Private ruling: Exercise of the Commissioner's discretion under subsection 109G(4) of the Income Tax Assessment Act 1936
Date of advice: 17 July 2020
Published: September 2020

Ruling: Q1: If the Company forgives the debt owing to it by the Taxpayer in the income year ended 30 June 2021, will the Commissioner exercise his discretion under subsection 109G(4) of the Income Tax Assessment Act 1936 ( ITAA 1936 ) so a deemed dividend will not arise under subsection 109F(1) of the ITAA 1936? | A1: The Commissioner has ruled on each of the specific questions.




Subject: Exercise of the Commissioner's discretion under subsection 109G(4) of the Income Tax Assessment Act 1936: In order to protect the privacy and commercial in-confidence components of this private binding ruling the following summary is provided: