Document ID: chunk:federal_register_of_legislation:C2004A00445:clause:1_4:p3
Version: federal_register_of_legislation:C2004A00445
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 3/5)
Character Range: 16885–20940

realisation of the first‑mentioned spectrum licence. Instead, Subdivision 380‑C applies.

 (3) The amount arising from the partial realisation is the amount in column 3 of the applicable item in the table. (If more than one item applies, use the amount in the last applicable item.)

 (4) However, the amount arising from the *partial realisation does not include any amount that is *ordinary income.

Partial realisation of a spectrum licence
Item                                       Event that is a partial realisation                                                                                                                                                                Amount arising from it
  1                                        you assign part of the spectrum licence                                                                                                                                                            the amount (if any) paid to you for the part less your expenses reasonably attributable to the assignment
  2                                        you assign part of the spectrum licence with other property, and no separate consideration is allocated to the part                                                                                the portion of the consideration that is reasonably attributable to the part, less the same portion of your expenses reasonably attributable to the assignment
  3                                        you assign part of the spectrum licence for no consideration                                                                                                                                       so much of your *unrecouped expenditure on the spectrum licence as is reasonably attributable to the part
  4                                        you assign part of the spectrum licence to an entity with which you are not dealing at *arm's length, for no consideration or for less than the part's market value at the time of the assignment  the greater of:
                                                                                                                                                                                                                                              • so much of your *unrecouped expenditure on the spectrum licence as is reasonably attributable to the part; and
                                                                                                                                                                                                                                              • the part's market value at the time of the assignment
  5                                        part of the spectrum licence is resumed under Division 6 of Part 3.2 of the Radiocommunications Act 1992                                                                                           the amount of compensation paid to you under section 93 of that Act

380‑40  What are the effects of the partial realisation?

 (1) You work out the effects of a *partial realisation by comparing:
 (a) the *amount arising from the partial realisation; and
 (b) your *unrecouped expenditure on the *spectrum licence just before the partial realisation.

 (2) If the *amount arising from the *partial realisation does not exceed your *unrecouped expenditure, your unrecouped expenditure is reduced by that amount at the time of the *partial realisation.

 (3) On the other hand, if the *amount arising from the *partial realisation exceeds your *unrecouped expenditure, then:
 (a) your unrecouped expenditure is reduced to nil (if it is not nil already) at the time of the partial realisation; and
 (b) the excess is included in your assessable income for the income year of the partial realisation.

 (4) However, the amount included in your assessable income cannot exceed:
 • the total of each amount (if any) you can deduct or have deducted for the *spectrum licence for the *current year or an earlier income year under this