Document ID: chunk:federal_register_of_legislation:C2023C00080:clause:2_28:p5
Version: federal_register_of_legislation:C2023C00080
Segment Type: clause
Provision Reference: sch 2 cl 28 (pt 5/16)
Character Range: 206572–209393

your Registry account (within the meaning of the Australian National Registry of Emissions Units Act 2011) or your nominee's Registry account (within the meaning of the Australian National Registry of Emissions Units Act 2011);
 (ii) a carbon unit is transferred from your nominee's foreign account (within the meaning of the Clean Energy Act 2011) to your Registry account (within the meaning of the Australian National Registry of Emissions Units Act 2011) or your nominee's Registry account (within the meaning of the Australian National Registry of Emissions Units Act 2011);
 (iii) an *international emissions unit is transferred from your foreign account (within the meaning of the Australian National Registry of Emissions Units Act 2011) to your Registry account (within the meaning of that Act) or your nominee's Registry account (within the meaning of that Act);
 (iv) an international emissions unit is transferred from your nominee's foreign account (within the meaning of the Australian National Registry of Emissions Units Act 2011) to your Registry account (within the meaning of that Act) or your nominee's Registry account (within the meaning of that Act);
 (v) an *Australian carbon credit unit is transferred from your foreign account (within the meaning of the Carbon Credits (Carbon Farming Initiative) Act 2011) to your Registry account (within the meaning of the Australian National Registry of Emissions Units Act 2011) or your nominee's Registry account (within the meaning of the Australian National Registry of Emissions Units Act 2011);
 (vi) an Australian carbon credit unit is transferred from your nominee's foreign account (within the meaning of the Carbon Credits (Carbon Farming Initiative) Act 2011) to your Registry account (within the meaning of the Australian National Registry of Emissions Units Act 2011) or your nominee's Registry account (within the meaning of the Australian National Registry of Emissions Units Act 2011); and
 (b) as a result of the transfer, you start to *hold the unit as a *registered emissions unit; and
 (c) just before the transfer, the unit was neither your *trading stock nor your *revenue asset;
you are treated as if:
 (d) just before the transfer, you had sold the unit to someone else for its *market value just before the transfer; and
 (e) you had, immediately after the sale, bought it back as a registered emissions unit for the same amount.

420‑22  Becoming taxable in Australia on the proceeds of sale of registered emissions units
  If:
 (a) you start to *hold a *registered emissions unit at a particular time; and
 (b) assuming that you had sold the unit to someone else immediately after you started to hold the unit, the proceeds of the sale would not have been included in your assessable income under section 420‑25; and
 (c) you hold