What`s Love Got to Do With It: Applying the Commercial Debt Forgiveness Rules to Family

The commercial debt forgiveness rules are focused on avoiding a misalignment between the creditor and debtor’s tax position when a debt is forgiven and includes a specific exclusion for debts forgiven for reasons of natural love and affection. However, the ATO’s guidance on what transactions quality for this exclusion is changing. This session explores the commercial debt forgiveness rules, the ATO’s position and practical implications for taxpayers.

Featuring:  Murray Howlett, Pilot Partners, Brisbane

[18.49 minutes] [0.30 CPD hours]

© Television Education Network Pty Ltd 2020

Product Code: PAH7311
 Price:  $33.00 (Inclusive of GST)