• Specific Year
    Any

INCOME TAX ASSESSMENT ACT 1936 - SECT 109XD Forgiveness of loan debt does not give rise to assessable income if loan gives rise to assessable income

INCOME TAX ASSESSMENT ACT 1936 - SECT 109XD

Forgiveness of loan debt does not give rise to assessable income if loan gives rise to assessable income

    An amount is not included in the assessable income for a year of income of the shareholder or associate referred to in subsection   109XA(3) because of the forgiveness of an amount of a debt resulting from a loan if, because of the loan, an amount was included in the assessable income of the shareholder or associate under section   109XB (or former section   109UB) in that or an earlier year of income.

Download

No downloadable files available