Document ID: chunk:federal_register_of_legislation:C2025C00029:section:7:p4
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 7 (pt 4/5)
Character Range: 2043061–2045875

*CGT event, involving the *CGT asset, happens after the first CGT event but before the financial benefit is provided or received; or
 (ii) was otherwise affected by that right's character as a look‑through earnout right before subsection 118‑565(2) applied.
The tax‑related liability need not be a liability of that entity.
Note: Subsection 118‑565(2) restricts look‑through earnout rights to rights to financial benefits over a period not exceeding 5 years from the end of the income year in which the first CGT event happens.
 (5) If, after providing or receiving a *financial benefit under a right referred to in subsection (3) or (4):
 (a) you are dissatisfied with an assessment referred to in that subsection; and
 (b) the Commissioner notifies you that the Commissioner has decided under that subsection not to amend your assessment;
you may object against the assessment, to the extent that it does not take account of that right's character (as a *look‑through earnout right or not such a right), in the manner set out in Part IVC of the Taxation Administration Act 1953.

112‑37  Put options
  The first element of the *cost base and *reduced cost base of a right to *dispose of a *share in a company that you *acquire as a result of *CGT event D2 happening to the company is the sum of:
 (a) the amount that is included in your assessable income as ordinary income as a result of your acquisition of the right; and
 (b) the amount (if any) that you paid to acquire the right.

Subdivision 112‑B—Finding tables for special rules

Table of sections
112‑40 Effect of this Subdivision
112‑45 CGT events
112‑46 Annual cost base adjustment for member's unit or interest in AMIT
112‑48 Gifts acquired by associates
112‑50 Main residence
112‑53 Scrip for scrip roll‑over
112‑53AA Statutory licences
112‑53AB Change of incorporation
112‑53A MDO roll‑over
112‑53B Exchange of stapled ownership interests for units in a unit trust
112‑53C Water entitlement roll‑overs
112‑54 Demergers
112‑54A Transfer of assets between certain trusts
112‑55 Effect of you dying
112‑60 Bonus shares or units
112‑65 Rights
112‑70 Convertible interests
112‑77 Exchangeable interests
112‑78 Exploration investments
112‑80 Leases
112‑85 Options
112‑87 Residency
112‑90 An asset stops being a pre‑CGT asset
112‑92 Demutualisation of certain entities
112‑95 Transfer of tax losses and net capital losses within wholly‑owned groups of companies
112‑97 Modifications outside this Part and Part 3‑3

112‑40  Effect of this Subdivision
 (1) This Subdivision is a *Guide.
Note: In interpreting an operative provision, a Guide may be considered only for limited purposes: see section 950‑150.
 (2) It sets out which element of the cost base or reduced cost base of a CGT asset is affected by various situations.

112‑45  CGT events

CGT events