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INCOME TAX ASSESSMENT ACT 1997 - SECT 116.105

Conservation covenants

                   If * CGT event D4 happens because you enter into a * conservation covenant over land you own and you can deduct an amount under Division 31 because you enter into the covenant, the * capital proceeds from the event are the amount you can deduct.

Note:          To get a deduction under Division 31, you must not receive money, property or other material benefit for entering into the covenant.



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