Commonwealth Consolidated Acts Commonwealth Consolidated ActsThere are 6 modifications to the general rules that may be relevant to a * CGT event. This table tells you:
• each * CGT event for which the general rules about * capital proceeds are relevant; and
• the modifications that can apply to that event; and
• any special rules that apply to that event.
Capital proceeds modifications | |||
|
| Only these modifications can apply: |
|
A1 | Disposal of a CGT asset | 1, 2, 3, 4, 5, 6 | If the * disposal is because another entity exercises an option: see section 116 - 65 If the disposal is of * shares or an interest in a trust: see section 116 - 80 If the disposal is a gift for which a section 30 - 212 valuation is obtained: see section 116 - 100 If a roll - over under Subdivision 310 - D applies: see section 116 - 110 If the disposal is a disposal of part of an interest in a * mining, quarrying or prospecting right under a * farm - in farm - out arrangement: see section 116 - 115 If the disposal involves a * look - through earnout right: see section 116 - 120 |
B1 | Use and enjoyment before title passes | 1, 2, 3, 4, 5, 6 | None |
C1 | Loss or destruction of a CGT asset | 2, 3, 4, 6 | None |
C2 | Cancellation, surrender and similar endings | 1, 2, 3, 4, 6 | See sections 116 - 75, 116 - 80, 116 - 110 and 116 - 115 |
C3 | End of option to acquire shares etc. | 2, 3, 4, 6 | None |
D1 | Creating contractual or other rights | 1, 2, 3, 4, 6 | None |
D2 | Granting an option | 1, 2, 3, 4, 6 | See section 116 - 70 |
D3 | Granting a right to income from mining | 1, 2, 3, 4, 6 | None |
D4 | Entering into a conservation covenant | 2, 3, 4, 5, 6 | 116 - 105 |
E1 | Creating a trust over a CGT asset | 1, 2, 3, 4, 5, 6 | None |
E2 | Transferring a CGT asset to a trust | 1, 2, 3, 4, 5, 6 | If a roll - over under Subdivision 310 - D applies: see section 116 - 110 |
E8 | Disposal by beneficiary of capital interest | 1, 2, 3, 4, 5, 6 | See section 116 - 80 |
F1 | Granting a lease | 2, 3, 4, 6 | None |
F2 | Granting a long - term lease | 2, 3, 4, 6 | None |
F4 | Lessee receives payment for changing lease | 2, 3, 4, 6 | None |
F5 | Lessor receives payment for changing lease | 2, 3, 4, 6 | None |
H2 | Receipt for event relating to a CGT asset | 2, 3, 4, 6 | None |
K6 | Pre - CGT shares or trust interest | 1, 2, 3, 4, 5, 6 | None |
K9 | Entitlement to receive payment of a * carried interest | 2, 3, 4, 6 | None |