Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p58
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 58/59)
Character Range: 2675977–2678757

land to you because of a court order under the Family Law Act 1975. Any capital gain or loss your spouse makes is disregarded.
 If the land's cost base at the time you acquired it is $10,000, the first element of the land's cost base in your hands becomes $10,000.
Note 1: There are special indexation rules for roll‑overs: see Division 114.
Note 2: A roll‑over under this Subdivision may have an effect on the transferee's main residence exemption: see sections 118‑178 and 118‑180.
 (6) For a disposal case where the transferor *acquired the asset before 20 September 1985, the transferee is taken to have acquired it before that day.
Note: A capital gain or loss you make from a CGT asset you acquired before 20 September 1985 is generally disregarded: see Division 104. This exemption is removed in some situations: see Division 149.
 (7) For a disposal case where the transferor *disposed of a *collectable or *personal use asset, the transferee is taken to have *acquired one.
Note 1: Capital losses from collectables can be subtracted only from capital gains from collectables: see section 108‑10.
Note 2: Capital losses from personal use assets are disregarded: see section 108‑20.

Consequences for the transferee (creation case)
 (8) For a creation case, the first element of the asset's *cost base (in the hands of the transferee) is the amount applicable under this table. The first element of its *reduced cost base is worked out similarly.

Creation case
Event No.      Applicable amount
D1             the *incidental costs the transferor incurred that relate to the trigger event
D2             the expenditure the transferor incurred to grant the option
D3             the expenditure the transferor incurred to grant the right
F1             the expenditure the transferor incurred on the grant, renewal or extension of the lease

  The expenditure can include giving property: see section 103‑5.

126‑15  CGT event involving company or trustee
 (1) There are the roll‑over consequences in section 126‑5 if the trigger event involves a company (the transferor) or a trustee (also the transferor) and a *spouse or former spouse (the transferee) of another individual because of:
 (a) a court order under the Family Law Act 1975 or under a *State law, *Territory law or *foreign law relating to breakdowns of relationships between spouses; or
 (b) a maintenance agreement approved by a court under section 87 of the Family Law Act 1975 or a corresponding agreement approved by a court under a corresponding *foreign law; or
 (d) something done under:
 (i) a financial agreement made under Part VIIIA of the Family Law Act 1975 that is binding because of section 90G of that Act; or
 (ii) a corresponding written agreement that is binding because of a corresponding