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Tax issues relating to debts paper

Published on 05 May 06 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

This practical paper addresses some of the more topical tax issues, developments and ATO opinions relating to debts. It will focus on issue identification and how to deal with those issues most commonly faced by advisors including:

  • debt forgiveness - income issues
  • assignments / debt parking
  • interest deductibility (TR2005/12 - trustees and deductibility of borrowed money)
  • managing debit loans
  • accounting issues - unpaid present entitlements etc.
  • interposed entities
  • debt and equity - when it matters.

Author profile:

Author Photo - Paul Tanti CTA
Paul Tanti CTA
Paul Tanti is a Partner in the Thomson Geer Lawyers tax team and has a wide range of experience in providing taxation and commercial advice to a variety of clients. Paul also advises a number of legal and accounting firms on all areas of federal and state taxation law and related commercial matters. Current at 10 February 2016 Click here to expand/collapse more articles by Paul TANTI.
 

This was presented at 40th South Australian State Convention: Let's Celebrate.

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