This MOU between RNC and AFN further demonstrates our desire to strengthen relationships, build understanding and create sustainable community benefits as we progress the development of the Dumont project.
173-174). Godâs laws in the Old Testament not only regulated slavery (so that those enslaved would be given many rights that they otherwise would not have had), but they also supplied the means whereby fairness could be meted out with regard to criminal activity and debt.T]here is no reasonable doubt that the New Testament, like the Old, not only tolerated chattel slavery (the form prevalent in the Greco-Roman world of Paulâs time) but helped to perpetuate it by making the slavesâ obedience to their masters a religious duty.
In this case the part that the creditor has no reasonable expectation of recovering is a bad debt. It is only that part of the debt that the creditor is entitled to write off as bad and claim as a deduction for income tax and GST purposes.Examples of when a debt is/is not bad Example 1 A supplier has supplied goods on credit to Mr B. Mr B owes the supplier $2,000 for the goods.riting off a debt as bad entitles a taxpayer to: â¢ A deduction in calculating income for income tax purposes, worth up to 39% of the debt, depending on the taxpayerâs marginal income tax rate: â¢ A GST deduction from output tax of the tax fraction of the debt.