Tax Laws Amendment (Transfer of Provisions) Act 2010 (79 of 2010)
Schedule 2 Forgiveness of commercial debts
Part 2 Consequential amendments
Income Tax Assessment Act 1997
33 Paragraphs 230-470(a) and (b)
Repeal the paragraphs, substitute:
(a) if section 245-90 (about agreements to forgo capital losses or deductions) applies - the debt's provisional net forgiven amount mentioned in that section; or
(b) if that section does not apply - the debt's*net forgiven amount.
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