Document ID: chunk:federal_register_of_legislation:C2004C00927:clause:1_2:p3
Version: federal_register_of_legislation:C2004C00927
Segment Type: clause
Provision Reference: sch 1 cl 2 (pt 3/11)
Character Range: 12659–16060

A company receives (or becomes entitled to) an amount:                                                                                                                           73B(27A)
                                                                   • in respect of the results of research and development activities on which it incurred deductible expenditure; or
                                                                   • attributable to it having incurred deductible expenditure on research and development activities.
                                                                   The amount is included in its assessable income.
  6                                                                You receive an amount as recoupment of expenditure on research and development activities that you have deducted at the rate of 150%: the rate of deduction is reduced to 100%.  73C
  7                                                                You receive an amount as recoupment for your local governing body election expenses: an amount is included in your assessable income.                                            74A(4)
  8                                                                You receive superannuation benefits as a result of someone's deductible contributions: the benefits are included in your assessable income.                                      82AAQ

Subdivision 20-A—Insurance, indemnity or other recoupment for deductible expenses

Guide to Subdivision 20-A

20-10  What this Subdivision is about

      Your assessable income may include an amount that you receive by way of insurance, indemnity or other recoupment if:
           it is for a deductible expense; and
           it is not otherwise assessable income.
Table of sections

20-15 How to use this Subdivision

What is an assessable recoupment?

20-20 Assessable recoupments
20-25 What is recoupment?
20-30 Tables of deductions for which recoupments are assessable

How much is included in your assessable income?

20-35 If the expense is deductible in a single income year
20-40 If the expense is deductible over 2 or more income years
20-45 Effect of balancing charge
20-50 If the expense is only partially deductible
20-55 Meaning of previous recoupment law

20-15  How to use this Subdivision

 (1) First, read sections 20-20 to 20-30 to work out whether you have received an assessable recoupment. If not, you do not need to read the rest of the Subdivision.

 (2) If you have received one or more assessable recoupments, sections 20-35 to 20-55 tell you how much is included in your assessable income for an income year.

What is an assessable recoupment?

20-20  Assessable recoupments

Exclusion

 (1) An amount is not an assessable recoupment to the extent that it is *ordinary income, or it is *statutory income because of a provision outside this Subdivision.

Insurance or indemnity

 (2) An amount you receive as *recoupment of a loss or outgoing is an assessable recoupment if:
 (a) you receive the amount by way of insurance or indemnity; and
 (b) you can deduct an amount for the loss or outgoing for the *current year, or you have deducted or can deduct an amount for it for an earlier income year, under any provision of this Act.

Other recoupment

 (3) An amount you receive as *recoupment of a loss or outgoing (except by way of insurance or indemnity) is