Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 20.60

    This Subdivision applies in a different way if:

  (a)   an entity (other than you) incurs a loss or outgoing; and

  (b)   you can deduct the whole of the loss or outgoing for an income year, or you can deduct amounts for the loss or outgoing over 2 or more income years; and

  (c)   no other entity can deduct an amount for the loss or outgoing; and

  (d)   the entity that incurred the loss or outgoing receives one or more amounts as * recoupment of the loss or outgoing.

This Subdivision (except this section and section   20 - 65) applies as if you had incurred the loss or outgoing and had also received the * recoupment.