Single Product

2022 March Case Study: Forgiving Loans & UPEs

$181.82
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Forgiving Loans & UPEs

The forgiveness of loans and UPEs is a common occurrence within closely held groups. While the writing off of a loan or UPE in itself is a simple transaction, there are some complex tax issues that arise upon such forgiveness. The most difficult set of rules to understand in these situations is arguably the Commercial Debt Forgiveness (CDF) provisions. However, there are also other areas of taxation that come into play depending on whether you are looking at the forgiveness from the debtor’s or creditor’s perspective.In our next case study session, we will provide an in-depth overview of the various tax issues that arise upon the forgiveness of loans and UPEs and provide practical guidance on how to work through these rules.

The topics we will cover will include:

  • A comprehensive coverage of the CDF rules, including the various exceptions that are applicable.
  • Whether a creditor can claim a capital loss on the forgiveness of a loan or UPE.
  • Division 7A implications upon forgiveness and a discussion on pre-1997 statute barred loans and the ‘undue hardship’ exception.
  • Section 100A implications upon forgiving a UPE.

When:       Friday the 4th of March 2022
Duration:  90 Minutes

Can’t attend but need to?
Buy our recorded Webinar covering the entire presentation together with the notes & slides

**This session will qualify for 1.5 hours Structured CPD/CPE for CPA, CAANZ, IPA, TPB and Tax Institute members**

This download contains the following files:

The PowerPoint presentation (Microsoft Office 2010)

The Notes for the case study (PDF)

The solutions for the case study (PDF)

**** Please note that once purchased, a link to the webinar will be sent to you in a separate email. *****

The webinar Will be available 2 days after the live session
Contact Kim Ly  from our office on 08 9481 8448  for a copy of the link and supporting documents.
Please note that once purchased, a link to the webinar will be sent to you in a separate email.