Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 20-60 20-60 If you are the only entity that can deduct an amount for the loss or outgoing
This Subdivision applies in a different way if:
(a) an entity (other than you) incurs a loss or outgoing; and
(b) you can deduct the whole of the loss or outgoing for an income year, or you can deduct amounts for the loss or outgoing over 2 or more income years; and
(c) no other entity can deduct an amount for the loss or outgoing; and
(d) the entity that incurred the loss or outgoing receives one or more amounts as * recoupment of the loss or outgoing.
This Subdivision (except this section and section 20-65 ) applies as if you had incurred the loss or outgoing and had also received the * recoupment.
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