Document ID: chunk:federal_register_of_legislation:C2025C00029:section:7:p15
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 7 (pt 15/40)
Character Range: 1860860–1863439

a shop in the centre pays you $10,000 for agreeing to change the terms of its lease. You incur expenses of $1,000 for a solicitor and $500 for a valuer. You make a capital gain of $8,500.
 (4) The expenditure can include giving property: see section 103‑5. However, it does not include an amount you have received as *recoupment of it and that is not included in your assessable income.

Exceptions
 (5) A *capital gain or *capital loss the lessor makes is disregarded if:
 (a) the lease was granted before 20 September 1985; or
 (b) for a lease that has been renewed or extended—the start of the last renewal or extension occurred before that day.

Subdivision 104‑G—Shares

Table of sections
104‑135 Capital payment for shares: CGT event G1
104‑145 Liquidator or administrator declares shares or financial instruments worthless: CGT event G3

104‑135  Capital payment for shares: CGT event G1
 (1) CGT event G1 happens if:
 (a) a company makes a payment to you in respect of a *share you own in the company (except for *CGT event A1 or C2 happening in relation to the share); and
 (b) some or all of the payment (the non‑assessable part) is not a *dividend, or an amount that is taken to be a dividend under section 47 of the Income Tax Assessment Act 1936; and
 (c) the payment is not included in your assessable income.
The payment can include giving property: see section 103‑5.
 (1A) In working out the non‑assessable part, disregard any part of the payment that is:
 (aa) *non‑assessable non‑exempt income; or
 (a) repaid by you; or
 (b) compensation you paid that can reasonably be regarded as a repayment of all or part of the payment; or
 (c) an amount referred to in section 152‑125 (which exempts a payment of a small business 15‑year exemption amount) as an exempt amount.
The payment can include giving property: see section 103‑5.
 (1B) However, the non‑assessable part is not reduced by any part of the payment that you can deduct.
 (2) The time of the event is when the company makes the payment.
 (3) You make a capital gain if the amount of the non‑assessable part is more than the *share's *cost base. If you make a *capital gain, the share's *cost base and *reduced cost base are reduced to nil.
Note 1: You cannot make a capital loss.
Note 2: A capital gain under former section 160ZL of the Income Tax Assessment Act 1936 is also taken into account for the purposes of this subsection: see section 104‑135 of the Income Tax (Transitional Provisions) Act 1997.
 (4) However, if the amount of the non‑assessable part is not more than the *share's *cost base,