Income Tax Assessment Act 1936
(a) the taxpayer holds the taxpayer ' s interest in the agreement mentioned in section 82KZMG as an initial participant in the agreement; and
(b) a CGT event happens in relation to that interest within 4 years after the end of the year of income in which the taxpayer first incurred expenditure under the agreement; and
(c) the expenditure is incurred on or before 30 June 2008.
(a) the CGT event happens because of circumstances outside the taxpayer ' s control; and
The interest is compulsorily acquired.
(b) when the taxpayer acquired the interest, the taxpayer could not reasonably have foreseen the CGT event happening.
Despite section 170 , the Commissioner may amend the taxpayer ' s assessment at any time within 2 years after the end of the year of income in which the CGT event happens, for the purpose of giving effect to this section.