Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:1_2
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 1 cl 2
Character Range: 466009–467267

2                                                The lease was originally granted for less than 99 years  When the lessee *acquired the reversionary interest           (a) if the lessee *acquired the lease after 19 September 1985—any premium the lessee paid for the grant or assignment of the lease, plus the amount the lessee paid to acquire the reversionary interest; or

                                                                                                                                                                        (b) if the lessee acquired the lease before 20 September 1985—the market value of the land when the lessee acquired it

 (2) All the payments can include giving property: see section 103‑5.

Note: CGT events F1 to F5 deal specifically with leases. See also (in particular) CGT event C2 (about cancellation, surrender and similar endings).

Division 134—Options

134‑1  Exercise of options

 (1) This table sets out the effects of the exercise of an option on the *cost bases and *reduced cost bases of the grantor and the entity that exercises the option (the grantee).

Exercise of options
Item                 In this situation:                                Effect on cost base and reduced cost base: