INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

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

Division 116 - Capital proceeds  

Special rules  

SECTION 116-70   Option requiring both acquisition and disposal etc.  

116-70(1)  
This section applies if:


(a) you granted, renewed or extended an option; and


(b) the option requires you both to *acquire, and to create (including grant or issue) or *dispose of, a *CGT asset.

116-70(2)  
The option is treated as 2 separate options and half of the *capital proceeds from the grant, renewal or extension is attributed to each option.


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