Document ID: chunk:federal_register_of_legislation:C2004C00927:clause:1_2:p5
Version: federal_register_of_legislation:C2004C00927
Segment Type: clause
Provision Reference: sch 1 cl 2 (pt 5/11)
Character Range: 18490–26087

25-5                                                                               tax-related expenses
  1.4                                             25-35                                                                              bad debts
  1.5                                             25-45                                                                              embezzlement or larceny by an employee
  1.6                                             25-60                                                                              election expenses, Commonwealth and State elections
  1.7                                             25-75                                                                              rates and land taxes on premises used to produce mutual receipts
  1.8                                             330-15                                                                             exploration or prospecting expenditure
  1.9                                             330-80                                                                             allowable capital expenditure relating to mining or quarrying
  1.10                                            330-370                                                                            transport capital expenditure relating to mining or quarrying
  1.11                                            330-435                                                                            rehabilitation expenditure relating to mining or quarrying
  1.12                                            330-485                                                                            balancing adjustment deduction for expenditure relating to mining or quarrying
  1.13                                            Subdivision 387‑A                                                                  landcare operations expenditure
  1.14                                            Subdivision 387‑B                                                                  expenditure on facilities to conserve or convey water
  1.15                                            Subdivision 387‑D                                                                  grapevine establishment expenditure
  1.16                                            Subdivision 387‑E                                                                  mains electricity connection expenditure

 (2) This table shows the deductions under the Income Tax Assessment Act 1936 for which recoupments are assessable.

Note: References are to section numbers except where otherwise indicated.
Provisions of the Income Tax Assessment Act 1936
Item                                              Provision                                                                            Description of expense
  2.1                                             51(1) (so far as it allows you to deduct a bad debt, or part of a debt that is bad)  bad debts
  2.2                                             51(1) (so far as it allows you to deduct rates or taxes)                             rates or taxes
  2.3                                             63                                                                                   bad debts
  2.4                                             69                                                                                   tax-related expenses
  2.5                                             70A(3)                                                                               mains electricity connection expenditure
  2.6                                             71                                                                                   embezzlement or larceny by an employee
  2.7                                             72                                                                                   rates and land tax
  2.8                                             73B                                                                                  research and development activity expenditure
  2.9                                             74                                                                                   election expenses, Commonwealth and State elections
  2.10                                            75AA(1) or (6)                                                                       grape vine establishment expenditure
  2.11                                            75B(2) or (3A)                                                                       water conservation or conveyance expenditure
  2.12                                            75D(2)                                                                               land degradation prevention expenditure
  2.13                                            82AB                                                                                 development allowance expenditure
  2.14                                            82BB                                                                                 environmental impact study expenditure
  2.15                                            82BK                                                                                 environmental protection expenditure
  2.16                                            82Z(1)                                                                               currency exchange loss
  2.17                                            Division 10 of                                                                       mining and quarrying expenditure
                                                  Part III
  2.18                                            Division 10AAA of Part III                                                           expenditure on transport of minerals and quarry materials
  2.19                                            Division 10AA of Part III                                                            expenditure on prospecting and mining for petroleum
  2.20                                            124BA                                                                                expenditure on rehabilitating mining, quarrying and petroleum sites
  2.21                                            124ZZF                                                                               horticultural plant establishment expenditure (effective life of the plant less than 3 years)
  2.22                                            124ZZG                                                                               horticultural plant establishment expenditure (effective life of the plant more than 3 years)
  2.23                                            628                                                                                  drought mitigation property expenditure by a primary producer
  2.24                                            636                                                                                  drought mitigation property expenditure by a leasing company

How much is included in your assessable income?

20-35  If the expense is deductible in a single income year

 (1) Your assessable income includes an *assessable recoupment of a loss or outgoing if:
 (a) you can deduct the whole of the loss or outgoing for the *current year; or
 (b) you have deducted or can deduct the whole of the loss or outgoing for an earlier income year.

Note 1: The operation of