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Recorded Webinars

Recorded Webinar: Commercial Debt Forgiveness: All is Forgiven but is there any Penance?

Attending to the tax treatment for the commercial debt forgiveness rules depends on whether you are looking through the eyes of the debtor or creditor. To assist in understanding the full tax implications of forgiving a commercial debt, this sessions looks at:
PRESENTED BY Linda Tapiolas Partner, Chartered Tax Adviser - Cooper Grace Ward , Brisbane

Date/Time

About the Webinar

Attending to the tax treatment for the commercial debt forgiveness rules depends on whether you are looking through the eyes of the debtor or creditor. To assist in understanding the full tax implications of forgiving a commercial debt, this sessions looks at:

  • What is a “commercial debt”?
  • What is the “net forgiven amount”?
  • What if there is a remaining net forgiven amount after reducing the four deduction groups?
  • Commissioner’s change of heart on who can satisfy the “natural love and affection” exclusion
  • How to determine if the debt forgiven is a personal use asset of the creditor
  • When is the creditor entitled to a capital loss?
  • What if the debt originated when the debtor had no means of repaying?
  • How to determine both the market value and cost base of the debt
  • Practical examples based on TD2

Presented By

Linda Tapiolas
Partner, Chartered Tax Adviser, Cooper Grace Ward Brisbane, Qld

As a partner in Cooper Grace Ward’s commercial team, Linda specialises in providing tailored advice and support services to accountants, financial planners and other professional advisers.

Linda provides technical advice on complex tax, capital gains tax (CGT), Division 7A issues, and acting on business sales and acquisitions to ensure clients achieve commercial and tax effective outcomes.

Prior to joining Cooper Grace Ward, Linda worked as an accountant for 18 years, advising clients on capital gains, business acquisitions, and restructuring, providing her with a unique insight into her current clients’ business environment. She also regularly conducts seminars and training on topics including business structuring, CGT small business concessions and Division 7A issues.

Who Should Attend?

This webinar is suitable for accountants and lawyers advising in taxation matters – Australia wide. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.

CPD Information

Accountants can claim up to 1 CPD/Training hour. Lawyers can claim up to 1 CPD unit/point – substantive law . This webinar has been designed to run for 1 hour, however, webinar lengths can vary depending on the level of questions and discussion.

WA lawyers – From 1/4/2021, due to changes to your CPD requirements we are unable to verify your completion of recorded webinars to the Legal Practice Board of WA.

Enquiries/Assistance

If you need assistance or have an enquiry, please do not hesitate to contact our Webinar Coordinator, Lisa Tran on (03) 8601 7709 or email: [email protected]

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