Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 245-77 245-77 Gross forgiven amount shared between debtors
If 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:
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*
Gross forgiven amount in relation to the debt
Number of entities liable to pay the debt |
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