Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 20.15

If you incurred the deductible loss or outgoing

  (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.

If another entity incurred a loss or outgoing you can deduct

  (3)   Sections   20 - 60 and 20 - 65 tell you how to apply this Subdivision.