Document ID: chunk:federal_register_of_legislation:C2025C00029:section:14:p14
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 14 (pt 14/20)
Character Range: 1810504–1813009

trustee of a unit trust to *acquire a *CGT asset that is:
 (a) *shares in the company or units in the unit trust; or
 (b) debentures of the company or unit trust.
Note: Section 104‑30 deals with this situation.
 (7) Nor does it apply to an option relating to a *personal use asset or a *collectable.

104‑45  Granting a right to income from mining: CGT event D3
 (1) CGT event D3 happens if you own a *prospecting entitlement or *mining entitlement, or an interest in one, and you grant another entity a right to receive *ordinary income or *statutory income from operations permitted to be carried on by the entitlement.
Note: If this event applies, there is no disposal of the entitlement.
 (2) The time of the event is:
 (a) when you enter into the contract with the other entity; or
 (b) if there is no contract—when you grant the right to receive *ordinary income or *statutory income.
 (3) You make a capital gain if the *capital proceeds from the grant of the right are more than the expenditure you incurred in granting it. You make a capital loss if those capital proceeds are less.
 (4) The expenditure can include giving property: see section 103‑5. However, it does not include an amount you have received as *recoupment of it and that is not included in your assessable income, or an amount to the extent that you have deducted or can deduct it.

104‑47  Conservation covenants: CGT event D4
 (1) CGT event D4 happens if you enter into a *conservation covenant over land you own.
 (2) The time of the event is when you enter into the covenant.
 (3) You make a *capital gain if the *capital proceeds from entering into the covenant are more than that part of the *cost base of the land that is apportioned to the covenant. You make a *capital loss if those capital proceeds are less than the part of the *reduced cost base of the land that is apportioned to the covenant.
Note: The capital proceeds from entering into the covenant are modified if you do not receive anything for entering into the covenant: see section 116‑105.
 (4) The part of the *cost base of the land that is apportioned to the covenant is worked out in this way:
The part of the *reduced cost base of the land that is apportioned to the covenant is worked out similarly.
 (5) The *cost base and *reduced cost base of the land are reduced by the part of the cost base or reduced cost base of the land that is apportioned to the covenant.
Example: Lisa receives $10,000 for entering into a conservation covenant that covers