Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 104.120

  (1)   CGT event F3 happens if a lessor incurs expenditure in getting the lessee's agreement to vary or waive a term of the lease. The lessor makes a capital loss equal to the amount of expenditure it incurred. (The expenditure can include giving property: see section   103 - 5.)

  (2)   The time of the event is when the term is varied or waived.

Exception

  (3)   However, this event does not apply to expenditure for a lease to which the lessor has chosen to apply section   104 - 115.