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
Division 20
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Amounts included to reverse the effect of past deductions
Subdivision 20-A
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Insurance, indemnity or other recoupment for deductible expenses
What is an
assessable recoupment
?
SECTION 20-30 Tables of deductions for which recoupments are assessable 20-30(1)
This table shows the deductions under the Income Tax Assessment Act 1997 for which recoupments are assessable.
20-30(2)
This table shows the deductions under the Income Tax Assessment Act 1936 for which recoupments are assessable.
View history note
Hide history noteSECTION 20-30 Tables of deductions for which recoupments are assessable 20-30(1)
This table shows the deductions under the Income Tax Assessment Act 1997 for which recoupments are assessable.
Note:
References are to section numbers except where otherwise indicated.
| Provisions of the Income Tax Assessment Act 1997 | ||
| Item | Provision | Description of expense |
| 1.1 | 8-1 (so far as it allows you to deduct a bad debt, or part of a debt that is bad) | bad debts |
| . | ||
| 1.2 | 8-1 (so far as it allows you to deduct rates or taxes) | rates or taxes |
| . | ||
| 1.3 | 25-5 | tax-related expenses |
| . | ||
| 1.4 | 25-35 | bad debts |
| . | ||
| 1.5 | 25-45 | embezzlement or larceny by an employee |
| . | ||
| 1.5A | 25-47 | misappropriation by an employee or agent |
| . | ||
| 1.6 | 25-60 | election expenses, Commonwealth and State elections |
| 1.6A | 25-65 | election expenses, local governing body |
| . | ||
| 1.7 | 25-75 | rates and land taxes on premises used to produce mutual receipts |
| . | ||
| 1.8 | The former 25-80 | upgrading assets to meet GST obligations etc. |
| . | ||
| 1.8A | 25-95 | work in progress amount |
| . | ||
| 1.8B | item 7 of the table in section 30-15 | contributions relating to fund-raising events |
| . | ||
| 1.8C | item 8 of the table in section 30-15 | contributions relating to fund-raising auctions |
| . | ||
| 1.9 | Division 40 | capital allowances |
| . | ||
| 1.10 | The former Division 42 (as it applied to *software because of the former Subdivision 46-B) | expenditure on software |
| . | ||
| 1.11 | The former Subdivision 46-C | expenditure on software |
| . | ||
| 1.12 | The former Subdivision 46-D | expenditure on software, pooled |
| . | ||
| 1.13 | The former Division 42 (as it applied to *IRUs because of Division 44) | expenditure on IRUs |
| . | ||
| 1.14 | The former 330-15 | exploration or prospecting expenditure |
| . | ||
| 1.15 | The former 330-80 | allowable capital expenditure relating to mining or quarrying |
| . | ||
| 1.16 | The former 330-350 | petroleum resource rent tax |
| . | ||
| 1.17 | The former 330-370 | transport capital expenditure relating to mining or quarrying |
| . | ||
| 1.18 | The former 330-435 | rehabilitation expenditure relating to mining or quarrying |
| . | ||
| 1.19 | The former 330-485 | balancing adjustment deduction for expenditure relating to mining or quarrying |
| . | ||
| 1.19A | Division 355 | R & D |
| . | ||
| 1.20 | The former Subdivisions 380-A and 380-C | capital expenditure incurred in obtaining a spectrum licence |
| . | ||
| 1.21 | The former Subdivision 387-A | landcare operations expenditure |
| . | ||
| 1.22 | The former Subdivision 387-B | expenditure on facilities to conserve or convey water |
| . | ||
| 1.23 | The former Subdivision 387-D | grapevine establishment expenditure |
| . | ||
| 1.24 | The former Subdivision 387-C | horticultural plant establishment expenditure |
| . | ||
| 1.25 | The former Subdivision 387-E | mains electricity connection expenditure |
| . | ||
| 1.26 | The former Subdivision 400-A | expenditure on environmental impact assessment |
| . | ||
| 1.27 | The former Subdivision 400-B | expenditure on environmental protection activities |
| . | ||
| 1.27A | 420-15 | registered emissions unit |
| . | ||
| 1.28 | 775-30 | forex realisation loss |
20-30(2)
This table shows the deductions under the Income Tax Assessment Act 1936 for which recoupments are assessable.
Note:
References are to section numbers except where otherwise indicated.
| Provisions of the Income Tax Assessment Act 1936 | ||
| Item | Provision | Description of expense |
| 2.1 | Former 51(1) (so far as it allowed you to deduct a bad debt, or part of a debt that is bad) | bad debts |
| . | ||
| 2.2 | Former 51(1) (so far as it allowed you to deduct rates or taxes) | rates or taxes |
| . | ||
| 2.3 | 63 | bad debts |
| . | ||
| 2.4 | Former 69 | tax-related expenses |
| . | ||
| 2.5 | Former 70A(3) | mains electricity connection expenditure |
| . | ||
| 2.6 | Former 71 | embezzlement or larceny by an employee |
| . | ||
| 2.7 | Former 72 | rates and land tax |
| . | ||
| 2.7A | Former 72A | a payment of petroleum resource rent tax, or an instalment of petroleum resource rent tax, or a credit under paragraph 99(d) of the Petroleum Resource Rent Tax Assessment Act 1987 in respect of a payment of such an instalment |
| . | ||
| 2.8 | Former 73B, 73BA or 73BH | research and development activity expenditure |
| . | ||
| 2.9 | Former 74 | election expenses, Commonwealth and State elections |
| . | ||
| 2.9A | Former 74A | election expenses, local governing body |
| . | ||
| 2.10 | Former 75AA(1) or (6) | grape vine establishment expenditure |
| . | ||
| 2.11 | Former 75B(2) or (3A) | water conservation or conveyance expenditure |
| . | ||
| 2.12 | Former 75D(2) | land degradation prevention expenditure |
| . | ||
| 2.13 | Former 82AB | development allowance expenditure |
| . | ||
| 2.14 | Former 82BB | environmental impact study expenditure |
| . | ||
| 2.15 | Former 82BK | environmental protection expenditure |
| . | ||
| 2.16 | (Repealed by No 133 of 2003) | |
| . | ||
| 2.17 | Former Division 10 of Part III | mining and quarrying expenditure |
| . | ||
| 2.18 | Former Division 10AAA of Part III | expenditure on transport of minerals and quarry materials |
| . | ||
| 2.19 | Former Division 10AA of Part III | expenditure on prospecting and mining for petroleum |
| . | ||
| 2.20 | Former 124BA | expenditure on rehabilitating mining, quarrying and petroleum sites |
| . | ||
| 2.21 | Former 124ZZF | horticultural plant establishment expenditure (effective life of the plant less than 3 years) |
| . | ||
| 2.22 | Former 124ZZG | horticultural plant establishment expenditure (effective life of the plant more than 3 years) |
| . | ||
| 2.23 | Former 628 | drought mitigation property expenditure by a primary producer |
| . | ||
| 2.24 | Former 636 | drought mitigation property expenditure by a leasing company |
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