shopping_cart

Your shopping cart is empty

Dealing with rights and obligations under contractual arrangements–Rescheduling or cancellation paper

Member Price: $57.00
Non Member Price: $75.00

DisclaimerThis material is copyright. Apart from any fair dealing for the purposes of private study, research, criticism or review, as permitted under the Copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.
Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

Published on 06 Nov 08

This paper covers:

  • payments received to induce the rescheduling or cancellation
  • payments made to induce the rescheduling or cancellation
  • impact on characterisation for debt/equity purposes
  • deferral of cash payment - Div 16E and new TOFA rules
  • cross border issues (does IWT or RWT apply?)
  • compounding of interest
  • payments under guarantees
  • suspended interest
  • ordinary income and CGT rules for recipient
  • possible application of the commercial debt forgiveness and other specific anti-avoidance rules
  • closing or selling the business and continuing to pay outgoings (Brown, Jones, Guest).

Author profile

Peter McCullough CTA
Peter is a tax partner at Ashurst. He has over 30 years of experience advising on income tax matters, working in accounting and legal firms. Peter has had a particular focus on international tax, managing cross-border investments, group reorganisations, financing and mergers and acquisitions. - Current at 25 June 2018
Click here to expand/collapse more articles by Peter MCCULLOUGH.

 

This was presented at Tax in an Uncertain Economy .

Get a 20% discount when you buy all the items from this event.

Individual sessions

Managing debt rights and obligations – Some key tax issues

Author(s):  Peter MCCULLOUGH

Materials from this session:

Specific dealings with ‘impaired’ debts

Author(s):  Joshua CARDWELL

Materials from this session:

A series of case studies–A company struggling on the brink

Author(s):  Chris KINSELLA,  Gavin MARJORAM

Materials from this session:

GST in an uncertain economy

Author(s):  Ross STITT

Materials from this session:

Tax accounting in a loss situation

Author(s):  Tracey RENS,  Darren LEE

Materials from this session:

Administration, liquidation and receivership–The legal basics

Author(s):  Philip HOSER

Materials from this session:

The perspective of the appointed representative

Author(s):  Barry KOGAN

Materials from this session:

The income tax law background and implications

Author(s):  Jeremy HIRSCHHORN

Materials from this session:

Cashed up and ready to take advantage of opportunities

Author(s):  Muhunthan KANAGARATNAM

Materials from this session:

The increased need for tax risk management in an uncertain economy

Author(s):  David L WILLIAMS,  Chris DOBSON

Materials from this session:

Companies facing insolvency or other difficulties failing to pay taxes

Author(s):  Tim SHERMAN,  David ANDERSON

Materials from this session:

Managing capital structure

Author(s):  Simon JENNER,  Andrew FOSTER

Materials from this session:

Further details about this event:

 

Copyright Statement