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Division 245: The potential income tax cost of a forgiven debt paper

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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 01 Dec 15 by WESTERN AUSTRALIAN DIVISION, THE TAX INSTITUTE

This paper covers:

  • debts subject to the rules
  • forgivness
  • gross forgiven amount
  • net forgiven amount
  • application of net forgiven amount
  • record keeping.

Author profile

Tristan Boyd
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