Published on 29 Apr 04
by VICTORIAN DIVISION, THE TAX INSTITUTE
This seminar paper considers the following:
- whether a dormant loan account is a problem
- the risks of assigning and offsetting loan accounts
- how the mere writing off of a loan account could be a deemed dividend
- whether a beneficiary can forgive a trust loan account in the beneficiary's Will
- whether the release of an unpaid trust entitlement is caught by the debt forgiveness rules
- the tax risks for a trust creditor if a debt goes bad.
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