A debt is forgiven if you no longer have to pay it.
However, this Division does not apply to some cases of forgiveness, such as bankruptcy.
245 - 35 What constitutes forgiveness of a debt
245 - 36 What constitutes forgiveness of a debt if the debt is assigned
245 - 37 What constitutes forgiveness of a debt if a subscription for shares enables payment of the debt
245 - 40 Forgivenesses to which operative rules do not apply
245 - 45 Application of operative rules if forgiveness involves an
arrangement