The Issues Log

Issue: CG 4

Submission Number	039
Submitter	Tony Fuller, PricewaterhouseCoopers
Section / Provision Income Tax Act 2004	CG 4
Date Received	07/09/05
Description of issue	Section CG 4 of the Income Tax Act 2004 treats as income amounts recovered when "the person recovers some or all of the expenditure or loss, whether through insurance, indemnity, or otherwise".
Section / Provision Income Tax Act 1994	DJ 1
Status	Finalised
Outcome	The Panel considers that there is no unintended legislative change in section CG 4(1) of the 2004 Act. The Panel considers that Legislative amendment is not required.