Document ID: chunk:federal_register_of_legislation:C2011A00061:clause:3_6:p2
Version: federal_register_of_legislation:C2011A00061
Segment Type: clause
Provision Reference: sch 3 cl 6 (pt 2/4)
Character Range: 19937–22622

(a) apart from paragraph (1)(f), subsection (1) would apply to the gain or loss; and
 (b) you choose this subsection to apply to the gain or loss;
disregard so much of the gain or loss that relates to land (the exempt land) within the *maximum exempt area for the *CGT event and the *dwelling.
Note: You may get only a partial exemption for this portion of the gain or loss (see section 118‑260).

118‑250  Compulsory acquisitions of adjacent land
 (1) This section applies to the *CGT event and the exempt land if the CGT event involves:
 (a) the compulsory *acquisition of the exempt land by:
 (i) an *Australian government agency; or
 (ii) an entity under a power conferred by an *Australian law; or
 (b) you *disposing of the exempt land to an entity in circumstances meeting all of these conditions:
 (i) the disposal takes place after a notice was served on you by or on behalf of the entity;
 (ii) the notice invited you to negotiate with the entity with a view to the entity acquiring the exempt land by agreement;
 (iii) the notice informed you that if the negotiations were unsuccessful, the exempt land would be compulsorily acquired by the entity;
 (iv) the compulsory acquisition would have been under a power of compulsory acquisition conferred by an Australian law.
Note: For paragraph (b), the entity may be an Australian government agency.
 (2) This section applies to the *CGT event and the exempt land if the CGT event involves:
 (a) your *ownership interest in the exempt land being compulsorily cancelled (however described) or varied (however described) by:
 (i) an *Australian government agency; or
 (ii) an entity under a power conferred by an *Australian law; or
 (b) you surrendering (however described) or varying (however described) your ownership interest in the exempt land in circumstances meeting all of these conditions:
 (i) the surrender or variation takes place after a notice was served on you by or on behalf of an entity;
 (ii) the notice invited you to negotiate with the entity with a view to you agreeing to surrender or vary your ownership interest;
 (iii) the notice informed you that if the negotiations were unsuccessful, your ownership interest would be compulsorily cancelled, or varied, under a power conferred by an Australian law.
Note: For paragraph (b), the entity may be an Australian government agency.
 (3) This section applies to the *CGT event and the exempt land if the CGT event involves:
 (a) an interest or right in or relating to the exempt land being compulsorily conferred on:
 (i) an *Australian government agency; or
 (ii) an entity under a power conferred by an *Australian law; or
 (b) you conferring on an entity an