• Insurance recoveries

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    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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    Where you have an assessable insurance recovery for loss of livestock or for loss by fire of trees that were assets of a primary production business carried on in Australia, you can elect to include the amount in assessable income in equal instalments over five years.

    Last modified: 09 Feb 2006QC 27451