Document ID: chunk:federal_register_of_legislation:C2010C00300:clause:3_1
Version: federal_register_of_legislation:C2010C00300
Segment Type: clause
Provision Reference: sch 3 cl 1
Character Range: 12820–13473

1  Section 116‑65
Repeal the section, substitute:

116‑65  Disposal etc. of a CGT asset the subject of an option

 (1) This section applies if:
 (a) you granted, renewed or extended an option to create (including grant or issue) or *dispose of a *CGT asset; and
 (b) another entity exercises the option; and
 (c) because of the exercise of the option, you create (including grant or issue) or dispose of the CGT asset.

 (2) The *capital proceeds from the creation (including grant or issue) or disposal include any payment you received for granting, renewing or extending the option.

 (3) The payment can include giving property: see section 103‑5.