INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

Subdivision B - Development allowance  

SECTION 82AO   RECOUPMENT OF EXPENDITURE  

82AO(1A)   [Limited operation]  

This section does not apply to an amount received in the 1997-98 year of income or a later year of income if the amount is received as recoupment as defined by section 20-25 of the Income Tax Assessment Act 1997 .

Note:

Subdivision 20-A of the Income Tax Assessment Act 1997 applies instead.

82AO(1)   [Subdivision not to apply]  

This Subdivision does not apply, and shall be deemed never to have applied, in relation to a taxpayer, to expenditure in respect of which the taxpayer is recouped, or becomes entitled to be recouped, by the Commonwealth, by a State, by the Administration of a Territory, by an authority constituted by or under a law of the Commonwealth, of a State or of a Territory or by any other person.

82AO(2)   [Commissioner's power to dissect]  

Where a taxpayer receives, or becomes entitled to receive, an amount that constitutes to an unspecified extent a recoupment of expenditure of a capital nature in respect of a unit of property in relation to which this Subdivision applies, the Commissioner may, for the purposes of subsection (1), determine the extent to which the amount constitutes a recoupment of that expenditure.