A capital gain or capital loss is disregarded if:
(a) you made the capital gain or capital loss for the 1997-98 income year or an earlier income year under former Part IIIA of the Income Tax Assessment Act 1936 because you granted an option to an entity, or renewed or extended an option you had granted; and
(b) the other entity exercises the option in the 1998-99 income year or a later income year.
Table of sections
104-70 Capital payment before 18 December 1986 for trust interest