Explore the nuances of debt remission, including financial arrangement rules, Inland Revenue perspectives, and tax planning mechanisms.
A debtor may be released from their obligations under a debt through the creditor electing to write off or remit a debt or through the operation of law.
This will usually trigger the creation of debt remission income under the financial arrangement rules. Alternatively, a debt write-off may trigger a dividend, or there may not be any tax consequences.
This course will consider the tax implications of writing off debt, including:
Suitable for:Tax-aware intermediate-level accountants and more senior accountants.
TEO Training provides practical learning experiences on primarily tax-related topics for accountants, lawyers and business advisors across New Zealand.
Director, Jim Gordon Tax Ltd
Jim Gordon FCA started preparing farm accounts in 1974. He has been involved with almost all of the primary sector tax reforms since 1986. Jim brings a wide range of both theoretical and practical experience to his presentations.
