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[Music] hello my name is Professor Brett Davies Im a barrister and solicitor at legal Consolidated congratulations you are on your way of building your loan agreement well whats whats a loan agreement well someone owes you some money and you should properly document it why would I want to document the loan agreements between a friend or or someone between a related party well its say that loan agreement is between you and a company so you are going to lend some money to your company such as a pro propri limited company that could also build and incorporate on our law firms website the Australian taxation office our friends at the atto have said that if you dont have a properly drafted loan agreement or you cant provide evidence that youve lent money to the company then the Out friends at the ATO will declare that you didnt lend the money to the at you put the money into the company as equity which means you cant get it back out very easily so if you are going to lend money to
