Income Tax Assessment Act 1997
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Hide history noteSECTION 245-160 245-160 Amount applied in reduction of expenditure included in assessable income in certain circumstances
If:
(a) after the *forgiveness income year you *recoup an amount of expenditure that is subject to reduction under section 245-145 ; and
(b) as a result of the recoupment, this Act applies to disallow any amount you have deducted in respect of the expenditure;
an amount equal to the amount, or the sum of the amounts, applied under this Subdivision in reduction of the expenditure is included in your assessable income in the income year in which the expenditure is recouped.
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