Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p9
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 9/12)
Character Range: 1948588–1951237

arising from a CGT event involving a CGT asset kept mainly for your personal use and enjoyment is a personal use asset to prevent any loss arising from the debt being a normal capital loss.
 (3) A personal use asset does not include land, a *stratum unit or a building or structure that is taken to be a separate *CGT asset because of Subdivision 108‑D.

108‑25  Sets of personal use assets
 (1) This section sets out what happens if:
 (a) you own *personal use assets that are a set; and
 (b) they would ordinarily be *disposed of as a set; and
 (c) you dispose of them in one or more transactions for the purpose of trying to obtain the exemption in section 118‑10.
 (2) The set of *personal use assets is taken to be a single *personal use asset and each of your *disposals is a disposal of part of that asset.

108‑30  Cost base of a personal use asset
  In working out the *cost base of a *personal use asset, disregard the third element (about the costs of ownership).

Subdivision 108‑D—Separate CGT assets

Guide to Subdivision 108‑D

108‑50  What this Subdivision is about

      For CGT purposes, there are:
          • exceptions to the common law principle that what is attached to the land is part of the land; and
          • special rules about buildings and adjacent land; and
          • rules about when a capital improvement to a CGT asset is treated as a separate CGT asset.
Note: In addition to the circumstances set out in this Subdivision, separate asset treatment can apply under section 124‑595 (about a roll‑over for a Crown lease) and section 124‑725 (about a roll‑over for a prospecting or mining entitlement).

Table of sections

Operative provisions
108‑55 When is a building a separate asset from land?
108‑60 Depreciating asset that is part of a building is a separate asset
108‑65 Land adjacent to land acquired before 20 September 1985
108‑70 When is a capital improvement a separate asset?
108‑75 Capital improvements to CGT assets for which a roll‑over may be available
108‑80 Deciding if capital improvements are related to each other
108‑85 Meaning of improvement threshold

Operative provisions

108‑55  When is a building a separate asset from land?
 (1) A building or structure on land that you *acquired on or after 20 September 1985 is taken to be a separate *CGT asset from the land if one of these balancing adjustment provisions applies to the building or structure (whether or not there is a balancing adjustment):
 (a) Subdivision 40‑D; or
 (b) section 355‑315 or 355‑525 (about R&D).
Example: You construct a timber mill building on land you own. The building is subject to a balancing adjustment on