Denmark Community Windfarm Ltd v Commissioner of Taxation [2017] FCA 478

INCOME TAX – whether a commonwealth grant received by a taxpayer was an assessable recoupment for the purposes of s 20-20(2) and 20-20(3) of the Income Tax Assessment Act 1997 (Cth) (1997 Act) – whether the grant was received "by way of indemnity" for the purposes of s 20-20(2) of the 1997 Act – whether a grant paid on capital account is a deductible outgoing in the current year or an earlier income year for the purposes of s 20-20(2) and 20-20(3) of the 1997 Act – whether an allowable depreciation under Div 328 is a deductible amount for the purposes of s 20-20(2) and 20-20(3). Click here