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.