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Private Business Online - Part 6: The potential cost of forgiving debts

Wednesday, 29 July 2020 - 1:00 PM to
Wednesday, 29 July 2020 - 2:00 PM

Registration Time:

Member Price: $75.00

Non Member Price: $95.00

CPD hours:1.00

Part 6: The potential cost of forgiving debts

This session will provide a refresher and an update on the income tax issues to consider when forgiving or restructuring debts, focusing on the consequences for debtors under the commercial debt forgiveness provisions. This session will include a discussion of:

  • Relevant types of debts and liabilities, and potential carve-outs
  • The extended statutory concept of ‘forgiveness’, and how it can apply to debt restructuring transactions
  • Valuation rules, and how other tax attributes are reduced and affected
  • Intra-group debts – application to tax consolidated groups and commonly owned entities.

Special Offer

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