Tax Laws Amendment (Transfer of Provisions) Act 2010 (79 of 2010)
Schedule 2 Forgiveness of commercial debts
Part 1 Main amendments
Income Tax Assessment Act 1997
3 Subsection 995-1(1)
Insert:
forgive a debt has the meaning given by sections 245-35, 245-36 and 245-37.
Note: Subdivisions 245-C to 245-G (about forgiveness of commercial debts) apply to certain arrangements as if the arrangements were forgiveness of debts: see section 245-45.