Examples of Pot in a sentence
If Kettle Pty Ltd and the Pot Trust have signed a loan agreement by Kettle’s “lodgment day” for the 2013 income year (i.e., the earlier of the due date or the actual date of lodgment of the 2013 return), the deemed loan will become subject to the agreement.
Kettle Pty Ltd is deemed to have made a loan of $100,000 to the Pot Trust on 15 May 2013.
The Pot Trust must make yearly repayments of the deemed loan, the first of which will be payable on 30 June 2014.
Pot smokers felt they knew exactly what Xxxxxxx was driving at (Xxxxxx 2001; quoted in Xxxxxx 2006, 94).
If no loan agreement is in place by Kettle’s “lodgment day” for the 2013 income year, the amount of $100,000 will be treated as a deemed dividend to the Pot Trust on 30 June 2013, subject to the amount of Xxxxxx’s distributable surplus.