Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p14
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 14/29)
Character Range: 2232735–2235301

would have applied if:
 (c) the individual had not died; and
 (d) the payment or property had been received by the individual.

118‑40  Expiry of a lease
  A *capital loss a lessee makes from the expiry, surrender, forfeiture or assignment of a lease (except one granted for 99 years or more) is disregarded if the lessee did not use the lease solely or mainly for the *purpose of producing assessable income.

118‑42  Transfer of stratum units
  If:
 (a) you own land on which there is a building; and
 (b) you subdivide the building into *stratum units; and
 (c) you transfer each unit to the entity who had the right to occupy it just before the subdivision;
a *capital gain or *capital loss you make from transferring the unit is disregarded.

118‑45  Sale of rights to mine
  A *capital gain or *capital loss you make from the sale, transfer or assignment of your rights to mine in a particular area in Australia is disregarded if you have *exempt income for the income year (because of the former section 330‑60) from the sale, transfer or assignment.

118‑55  Foreign currency hedging gains and losses
  A *capital gain or *capital loss you make from a contract you entered into solely to reduce the risk of financial loss you may suffer from currency exchange rate fluctuations is disregarded if the contract relates to:
 (a) a liability you have to make a payment under another contract; or
 (b) a *CGT asset that is a right you *acquired before 20 September 1985 to receive money under another contract.

118‑60  Certain gifts
 (1) A *capital gain or *capital loss made from a testamentary gift of property that would have been deductible under section 30‑15 if it had not been a testamentary gift is disregarded.
 (1A) If the only reason the gain or loss is not disregarded under subsection (1) is because the property has not been valued by the Commissioner at more than $5,000, then, for the purposes of that subsection, it is taken to have been so valued.
 (2) A *capital gain or *capital loss made from a gift of property that is deductible under section 30‑15 because of item 4 or 5 in the table in that section is disregarded.
 (3) However, subsection (2) does not apply if the gift was not a testamentary gift and the property is later *acquired for less than *market value by the person who made the gift or an *associate of that person.
 (4) If the gift was a testamentary gift and the property is later *acquired for less than *market value by the deceased person's estate or a person (the deceased's associate) who:
 (a) is an *associate of the