Document ID: chunk:federal_register_of_legislation:C2025C00029:section:14:p9
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 14 (pt 9/19)
Character Range: 5522512–5525186

(ii) the condition in subparagraph (i) would be satisfied if subsection 394‑10(5) were disregarded; and
 (c) a *CGT event happens in relation to the forestry interest, other than a CGT event that happens in respect of thinning.
 (2) Your assessable income for the income year in which the *CGT event happens includes:
 (a) if, as a result of the CGT event, you no longer hold the *forestry interest—the *market value of the forestry interest (worked out as at the time of the event); or
 (b) otherwise—the decrease (if any) in the market value of the forestry interest as a result of the CGT event.
 (3) Any amount that you actually receive because of the *CGT event is not included in your assessable income (nor is it *exempt income).

394‑30  CGT event in relation to forestry interest in forestry managed investment scheme—subsequent participant
 (1) This section applies if:
 (a) you hold a *forestry interest in a *forestry managed investment scheme otherwise than as an *initial participant in the scheme; and
 (b) at least one of these conditions is satisfied:
 (i) you can deduct or have deducted an amount for an income year under section 394‑10 in relation to the forestry interest;
 (ii) you could deduct an amount for an income year under section 394‑10 if you had paid the amount under the scheme in that year; and
 (c) a *CGT event happens in relation to the forestry interest, other than a CGT event that happens in respect of thinning.
 (2) Your assessable income for the income year in which the *CGT event happens includes the lesser of the following:
 (a) the *market value of the forestry interest (worked out as at the time of the event);
 (b) the amount (if any) by which the *total forestry scheme deductions in relation to the forestry interest exceeds the *incidental forestry scheme receipts in relation to the forestry interest.
 (3) The total forestry scheme deductions in relation to the *forestry interest is the total of each amount that you can deduct or have deducted under section 394‑10 for each income year in relation to the forestry interest.
 (4) The incidental forestry scheme receipts in relation to the *forestry interest is the total of each amount that you have received under the scheme in each income year in relation to the forestry interest for a reason otherwise than because of the *CGT event.
 (5) However, if you still hold the forestry interest despite the *CGT event, work out the amount included in your assessable income under subsection (2) using this formula (instead of using the amount worked out under subsection (2)):
 (6) If this section has operated previously in relation to the *forestry interest, disregard