Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:1_6:p6
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 1 cl 6 (pt 6/10)
Character Range: 222218–226122

lessor has deducted or can deduct an amount for depreciation under this Act.

Note: Subdivision 108‑D sets out when a building, structure or improvement is treated as a separate CGT asset.

 (4) In working out the amount of any premium paid or payable to the lessor for the grant, renewal or extension of a long‑term lease, disregard any part of it that is attributable to *plant of that kind.

  The payment of any premium can include giving property: see section 103‑5.

Modifications to general rules

116‑25  Table of modifications to the general rules

  There are 5 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:
Event number
                                Description of event:                                                              Special rules:
A1                              Disposal of a CGT asset                       1, 2, 3, 4, 5                        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
B1                              Use and enjoyment before title passes         1, 2, 3, 4, 5                        None
C1                              Loss or destruction of a CGT asset            2, 3, 4                              None
C2                              Cancellation, surrender and similar endings   1, 2, 3, 4                           See sections 116‑75 and 116‑80
C3                              End of option to acquire shares etc.          2, 3, 4                              None
D1                              Creating contractual or other rights          1, 2, 3, 4                           None
D2                              Granting an option                            1, 2, 3, 4                           See section 116‑70
D3                              Granting a right to income from mining        1, 2, 3, 4                           None
K1                              Partial realisation of intellectual property  1, 2, 3, 4                           None
E1                              Creating a trust over a CGT asset             1, 2, 3, 4, 5                        None
E2                              Transferring a CGT asset to a trust           1, 2, 3, 4, 5                        None
E8                              Disposal by beneficiary of capital interest   1, 2, 3, 4, 5                        See section 116‑80
F1                              Granting a lease                              2, 3, 4                              None
F2                              Granting a long‑term lease                    2, 3, 4                              None
F4                              Lessee receives payment for changing lease    2, 3, 4                              None
F5                              Lessor receives payment for changing lease    2, 3, 4                              None
H2                              Receipt for event relating to a CGT asset     2, 3, 4                              None
K6                              Pre‑CGT shares or trust interest              1, 2, 3, 4, 5                        None

116‑30  Market value substitution rule: modification 1

No capital proceeds

 (1) If you received no *capital proceeds from a *CGT event, you are taken to have received the market value of the *CGT asset that is the subject of the event. (The market value