Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS  

Division 104 - CGT events  

Subdivision 104-F - Leases  

SECTION 104-120   Lessor pays lessee to get lease changed: CGT event F3  

104-120(1)    
CGT event F3 happens if a lessor incurs expenditure in getting the lessee's agreement to vary or waive a term of the lease. The lessor makes a capital loss equal to the amount of expenditure it incurred. (The expenditure can include giving property: see section 103-5 .)

104-120(2)    
The time of the event is when the term is varied or waived.

Exception

104-120(3)    
However, this event does not apply to expenditure for a lease to which the lessor has chosen to apply section 104-115 .