Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p15
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 15/22)
Character Range: 2181169–2185444

as a separate CGT asset.
 (4) In working out the amount of any premium paid or payable to the lessor for the grant, renewal or extension of a long‑term lease, disregard any part of it that is attributable to a *depreciating asset of that kind.
  The payment of any premium can include giving property: see section 103‑5.
 (5) In working out the proceeds of a *CGT event that is a *supply, disregard the amount of your *net GST (if any) on the supply.

Modifications to general rules

116‑25  Table of modifications to the general rules
  There are 6 modifications to the general rules that may be relevant to a *CGT event. This table tells you:
• each *CGT event for which the general rules about *capital proceeds are relevant; and
• the modifications that can apply to that event; and
• any special rules that apply to that event.

Capital proceeds modifications
                                                                                        Only these modifications can apply:
Event number
                                Description of event:                                                                        Special rules:
A1                              Disposal of a CGT asset                                 1, 2, 3, 4, 5, 6                     If the *disposal is because another entity exercises an option: see section 116‑65
                                                                                                                             If the disposal is of *shares or an interest in a trust: see section 116‑80
                                                                                                                             If the disposal is a gift for which a section 30‑212 valuation is obtained: see section 116‑100
                                                                                                                             If a roll‑over under Subdivision 310‑D applies: see section 116‑110
                                                                                                                             If the disposal is a disposal of part of an interest in a *mining, quarrying or prospecting right under a *farm‑in farm‑out arrangement: see section 116‑115
                                                                                                                             If the disposal involves a *look‑through earnout right: see section 116‑120
B1                              Use and enjoyment before title passes                   1, 2, 3, 4, 5, 6                     None
C1                              Loss or destruction of a CGT asset                      2, 3, 4, 6                           None
C2                              Cancellation, surrender and similar endings             1, 2, 3, 4, 6                        See sections 116‑75, 116‑80, 116‑110 and 116‑115
C3                              End of option to acquire shares etc.                    2, 3, 4, 6                           None
D1                              Creating contractual or other rights                    1, 2, 3, 4, 6                        None
D2                              Granting an option                                      1, 2, 3, 4, 6                        See section 116‑70
D3                              Granting a right to income from mining                  1, 2, 3, 4, 6                        None
D4                              Entering into a conservation covenant                   2, 3, 4, 5, 6                        116‑105
E1                              Creating a trust over a CGT asset                       1, 2, 3, 4, 5, 6                     None
E2                              Transferring a CGT asset to a trust                     1, 2, 3, 4, 5, 6                     If a roll‑over under Subdivision 310‑D applies: see section 116‑110
E8                              Disposal by beneficiary of capital interest             1, 2, 3, 4, 5, 6                     See section 116‑80
F1                              Granting a lease                                        2, 3, 4, 6                           None
F2                              Granting a long‑term lease                              2, 3, 4, 6                           None