Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 118.165

    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.