CGT event |
Time of event |
Capital gain |
Capital loss |
---|---|---|---|
F1 Granting a lease |
for granting a lease-when the entity enters into the lease contract or, if none, at the start of the lease; for a lease renewal or extension-at the start of the renewal or extension |
capital proceeds less the expenditure on grant, renewal or extension |
expenditure on grant, renewal or extension less capital proceeds |
F2 Granting a long term lease |
for granting a lease-when the lessor grants the lease; for a lease renewal or extension-at the start of the renewal or extension |
capital proceeds from the grant, renewal or extension less the cost base of the leased property |
reduced cost base of the leased property less the capital proceeds from the grant, renewal or extension |
F3 Lessor pays lessee to get lease changed |
when the lease term is varied or waived |
no capital gain |
amount of expenditure to get lessee's agreement |
F4 Lessee receives payment for changing a lease |
when the lease term is varied or waived |
capital proceeds less the cost base of lease |
no capital loss |
F5 Lessor receives payment for changing a lease |
when the lease term is varied or waived |
capital proceeds less expenditure in relation to variation or waiver |
expenditure in relation to variation or waiver less capital proceeds |
Leases
Last updated 5 October 2009
QC27417