Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 116.105

    If * CGT event D4 happens because you enter into a * conservation covenant over land you own and you can deduct an amount under Division   31 because you enter into the covenant, the * capital proceeds from the event are the amount you can deduct.

Note:   To get a deduction under Division   31, you must not receive money, property or other material benefit for entering into the covenant.