Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 116.75

Special rule for CGT event happening to a lease

    The * capital proceeds from the expiry, surrender or forfeiture of a lease include any payment (because of the lease ending) by the lessor to the lessee for expenditure of a capital nature incurred by the lessee in making improvements to the leased property.

    The payment or expenditure can include giving property: see section   103 - 5.



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