INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-1 - ASSESSABLE INCOME  

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

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

SECTION 20-15   How to use this Subdivision  

If you incurred the deductible loss or outgoing

20-15(1)  
First, read sections 20-20 to 20-30 to work out whether you have received an assessable recoupment. If not, you do not need to read the rest of the Subdivision.

20-15(2)  
If you have received one or more assessable recoupments, sections 20-35 to 20-55 tell you how much is included in your assessable income for an income year. If another entity incurred a loss or outgoing you can deduct

20-15(3)  
Sections 20-60 and 20-65 tell you how to apply this Subdivision.


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.