Income Tax (Transitional Provisions) Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-1 - ASSESSABLE INCOME  

Division 20 - Items included to reverse the effect of past deductions  

Subdivision 20-A - Insurance, indemnity or recoupment for deductible expenses  

SECTION 20-1  

20-1   Application of Subdivision 20-A of the Income Tax Assessment Act 1997  

Subdivision 20-A of the Income Tax Assessment Act 1997 applies to an assessable recoupment received in the 1997-98 income year or a later income year of a loss or outgoing whenever incurred.