Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 118.165

Separate CGT event for adjacent land or other structures

                   The exemption does not apply to a * CGT event that happens in relation to land, or a garage, storeroom or other structure, to which the exemption can extend under section 118-120 (about adjacent land) if that event does not also happen in relation to the * dwelling or your * ownership interest in it.

Note:          There is a separate rule for a CGT event that is a compulsory acquisition (or similar arrangement) happening to adjacent land but not also to the dwelling itself: see section 118- 245.



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