http://www.askaboutmoney.com/showthread.php?t=178662
This thread, although closed got me thinking.
If someone got a write-down of €50,000 either through inability to pay or a negotiated settlement for early payoff or a surrender of a tracker, would gift tax arise?
It would essentially be a gift from an unrelated party with a low tax free element (not sure of the figure).
This thread, although closed got me thinking.
If someone got a write-down of €50,000 either through inability to pay or a negotiated settlement for early payoff or a surrender of a tracker, would gift tax arise?
It would essentially be a gift from an unrelated party with a low tax free element (not sure of the figure).