Become a Member
Membership
Education
Events
Resources
Tax Knowledge Exchange
About us
Contact us
  Miscellaneous 2008

Debt forgiveness

Source: Victoria

Published Date: 27 Feb 2008

 

Sorry, this is subscriber only content.

If you're not yet a subscriber, to gain access to this material and much more - Subscribe Now.

Already a Subscriber? Login now

Subscribe Now

Already a Subscriber? Login now

This paper addresses the following tax issues:

  • what debts are caught by the commercial debt forgiveness rules?
  • what happens if an unpaid trust entitlement is forgiven?
  • what needs to happen for a debt to be "forgiven"?
  • will a debt be forgiven if it is merely written off in the accounts?
  • are the commercial debt forgiveness rules really a problem?
  • the interaction of Division 7A and debt forgiveness
  • what happens if a company forgives a loan previously caught by Division 7A?
  • the dangers in forgiving debts owed to trusts and companies which have made family trust and interposed entity elections
  • when is a debt forgiveness assessable as income?
  • can a capital loss be claimed in respect of a forgiven loan?
  • what are the dangers of assigning loan accounts?
Author(s)

Individual Session

Debt forgiveness

Author(s): Noel Beharis CTA
Materials from this session:

Download

Details

  • Published By: Noel Beharis CTA
  • Published On:27 Feb 2008
  • Took place at:Leonda by the Yarra, Hawthorn

The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

The Tax Institute
(ABN 45 008 392 372 (PRV14016))

("TTI")

The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009. 

Copyright Statement

All materials provided on this site are protected by copyright and are owned by or licensed to TTI.

Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.

Tags

Miscellaneous 2008

Share this page