• Hardship

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    The Commissioner of Taxation has a discretion to disregard a failure to make a minimum yearly repayment.

    He also has a discretion to exclude a forgiven debt from being treated as a dividend. Finally, the Commissioner has the power to disregard a liability incurred under a guarantee provided by the private company to an entity other than a private company.

    Last modified: 12 Jan 2005QC 27523