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Recorded Webinars
Recorded Webinar: Applying the Commercial Debt Forgiveness Rules to Families - What's Love Got to Do with It
With the proposed changes to Division 7A loans, advisers and taxpayers have been considering elimination of the debts through debt forgiveness for reasons of natural love and affection. This session reviews the ATO guidance and the circumstances in which the commercial debt forgiv
PRESENTED BY
Murray Howlett
Director, Pilot
Date/Time
About the Webinar
With the proposed changes to Division 7A loans, advisers and taxpayers have been considering elimination of the debts through debt forgiveness for reasons of natural love and affection. This session reviews the ATO guidance and the circumstances in which the commercial debt forgiveness rules will apply, and considers:
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The application of the commercial debt forgiveness rules
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What is a commercial debt?
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What is the effect of forgiving a commercial debt?
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What is the ‘natural love and affection’ exemption?
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ATO’s current position on debt forgiveness for reasons of natural love and affection:
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Recent withdrawal of long-standing guidance ATO ID 2003/589
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Can an entity that is not a natural person can forgive a debt for reasons of natural love and affection?
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Practical implications for:
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Forgiving Division 7A loans
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Structuring of settlements in family law cases
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Presented By
Murray Howlett
Director, PilotWho 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.
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]