Recoupmments

S8(4)(a): Include in income deducted amounts that have been recouped

Recoup = W&T limited to (accrual- tax value)

Excludes S11F: Deductions iro contribution to retirement fund

S8(4)(e): Deferment if para 65/66 of 8th sch elected

Para 65: Involuntary Disposals

Excludes financial instruments

By act of law, theft, destruction

Replaced by qualifying assets

Compensation received/accrued

Para 66: Replacement Assets

Disposals of assets on which capital allowances granted

Applicable to immovable assets

65 and 66

Proceeds => base cost

All receipts/accruals used to acquire replacements

Contract w/in 12mo & in use 2/in 3yrs

Excludes deemed disposal & re-acquisition

Proceeds (ltd to cost) = accrual less inclusion in income

Base cost = cost less allowances