Income Tax Assessment Act 1997
Your maximum exempt area for the *CGT event and the *dwelling is 2 hectares less the amount worked out as follows: Method statement
Identify each earlier *CGT event (if any) that:
for which you made a *capital gain or *capital loss that was wholly or partly disregarded because of the application of subsection 118-245(2) .
For each earlier *CGT event covered by step 1, work out the area of the exempt land for that application of subsection 118-245(2) .
Add the results from step 2 to the area of the land immediately under the *dwelling.