Income Tax Assessment Act 1997
CHAPTER 3 - SPECIALIST LIABILITY RULES PART 3-10 - FINANCIAL TRANSACTIONS
Division 245 - Forgiveness of commercial debts
Subdivision 245-B - What constitutes forgiveness of a debt
Guide to Subdivision 245-B SECTION 245-30 What this Subdivision is about
A debt is forgiven if you no longer have to pay it.
However, this Division does not apply to some cases of forgiveness, such as bankruptcy.
|245-35||What constitutes forgiveness of a debt|
|245-36||What constitutes forgiveness of a debt if the debt is assigned|
|245-37||What constitutes forgiveness of a debt if a subscription for shares enables payment of the debt|
|245-40||Forgivenesses to which operative rules do not apply|
|245-45||Application of operative rules if forgiveness involves an arrangement|