?
Yes, our loan agreement covers multiple loans that a lender may make to a borrower.
- When must the loan agreement be in place?
The Loan Agreement must be in place before the earlier of the company's annual lodgement date or the date that the company actually lodges their annual return.
- Do I choose the State/Territory that the company is registered in?
You do not need to choose the State/Territory that the lending company registered in. You need to select the State/Territory where the loan will be made (and the laws of the State/Territory will govern the agreement).
- How is the interest rate set?
Our agreement uses the benchmark interest rate for each Financial Year as defined or calculated in accordance with section 109N(2) of the Income Tax Assessment Act 1936.
- Who drafted the Compleo Loan Agreement?
The Compleo Div 7a Loan Agreement package has been written by Norman Waterhouse Lawyers, a leading law firm. The agreement is written in plain English, is current with today's legislation and is periodically reviewed to to keep up to date with changes to the law.
- Can I make changes if I have made a mistake?
Yes, but only up until the agreement is signed and executed. After this we can't allow any further edits to your document.
- What format are the documents?
All the documents are in PDF format.
- Do you have a sample of the loan agreement I can view?
Yes but you'll need to sign up (it's free) first. Once signed in, you'll be able to see the sample loan agreement from our main Div 7a page.
- What payment methods do you accept?
At present only Visa or Mastercard. Shortly you can apply for an account and pay by monthly invoice.
Learn more about...
 What it costs  What you get  What you'll need
or if you're ready to begin!
 Create Loan Agreement
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What does it cost?
$60
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What information do I need?
Details of the loan (date & jurisdiction), details of the lender and of the borrower. |
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What will I receive?
Loan Agreement, Minutes of Meeting |
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Ready to get started?
Click below to begin the process! |
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Who's behind our documents?
Leading law firm Norman Waterhouse Lawyers have prepared all of our master documentation.
Compleo is not a law firm. We cannot give legal advice or provide legal services. Any information provided in relation to our products is information of a general nature only. Using the products may affect your legal rights and professional advice must be obtained.
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