Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p1
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 1/2)
Character Range: 2774471–2777497

2                                     You *acquire shares in a company in exchange for the redemption of an *exchangeable interest.                                                      (a) you are taken to have acquired the shares when the redemption of the exchangeable interest happened; and
                                                                                                                                                                                         (b) a *capital gain or *capital loss you make from the redemption of the exchangeable interest is disregarded.

Application
 (5) This section applies to the disposal or redemption of an *exchangeable interest on or after 1 July 2001.

Subdivision 130‑F—Exploration investments

130‑110  Reducing the reduced cost base before disposal
 (1) This section applies if:
 (a) an entity (the minerals explorer) issues a *share in the minerals explorer to another entity (the investor) during the 2017‑18, 2018‑19, 2019‑20, 2020‑21, 2021‑22, 2022‑23, 2023‑24 or 2024‑25 income year; and
 (b) the Commissioner makes a determination under section 418‑101 allocating exploration credits to the minerals explorer for the income year in which the share is issued; and
 (c) the share is issued to the investor on or after the day on which the Commissioner's determination is made; and
 (d) the share is an *equity interest.
 (2) The *reduced cost base of the *share is to be reduced immediately before the disposal of the share by the amount worked out as follows:
where:
investment period means the period, within the income year in which the *share is issued to the investor, that:
 (a) begins on the day on which the Commissioner makes the determination mentioned in paragraph (1)(b); and
 (b) ends at the end of the income year.

Division 132—Leases

Table of sections
132‑1 Lessee incurs expenditure to get lease term varied or waived
132‑5 Lessor pays lessee for improvements
132‑10 Grant of a long‑term lease
132‑15 Lessee of land acquires reversionary interest of lessor

132‑1  Lessee incurs expenditure to get lease term varied or waived
  If the lessee of property incurs expenditure in obtaining the consent of the lessor to vary or waive a term of the lease, the fourth element of the lease's *cost base and *reduced cost base includes the amount of that expenditure.
  The expenditure can include giving property: see section 103‑5.

132‑5  Lessor pays lessee for improvements
  The fourth element of the *cost base and *reduced cost base of property that was subject to a lease includes any payment (because of the lease expiring or being surrendered or forfeited) by the lessor to the lessee for expenditure of a capital nature incurred by the lessee in making improvements to the lease property.
  The payment or expenditure can include giving property: see section 103‑5.

132‑10  Grant of a long‑term lease
 (1) These rules apply if *CGT event F2 happens for a lessor of property.
 (2) For any later *CGT event that happens to the land or the