Section DB 44 — Income Tax Act 2007: Restitution of stolen property

DB 44 Restitution of stolen property Deduction (1) A person who derives income under section CB 32 (Property obtained by theft) is allowed a deduction for the amount of restitution that they make to a person who is beneficially entitled to property to which section CB 32 applies. Timing of deduction (2) The deduction is allocated to the income year in which the person makes restitution. Meaning of restitution (3) In this section, restitution includes restitution made to a person claiming through the person beneficially entitled to the property. Link with subpart DA (4) This section supplements the general permission and overrides the capital limitation and the private limitation. The other general limitations still apply. Defined in this Act: amount , capital limitation , deduction , general limitation , general permission , income , income year , private limitation , property , restitution , supplement , Compare: 2004 No 35 s DB 35