(1) An amount you receive is not assessable income and is not * exempt income for an income year if:
(a) you must repay it; and
(b) you repay it in a later income year; and
(c) you cannot deduct the repayment for any income year.
(a) you received the amount as part of a larger amount; or
(b) the obligation to repay existed when you received the amount or it came into existence later.
(3) This section does not apply to an amount you must repay
because you received a lump sum as compensation or damages for a wrong or
injury you suffered in your occupation.