TD 2019/D9 – the ‘natural love and affection’ exclusion from Commercial Debt forgiveness – Commissioner proposes to change his position on forgiving companies

The Commissioner released Draft Determination TD 2019/D9, proposing to rule that the commercial debt forgiveness exclusion – for natural love and affection – must be human – conflicting with earlier ATO IDs about companies. They seek comments by 1 November 2019.

See below for the ruling and commentary.

FJM 6.10.19

[Tax Month – September 2019]