Published on 28 Mar 96
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
This presentation discusses the implications if the debt forgiveness legislation that was contained in the TLAB (No 5) 1995, is reintroduced. Issues highlight in the article include: forgiveness of a commercial debt; calculation of the gross forgiven amount; calculation and application of the net forgiven amount; debt/equity swaps; debt parking; intragroup debt; partnerships; liquidations; debt waiver; and natural love and affection.
- Current at
19 November 2004