Income Tax Assessment Act 1997
CHAPTER 2
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LIABILITY RULES OF GENERAL APPLICATION
PART 2-1
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ASSESSABLE INCOME
·
it is for a deductible expense; and
·
it is
not
otherwise assessable income.
·
it is for an expense that you can deduct; and
·
it is
not
otherwise your assessable income.
Division 20
-
Amounts included to reverse the effect of past deductions
Subdivision 20-A
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Insurance, indemnity or other recoupment for deductible expenses
SECTION 20-10
What this Subdivision is about
Recoupment of expenses you incurred and can deduct
Your assessable income may include an amount that you receive by way of insurance, indemnity or other recoupment if:
Recoupment of expenses you did not incur but can deduct
Your assessable income may include an amount that another entity receives by way of insurance, indemnity or other recoupment if:
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