I truly hope this information is helpful but please do not rate until you are satisfied. If you want to click on 1 or 2 just click on the continue to work with me button instead. You will then be able to add any other info or respond to what I have posted so far. Rating 3-5 gives me credit and a good rating but you can still converse with me.
Thank you very much for responding to my query.
However I note that the documents you asked me to reference to were relative to the USA.
I am based in Australia, I believe we may be subject to different rulings.
NB. The loan was always a loan as documented in the beginning, and no debt forgiveness and or gifting is involved.