Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p2
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 2/6)
Character Range: 2784045–2786757

the grantee *acquired the option under a trust restructure (see Subdivision 124‑N) and, on exercising the option, held the resulting asset as an item of *trading stock.
Note 1: The exercise of the option would be an example of CGT event C2 (about a CGT asset ending).
Note 2: There is an exemption for the grantor if the option is exercised: see subsection 104‑40(5).
 (5) This Division does not apply to rights or options to which Subdivision 130‑B applies.
Note: Subdivision 130‑B deals (amongst other things) with rights and options issued by a company or trust where you did not pay or give anything to acquire them.
 (6) This Division does not apply to:
 (a) an option to the extent that the option binds the grantor to *dispose of *foreign currency; or
 (b) an option to the extent that the option binds the grantor to *acquire *foreign currency.

Division 137—Granny flat arrangements

Table of Subdivisions
137‑A—When CGT events do not happen

Subdivision 137‑A—When CGT events do not happen

Guide to Subdivision 137‑A

137‑1  What this Subdivision is about
      A CGT event does not happen when certain granny flat arrangements are entered into, varied or terminated.

Table of sections

Operative provisions
137‑10 Meaning of key terms
137‑15 CGT event does not happen when a certain kind of granny flat arrangement is entered into
137‑20 CGT event does not happen when a certain kind of granny flat arrangement is varied
137‑25 CGT event does not happen when a certain kind of granny flat arrangement is terminated

Operative provisions

137‑10  Meaning of key terms
 (1) An individual holds a granny flat interest in a *dwelling under an *arrangement if the individual has a right to occupy the dwelling for life that has been conferred by the arrangement.
 (2) An individual is eligible for a granny flat interest at a particular time if:
 (a) the individual reached *pension age at or before that time; or
 (b) the individual:
 (i) needs, because of a disability, assistance to carry out most day‑to‑day activities; and
 (ii) is likely to continue to need that assistance, because of that disability, for at least 12 months after that time.
 (3) This Subdivision applies:
 (a) to a *dwelling's *adjacent land in a corresponding way to the way Subdivision 118‑B applies to the adjacent land; or
 (b) to an *adjacent structure of a flat or home unit in a corresponding way to the way Subdivision 118‑B applies to the adjacent structure.
Note: Subsections 118‑120(1) and (5) provide that Subdivision 118‑B (about main residences) applies to adjacent land and adjacent structures as if they were a dwelling.

137‑15  CGT event does not happen when a certain kind of granny flat arrangement is entered