A T O home
Legal Database
Search   
for 
 
Access the database 
Browse database
Searches  
View last document
Quick access 
View legislation
View a document
Email Cross Reference Material Previous/Next Section Contents Previous/Next Result
Printable version
Printable
version

INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-15 - NON-ASSESSABLE INCOME    View history reference

Division 59 - Particular amounts of non-assessable non-exempt income    View history reference

Operative provisions  

SECTION 59-30  Amounts you must repay  

 View history reference

59-30(1)  

An amount you receive is not assessable income and is not *exempt income for an income year if:


(a) you must repay it; and


(b) you repay it in a later income year; and


(c) you cannot deduct the repayment for any income year.

59-30(2)  

It does not matter if:


(a) you received the amount as part of a larger amount; or


(b) the obligation to repay existed when you received the amount or it came into existence later.

59-30(3)  

This section does not apply to an amount you must repay because you received a lump sum as compensation or damages for a wrong or injury you suffered in your occupation.


 



This information is provided by CCH Australia Limited. View the disclaimer and notice of copyright.
Top of page
More information on page