30. Compensation and recovery payments

Where a person or an associate of the person derives an amount which compensates for or represents recovery of –

income or an amount to be included in calculating income, which the person expects or expected to derive; or

a loss or an amount to be deducted in calculating income, which the person has incurred or which the person expects or is expected to incur, subject to section 24, the compensation amount shall be included in calculating the income of the person and takes its character from the amount compensated for.