INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 (ARCHIVE)

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 20-5 (ARCHIVE)   Continued application of some 1936 Act provisions about recoupment  

20-5(1)    
The provisions of the Income Tax Assessment Act 1936 listed in the table continue to apply to assessments for the 1997-98 income year and later income years (except in relation to an amount received as recoupment in the 1997-98 income year or a later income year).

Note:

The provisions in the table generally treat expenditure as not having been incurred to the extent that it has been recouped.

Item	Provision	Description of expense provision relates to:
1	73D	research and development activity expenditure
.
2	82BE	environmental impact study expenditure
.
2A	122T	General mining and quarrying expenditure
.
2B	123A(2) and (3)	Expenditure on transporting minerals
.
2C	123BD(4) and (5)	Expenditure on transporting quarry materials
.
2D	124AQ	Petroleum mining expenditure
.
3	124ZZN	horticultural plant establishment expenditure

20-5(2)    
Sections 82BE and 124ZZN of the Income Tax Assessment Act 1936 do not apply to an assessment for the 1998-99 income year or a later income year. This has effect despite subsection (1).