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Debt restructuring: from initial sniffles to the last gasp paper

Published on 13 Aug 09

In these difficult times, debt is a critical issue for taxpayers large and small. This paper takes a practical approach to examining the tax consequences of dealing with debt from the onset of financial difficulties through to the restructuring of financial arrangements and ultimately, if necessary, to insolvency. The issues for both debtors and creditors are considered. Specific topics include:

  • changes to lending arrangements
  • refinancing issues (debt for debt/equity for debt)
  • waiver and debt forgiveness
  • assignment of a loan Insolvency and administration.

Author profiles

Leonard Hertzman CTA
Photo of author, Len HERTZMAN Len Hertzman, CTAis an Assistant Commissioner in the ATO’s Tax Counsel Network and is based in Perth. He was previously a tax partner at Ashurst. Len is also a National and State Councillor of The Tax Institute and former chair of the National Tax Convention and National Resources Tax Conference program committees. - Current at 05 April 2019
Click here to expand/collapse more articles by Len HERTZMAN.
David is a graduate with Blake Dawson.
Current at 3 June 2009


This was presented at 2009 WA State Convention: The Road to Success .

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