25 Feb 1313 Taxpayer assessable on partial refund of deposit - Batchelor
The AAT has held that an amount of $47,927 (being part of a deposit previously paid) was included in the taxpayer’s assessable income under s 20-20 of ITAA 1997. Section 20-20 applies to the recoupment of a deductible loss or outgoing received by way of insurance or indemnity. In contrast, the amount was not assessable as ordinary income, as the taxpayer had made no gain on the transaction.
Batchelor and FCT  AATA 93 (AAT, Professor Deutsch DP, 22 February 2013).