Income Tax Assessment Act 1997
You can also deduct from your assessable income an amount that a provision of this Act (outside this Division) allows you to deduct.
8-5(2)
Some provisions of this Act prevent you from deducting an amount that you could otherwise deduct, or limit the amount you can deduct.
8-5(3)
An amount that you can deduct under a provision of this Act (outside this Division) is called a specific deduction .
Note:
If you receive an amount as insurance, indemnity or other recoupment of a deductible expense, the amount may be included in your assessable income: see Subdivision 20-A .
For a summary list of provisions about deductions, see section 12-5 .
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