(1) CGT event K8 happens if there is a * taxing event generating a gain for a * down interest under section 725- 245.
Note: That section sets out some of the CGT consequences of a direct value shift for affected owners of down interests. See also the rest of Division 725.
(2) The time of the event is the * decrease time for the * down interest.
(3) You make a capital gain equal to the gain generated for the taxing event.
Note: You cannot make a capital loss.
(4) If, because of the same * direct value shift, there are 2 or more * taxing events generating a gain that are covered by subsection (1), CGT event K8 happens for each of those taxing events, and you make a separate capital gain for each.
(5) A * capital gain is disregarded if the * down interest is a * pre-CGT asset.