Legislation

ITAA 1936 s 110-55 (n) the commercial debt forgiveness rules in Division 245 will not apply to reduce the tax attributes of an SMSF Investor in relation to any debt forgiveness that arises because of the limited recourse nature of the Loan for the SMSF Investor (o) Division 230 will not apply to any gains or losses with respect to the PEL where the investor is excepted from the Division pursuant to section 230-455 (p) the Application Fee incurred by the investor in respect of the Loan will be deductible under section 25-25 (q) the anti-avoidance provisions contained in Part IVA

ATO documents that consider ITAA 1936 s 110-55 (n) the commercial debt forgiveness rules in Division 245 will not apply to reduce the tax attributes of an SMSF Investor in relation to any debt forgiveness that arises because of the limited recourse nature of the Loan for the SMSF Investor (o) Division 230 will not apply to any gains or losses with respect to the PEL where the investor is excepted from the Division pursuant to section 230-455 (p) the Application Fee incurred by the investor in respect of the Loan will be deductible under section 25-25 (q) the anti-avoidance provisions contained in Part IVA