INCOME TAX ASSESSMENT ACT 1997 - SECT 245.77 Gross forgiven amount shared between debtors
INCOME TAX ASSESSMENT ACT 1997 - SECT 245.77
Gross forgiven amount shared between debtorsIf 2 or more entities were liable (except as partners in a partnership) to pay a debt, whether their liability was joint or several, or joint and several, this Subdivision applies as if each entity had a * gross forgiven amount worked out using the formula:
