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Tax issues in restructures, acquisitions and dealing with distressed debt presentation

Published on 19 Feb 14 by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE

This presentation covers:

  • distressed debt – common transactions
  • characterisation issues
  • key income tax issues for the debtor:
    • commercial debt forgiveness rules
    • limited recourse debt rules
  • key income tax issues for the creditor:
    • loss on extinguishment of debt (bad debt, general deduction,capital loss)
  • withholding tax
  • TOFA
  • key transactions:
    • renegotiating debt repayments
    • assignment of debt
    • debt for equity swap.

Author profile:

Author Photo - Ian Kellock CTA
Ian Kellock CTA
Ian, CTA, is a Tax Partner at Ashurst and has extensive experience in Australian corporate and international tax, advising Australian and foreign-owned banking and financial services groups. Ian’s practice is primarily focused on due diligence and structuring for mergers, acquisitions and divestments, financing transactions and group reorganisations. Ian has significant recent experience advising on all income tax aspects of financing and refinancing transactions and asset and debt reconstruction projects. Current at 17 March 2016 Click here to expand/collapse more articles by Ian KELLOCK.
 

This was presented at 2014 Financial Services Taxation Conference.

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