The Australian Taxation Office (ATO) has issued Taxation Determination TD 2022/1 - Income tax: commercial debt forgiveness - does the exclusion for debts forgiven for reasons of natural love and affection require that the creditor be a natural person? TD 2022/1 states that a creditor must be a natural person to forgive a debt for reasons of natural love and affection. It is also noted that this view is different from an earlier Interpretative Decision that was issued in 2003 and withdrawn on…