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
How much is included in your assessable income?
SECTION 20-55 Meaning of previous recoupment law 20-55(1)
Previous recoupment law means a provision of the Income Tax Assessment Act 1936 listed in this table.
20-55(2)
Former section 330-350 of this Act is also a previous recoupment law .
View history note
Hide history noteSECTION 20-55 Meaning of previous recoupment law 20-55(1)
Previous recoupment law means a provision of the Income Tax Assessment Act 1936 listed in this table.
| Previous recoupment law | ||
| Item | Provision | What kind of expense the provision relates to: |
| 1 | Former 26(j) (so far as it relates to an amount received for or in respect of a loss or outgoing that is a deduction) | a loss or outgoing that is a deduction |
| . | ||
| 2 | Former 26(k) | embezzlement or larceny by an employee |
| . | ||
| 3 | Former 63(3) | bad debts |
| . | ||
| 4 | Former 69(8) | tax-related expenses |
| . | ||
| 5 | Former 70A(5) | mains electricity connection expenditure |
| . | ||
| 6 | Former 72(2) (so far as it relates to a refund of an amount you have deducted or can deduct) | rates or taxes |
| . | ||
| 6A | Former 72A(4)(a) and (aa) | petroleum resource rent tax |
| . | ||
| 7 | Former 74(2) | election expenses, Commonwealth and State elections |
20-55(2)
Former section 330-350 of this Act is also a previous recoupment law .
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