INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

Subdivision C - Deductions for expenditure on environmental impact studies  

SECTION 82BE   NO DEDUCTION WHERE EXPENDITURE IS RECOUPED  

82BE(1A)   [Application limited]  

This section does not apply to an amount received in the 1997-98 year of income or a later year of income if the amount is received as recoupment as defined by section 20-25 of the Income Tax Assessment Act 1997 .

Note:

Subdivision 20-A of the Income Tax Assessment Act 1997 applies instead.

82BE(1)   [Recoupment of expenditure not included in assessable income]  

Section 82BB does not apply, and is to be taken never to have applied, to expenditure if:

(a) the taxpayer, whether before or after the commencement of this subsection, receives, or becomes entitled to receive, a recoupment of, or grant in respect of, the expenditure; and

(b) the amount of the recoupment or the grant is not, and will not be, included in the assessable income of the taxpayer of any year of income.

82BE(2)   [Deemed amount of recoupment]  

For the purposes of subsection (1), if a taxpayer receives, or becomes entitled to receive, an amount that constitutes to an unspecified extent a recoupment of, or a grant in respect of, expenditure, then so much of that amount as is reasonable is taken to be a recoupment of, or grant in respect of, that expenditure, as the case requires.

82BE(3)   [Amendment of assessments]  

Section 170 does not prevent the amendment of an assessment at any time for the purpose of giving effect to this section.